Extended Gulf Opportunity Pilot

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Federal Register / Vol. 73, No. 181 / Wednesday, September 17, 2008 / Notices

of this proposal, the Exchange has made
the following representations:
(1) The Shares will conform to the
initial and continued listing criteria
under NYSE Arca Equities Rule 8.600.
(2) The Exchange’s surveillance
procedures are adequate to properly
monitor Exchange trading of the Shares
in all trading sessions and to deter and
detect violations of Exchange rules and
applicable federal securities laws.
(3) Prior to the commencement of
trading, the Exchange will inform its
ETP Holders in a Bulletin of the special
characteristics and risks associated with
trading the Shares. Specifically, the
Information Circular will discuss the
following: (a) The procedures for
purchases and redemptions of Shares in
Creation Unit aggregations (and that
Shares are not individually redeemable);
(b) NYSE Arca Equities Rule 9.2(a),
which imposes a duty of due diligence
on its ETP Holders to learn the essential
facts relating to every customer prior to
trading the Shares; (c) the risks involved
in trading the Shares during the
Opening and Late Trading Sessions
when an updated PIV will not be
calculated or publicly disseminated; (d)
how information regarding the PIV is
disseminated; (e) the requirement that
ETP Holders deliver a prospectus to
investors purchasing newly issued
Shares prior to or concurrently with the
confirmation of a transaction; and (f)
trading information.
(4) The Fund will be in compliance
with Rule 10A–3 under the Act,23 as
provided by NYSE Arca Equities Rule
5.3.
(5) The Fund will not purchase or sell
securities in markets outside the United
States. This approval order is based on
the Exchange’s representations.
For the foregoing reasons, the
Commission finds that the proposed
rule change is consistent with Section
6(b)(5) of the Act 24 and the rules and
regulations thereunder applicable to a
national securities exchange.

pwalker on PROD1PC71 with NOTICES

III. Accelerated Approval
The Commission finds good cause,
pursuant to Section 19(b)(2) of the
Act,25 for approving the proposal prior
to the thirtieth day after the date of
publication of the Notice in the Federal
Register. The Commission notes that it
has approved the listing and trading on
the Exchange of shares of other actively
managed exchange-traded funds that are
similar to the Shares of the Fund 26 and
23 See

supra note 6.
U.S.C. 78f(b)(5).
25 15 U.S.C. 78s(b)(2).
26 See, e.g., Securities Exchange Act Release No.
57619 (April 4, 2008), 73 FR 19544 (April 10, 2008)
24 15

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17:38 Sep 16, 2008

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that it has received no comments
regarding the proposed rule change. The
Commission finds that the proposed
rule change does not raise any novel
regulatory issues and believes that
accelerating approval of this proposal
should benefit investors by creating,
without undue delay, additional
competition in the market for Managed
Fund Shares.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,27 that the
proposed rule change (SR–NYSEArca–
2008–85) be, and it hereby is, approved
on an accelerated basis.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.28
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–21706 Filed 9–16–08; 8:45 am]
BILLING CODE 8010–01–P

SMALL BUSINESS ADMINISTRATION
Gulf Opportunity Pilot Loan Program
(GO Loan Pilot)
U.S. Small Business
Administration (SBA).
ACTION: Notice of extension of waiver of
regulatory provisions.
AGENCY:

SUMMARY: This notice announces the
extension of the ‘‘Notice of waiver of
regulatory provisions’’ for SBA’s GO
Loan Pilot until September 30, 2009.
Due to the scope and magnitude of the
devastation to Presidentially-declared
disaster areas resulting from Hurricanes
Katrina and Rita, the Agency is
extending its full guaranty and
streamlined and centralized loan
processing available through the GO
Loan Pilot to the small businesses in the
eligible parishes/counties through
September 30, 2009.
DATES: The waiver of regulatory
provisions published in the Federal
Register on November 17, 2005, is
extended under this notice until
September 30, 2009.
FOR FURTHER INFORMATION CONTACT:
Charles Thomas, Office of
FinancialAssistance, U.S. Small
Business Administration, 409 Third
Street, SW.,Washington, DC 20416;
(SR–NYSEArca–2008–25) (approving the listing and
trading of shares of the PowerShares Active AlphaQ
Fund, the PowerShares Active Alpha Multi-Cap
Fund, the PowerShares Active Mega-Cap Portfolio,
and the PowerShares Active Low Duration
Portfolio).
27 15 U.S.C. 78s(b)(2).
28 17 CFR 200.30–3(a)(12).

PO 00000

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Telephone (202) 205–6490;
[email protected].
On
November 8, 2005, SBA initiated, on an
emergency basis, the GO Loan Pilot
which was designed to provide
expedited small business financial
assistance to businesses located in those
communities severely impacted by
Hurricanes Katrina and Rita. Under this
unique initiative, SBA provides its full
(85%) guaranty and streamlined and
centralized loan processing to all
eligible lenders that agree to make
expedited SBA 7(a) loans available to
small businesses located in, locating to
or re-locating in the parishes/counties
that have been Presidentially-declared
as disaster areas resulting from
Hurricanes Katrina and Rita, plus any
contiguous parishes/counties.
To maximize the effectiveness of the
GO Loan Pilot, on November 17, 2005,
SBA published a notice in the Federal
Register waiving for the GO Loan Pilot
certain Agency regulations for the 7(a)
Business Loan Program. (70 FR 69645).
Since the pilot was designed as a
temporary program scheduled to expire
on September 30, 2006, and was
extended to September 30, 2008, the
waiver of certain Agency regulations
also is due to expire on September 30,
2008. However, the Agency believes that
there is a continuing, substantial need
for the specific SBA assistance provided
by this pilot in the affected areas. As
part of a comprehensive federal
initiative to assist in the continuing
recovery of these highly devastated
communities, the Agency believes it is
essential that SBA extend this unique
and vital program through September
30, 2009. Accordingly, the SBA is also
extending its waiver of the Agency
regulations identified in the Federal
Register notice at 70 FR 69645 through
September 30, 2009.
SBA’s waiver of these provisions is
authorized by regulations. These
waivers apply only to those loans
approved under the GO Loan Pilot and
will last only for the duration of the
Pilot, which expires September 30,
2009. As part of the GO Loan Pilot,
these waivers apply only to those small
businesses located in, locating to or relocating in the parishes/counties that
have been Presidentially-declared as
disaster areas resulting from Hurricanes
Katrina or Rita, plus any contiguous
parishes/counties. (A list of all eligible
parishes/counties is located at http://
www.sba.gov/idc/groups/public/
documents/sba_homepage/
serv_goloan_3.pdf.)

SUPPLEMENTARY INFORMATION:

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