[Federal Register Volume 81, Number 178 (Wednesday, September 14, 2016)]
[Notices]
[Pages 63238-63239]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-22009]
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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 32254; 812-13889]
Advisors Series Trust and Orinda Asset Management, LLC; Notice of
Intention To Rescind an Order
September 8, 2016.
AGENCY: Securities and Exchange Commission (``Commission'').
ACTION: Notice of the Commission's intention to rescind an order
pursuant to section 38(a) of the Investment Company Act of 1940
(``Act'').
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SUMMARY: At the request of Advisors Series Trust (``AST'') and Orinda
Asset Management, LLC (``Orinda,'' and together, the ``Applicants''),
the Commission intends to rescind an order previously issued to
Applicants under section 6(c) of the Act that granted an exemption from
section 15(a) of the Act and rule 18f-2 under the Act, as well as from
certain disclosure requirements.\1\
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\1\ Advisors Series Trust and Orinda Asset Management, LLC,
Investment Company Act Release Nos. 30043 (April 23, 2012) (notice)
and 30065 (May 21, 2012) (order) (``Prior Order'').
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Hearing or Notification of Hearing: An order rescinding the Prior
Order will be issued unless the Commission orders a hearing. Interested
persons may request a hearing by writing to the Commission's Secretary
and serving Applicants with a copy of the request, personally or by
mail. Hearing requests should be received by the Commission by 5:30
p.m. on October 3, 2016 and should be accompanied by proof of service
on the Applicants, in the form of an affidavit, or, for lawyers, a
certificate of service. Pursuant to rule 0-5 under the Act, hearing
requests should state the nature of the writer's interest, any facts
bearing upon the desirability of a hearing on the matter, the reason
for the request, and the issues contested. Persons who wish to be
notified of a hearing may request notification by writing to the
Commission's Secretary.
ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549-1090. Applicants, Advisors Series
Trust, 615 East Michigan Street, Milwaukee, WI
[[Page 63239]]
53202 and Orinda Asset Management, LLC, 4 Orinda Way, Suite 100B,
Orinda, CA 94563.
FOR FURTHER INFORMATION CONTACT: Deepak T. Pai, Senior Counsel, at
(202) 551-6876, or Mary Kay Frech, Branch Chief, at (202) 551-6814
(Division of Investment Management, Chief Counsel's Office).
Background
1. The Prior Order granted the Applicants relief from section 15(a)
of the Act and rule 18f-2 under the Act, as well as from certain
disclosure requirements, to permit certain series of AST to enter into
and materially amend subadvisory agreements without shareholder
approval. Applicants have requested that the Prior Order be rescinded
because they are not presently relying on the Prior Order and will not
do so in the future.
2. Section 38(a) of the Act states, in relevant part, that the
Commission shall have authority to rescind an order as is necessary or
appropriate to the exercise of the powers conferred upon the Commission
elsewhere in the Act. The Commission intends to rescind the Prior Order
pursuant to section 38(a) of the Act.
By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2016-22009 Filed 9-13-16; 8:45 am]
BILLING CODE 8011-01-P