30 Day Notice

Federal Register / Vol. 86, No. 26 / Wednesday, February 10, 2021 / Notices
19(b)(3)(A) 14 of the Act and
subparagraph (f)(2) of Rule 19b–4 15
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 16 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (http://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSEAMER–2021–07 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSEAMER–2021–07. This
file number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (http://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
14 15

U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
16 15 U.S.C. 78s(b)(2)(B).

amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–NYSEAMER–2021–07, and
should be submitted on or before March
3, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–02714 Filed 2–9–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–297, OMB Control No.
3235–0336]

Submission for OMB Review;
Comment Request
Revision: Form N–14
Notice is hereby given that, under the
Paperwork Reduction Act of 1995 (44
U.S.C. 3501 et seq.) (‘‘Paperwork
Reduction Act’’), the Securities and
Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for extension of the

15 17

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CFR 200.30–3(a)(12).

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previously approved collection of
information discussed below.
Form N–14 (17 CFR 239.23) is the
form for registration under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.) (‘‘Securities Act’’) of securities
issued by management investment
companies registered under the
Investment Company Act of 1940 (15
U.S.C. 80a–1 et seq.) (‘‘Investment
Company Act’’) and business
development companies as defined by
Section 2(a)(48) of the Investment
Company Act in: (1) A transaction of the
type specified in rule 145(a) under the
Securities Act (17 CFR 230.145(a)); (2) a
merger in which a vote or consent of the
security holders of the company being
acquired is not required pursuant to
applicable state law; (3) an exchange
offer for securities of the issuer or
another person; (4) a public reoffering or
resale of any securities acquired in an
offering registered on Form N–14; or (5)
two or more of the transactions listed in
(1) through (4) registered on one
registration statement. The principal
purpose of Form N–14 is to make
material information regarding
securities to be issued in connection
with business combination transactions
available to investors. The information
required to be filed with the
Commission permits verification of
compliance with securities law
requirements and assures the public
availability and dissemination of such
information. Without the registration
statement requirement, material
information may not necessarily be
available to investors.
Estimates of the average burden hours
are made solely for the purposes of the
Paperwork Reduction Act and are not
derived from a comprehensive or even
representative survey or study of the
costs of Commission rules and forms.
The collection of information under
Form N–14 is mandatory. The
information provided under Form N–14
will not be kept confidential. An agency
may not conduct or sponsor, and a
person is not required to respond to, a
collection of information unless it
displays a currently valid OMB control
number.
BILLING CODE 8011–01–P

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Federal Register / Vol. 86, No. 26 / Wednesday, February 10, 2021 / Notices

As summarized in Table 1 above, the
Commission has previously estimated

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that about 253 funds will make about
253 filings on Form N–14 each year,

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incurring 125,883 hours of internal hour
burden at a cost of about $43.78 million.

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Federal Register / Vol. 86, No. 26 / Wednesday, February 10, 2021 / Notices
The hour burden estimates for preparing
and filing reports on Form N–14 are
based on the Commission’s experience
with the contents of the form. The
number of burden hours may vary
depending on, among other things, the
complexity of the filing and whether
preparation of the forms is performed by
internal staff or outside counsel.
The amendments to Form N–14 to
permit BDCs to incorporate certain
information by reference into that form
to the same extent as registered closedend fund are expected to decrease the
burden and costs for BDCs that prepare
and file Forms N–14. As summarized in
Table 1 above, we estimate that the total
internal burden associated with N–14
will be 125,260 hours, at a cost of
approximately $37,856,382.
The public may view the background
documentation for this information
collection at the following website,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to:
Lindsay.M.Abate@omb.eop.gov; and (ii)
David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
Mailbox@sec.gov. Written comments
and recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
Dated: February 4, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–02687 Filed 2–9–21; 8:45 am]
BILLING CODE 8011–01–C

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91064; File No. SR–
CboeBZX–2021–014]

Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of Filing of
a Proposed Rule Amendment To Allow
the Invesco Focused Discovery
Growth ETF and Invesco Select
Growth ETF (Each a ‘‘Fund’’ and,
Collectively, the ‘‘Funds’’), Each a
Series of the Invesco Actively
Managed Exchange-Traded Fund Trust
(the ‘‘Trust’’), To Strike and Publish
Multiple Intra-Day Net Asset Values
(‘‘NAVs’’) and an End-of-Day NAV
February 4, 2021.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on January
22, 2021, Cboe BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX’’) is filing with the
Securities and Exchange Commission
(‘‘Commission’’) a proposed rule
amendment to allow the Invesco
Focused Discovery Growth ETF and
Invesco Select Growth ETF (each a
‘‘Fund’’ and, collectively, the ‘‘Funds’’),
each a series of the Invesco Actively
Managed Exchange-Traded Fund Trust
(the ‘‘Trust’’), to strike and publish
multiple intra-day net asset values
(‘‘NAVs’’) and an end-of-day NAV. The
shares of each Fund (the ‘‘Shares’’)
would continue to comply with all of
the listing standards set forth under
Rule 14.11(m).
The text of the proposed rule change
is also available on the Exchange’s
website (http://markets.cboe.com/us/
equities/regulation/rule_filings/bzx/), at
the Exchange’s Office of the Secretary,
and at the Commission’s Public
Reference Room.
1 15
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II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposed and the
Commission approved a rule to permit
the listing and trading of the Shares of
each Fund.3 On December 22, 2020, the
Exchange commenced trading in the
Shares of each Fund. The Exchange now
proposes to continue listing and trading
the Shares of each Fund pursuant to
Rule 14.11(m) and to permit the Funds
to strike and publish multiple intra-day
NAVs and an end-of-day NAV. This
proposal is designed to provide the
marketplace with additional
information about the Funds and their
respective holdings and the Exchange
believes it will allow market
participants to better estimate the value
each Fund’s underlying holdings, assess
their risk, and provide additional
certainty around intra-day price and
hedging for the Funds’ shares.
The NAV represents the value of a
fund’s assets minus its liabilities
divided by the number of shares
outstanding and is used in valuing
exchange-traded products (‘‘ETPs’’),
including Tracking Fund Shares. By
way of background, an ETP issues
shares that can be bought or sold
throughout the day in the secondary
market at a market-determined price.
Authorized participants that have
contractual arrangements with the ETP
(or its distributor) purchase and redeem
ETP shares directly from the ETP in
blocks called creation units at a price
equal to the next NAV, and may then
purchase or sell individual ETP shares
in the secondary market at marketdetermined prices. ETPs trade at market
prices, but the market price typically
will be more or less than the fund’s
3 See Securities Exchange Act Release No. 90684
(December 16, 2020) 85 FR 83637 (December 22,
2020) (SR–CboeBZX–2020–091) (the ‘‘Initial
Filing’’).

U.S.C. 78s(b)(1).
CFR 240.19b–4.

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