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the list of Negotiated Service SECURITIES AND EXCHANGE FILING DATE: The application was filed Agreements in the Mail Classification COMMISSION on October 4, 2017 and was amended on Schedule’s Competitive Products List. February 8, 2018 and August 10, 2018. HEARING OR NOTIFICATION OF HEARING: An DATES: Date of required notice: August [ Act Release No. order granting the requested relief will 21, 2018. 33201; File No. 812–14831] be issued unless the Commission orders FOR FURTHER INFORMATION CONTACT: Equitable Life Insurance a hearing. Interested persons may Elizabeth Reed, 202–268–3179. Company, et al. request a hearing by writing to the Secretary of the Commission and SUPPLEMENTARY INFORMATION: The August 15, 2018. ® serving the Applicants with a copy of United States Postal Service hereby AGENCY: Securities and Exchange the request, personally or by mail. gives notice that, pursuant to 39 U.S.C. Commission (‘‘Commission’’). Hearing requests should be received by 3642 and 3632(b)(3), on August 16, ACTION: Notice. the Commission by 5:30 p.m. on 2018, it filed with the Postal Regulatory September 10, 2018 and should be Commission a USPS Request to Add Notice of application for an order accompanied by proof of service on the Priority Mail Express & Priority Mail approving the substitution of certain Applicants in the form of an affidavit or, Contract 71 to Competitive Product List. securities pursuant to section 26(c) of for lawyers, a certificate of service. Documents are available at the Investment Company Act of 1940, as Pursuant to rule 0–5 under the Act, www.prc.gov, Docket Nos. MC2018–209, amended (the ‘‘Act’’) and an order of hearing requests should state the nature CP2018–291. exemption pursuant to section 17(b) of of the writer’s interest, any facts bearing the Act from section 17(a) of the Act. upon the desirability of a hearing on the Elizabeth Reed, matter, the reason for the request, and Attorney, Corporate and Postal Business Law. APPLICANTS: AXA Equitable Life Insurance Company (‘‘AXA Equitable’’), the issues contested. Persons who wish [FR Doc. 2018–17990 Filed 8–20–18; 8:45 am] MONY Life Insurance Company of to be notified of a hearing may request BILLING CODE 7710–12–P America (‘‘MONY America’’), Separate notification by writing to the Account 70 of AXA Equitable Commission’s Secretary. (‘‘Separate Account 70’’), Separate ADDRESSES: Secretary, Securities and POSTAL SERVICE Account A of AXA Equitable (‘‘Separate Exchange Commission, 100 F Street NE, Account A’’), Separate Account FP of Washington, DC 20549–1090. Product Change—Priority Mail Applicants: Steven M. Joenk, Managing Negotiated Service Agreement AXA Equitable (‘‘Separate Account FP’’), MONY America Variable Account Director and Chief Investment Officer, AXA Equitable Life Insurance Company, AGENCY: Postal ServiceTM. K ((‘‘MONY America Separate Account K’’) and together with Separate Account 1290 Avenue of the Americas, New ACTION: Notice. 70, Separate Account A and Separate York, New York 10104; Patricia Louie, Account FP, the ‘‘Separate Accounts’’) Esq., Managing Director and Associate SUMMARY: The Postal Service gives (collectively, the ‘‘Section 26 General Counsel, AXA Equitable Life notice of filing a request with the Postal Applicants’’); and Separate Account 65 Insurance Company, 1290 Avenue of the Regulatory Commission to add a of AXA Equitable (‘‘Separate Account Americas, New York, New York 10104; domestic shipping services contract to 65’’) and EQ Advisors Trust (the ‘‘EQ and Mark C. Amorosi, Esq., K&L Gates LLP, 1601 K Street NW, Washington, DC the list of Negotiated Service Trust’’ and collectively with Separate 20006. Agreements in the Mail Classification Account 65 and the Section 26 FOR FURTHER INFORMATION CONTACT: Schedule’s Competitive Products List. Applicants, the ‘‘Section 17 Applicants’’).1 Jennifer O. Palmer, Senior Counsel, at DATES: Date of required notice: August (202) 551–5786, or David J. Marcinkus, SUMMARY OF APPLICATION: The Section 21, 2018. Branch Chief at (202) 551–6825 26 Applicants seek an order pursuant to (Division of , FOR FURTHER INFORMATION CONTACT: section 26(c) of the Act, approving the Chief Counsel’s Office). Elizabeth Reed, 202–268–3179. substitution of shares issued by certain SUPPLEMENTARY INFORMATION: investment portfolios of registered The SUPPLEMENTARY INFORMATION: The following is a summary of the ® investment companies (the ‘‘Removed United States Postal Service hereby Portfolios’’) for shares of certain application. The complete application gives notice that, pursuant to 39 U.S.C. investment portfolios of the EQ Trust may be obtained via the Commission’s 3642 and 3632(b)(3), on August 16, (the ‘‘Replacement Portfolios’’), held by website by searching for the file 2018, it filed with the Postal Regulatory the Separate Accounts (except for number, or for an Applicant using the Commission a USPS Request to Add Separate Account 65) to support certain Company name box, at http:// Priority Mail Contract 463 to variable annuity contracts and/or www.sec.gov.search/search.htm, or by Competitive Product List. Documents variable life insurance contracts (the calling (202) 551–8090. are available at www.prc.gov, Docket ‘‘Contracts’’). The Section 17 Applicants Applicants’ Representations Nos. MC2018–208, CP2018–290. seek an order pursuant to section 17(b) 1. AXA Equitable is a New York of the Act exempting them from section Elizabeth Reed, life insurance company licensed to 17(a) of the Act to the extent necessary conduct insurance business in all fifty Attorney, Corporate and Postal Business Law. to permit them to engage in certain in- [FR Doc. 2018–17989 Filed 8–20–18; 8:45 am] states of the United States, the District kind transactions. of Columbia, Puerto Rico and the Virgin BILLING CODE 7710–12–P Islands. AXA Equitable is wholly- 1 For purposes of this Notice, Separate Account owned by AXA Financial, Inc. (‘‘AXA 65 is also a ‘‘Separate Account’’ and collectively with Separate Account 70, Separate Account A, Financial’’), a holding company. Separate Account FP and MONY America Separate 2. MONY America is an Arizona stock Account K, the ‘‘Separate Accounts.’’ life insurance company licensed to

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conduct insurance business in all fifty Contracts. AXA Equitable and MONY policies. As set forth in the prospectuses states of the United States, the District America are the legal owners of the for the Contracts, each Contract of Columbia, Puerto Rico and the Virgin assets in their respective Separate provides that AXA Equitable or MONY Islands. MONY America is an indirect Accounts. The Separate Accounts are America, as applicable, reserves the wholly-owned subsidiary of AXA segmented into subaccounts, and each right to substitute shares of the Financial. subaccount invests in an underlying underlying investment options in which 3. Each Separate Account meets the registered open-end management the Separate Accounts invest for shares definition of ‘‘separate account,’’ as investment company or series thereof. of any underlying investment options defined in section 2(a)(37) of the Act 4. The Contracts are each registered already held or to be held in the future and rule 0–1(e) thereunder. With the under the Securities Act of 1933, as by the Separate Accounts. exception of Separate Account 65, the amended (the ‘‘1933 Act’’) on Form N– Separate Accounts are registered under 4 or Form N–6, as applicable. Each 6. AXA Equitable and MONY the Act as unit investment trusts. Contract has particular fees, charges, America, on behalf of themselves and Separate Account 65 is excluded from and investment options, as described in their respective Separate Accounts, registration under the Act pursuant to the Contracts’ respective prospectuses. propose to exercise their contractual section 3(c)(11) of the Act and is not a 5. The Contracts include individual rights to substitute shares of the Section 26 Applicant. The assets of the and group variable annuity contracts or Removed Portfolios for shares of the Separate Accounts support the flexible premium, scheduled premium Replacement Portfolios Contracts and interests in the Separate and single premium individual, second (‘‘Substitutions’’), as shown in the table Accounts offered through such to die and corporate variable life below:

Substitution Removed portfolio Replacement portfolio No.

1 ...... American Century VP Mid Cap Value Fund (Class II) ...... EQ/American Century Mid Cap Value Portfolio (Class IB). 2 ...... Fidelity® VIP Contrafund® (Initial Class, Service Class 2) ...... EQ/Fidelity Institutional AMSM Large Cap Portfolio (Class K, Class IB). 3 ...... Franklin Rising Dividends VIP Fund (Class 2) ...... EQ/Franklin Rising Dividends Portfolio (Class IB). 4 ...... Franklin Strategic Income VIP Fund (Class 2) ...... EQ/Franklin Strategic Income Portfolio (Class IB). 5 ...... Goldman Sachs VIT Mid Cap Value Fund (Service Class) ...... EQ/Goldman Sachs Mid Cap Value Portfolio (Class IB). 6 ...... V.I. Global Real Estate Fund (Series II Class) ...... EQ/Invesco Global Real Estate Portfolio (Class IB). 7 ...... Invesco V.I. International Growth Fund (Series II Class) ...... EQ/Invesco International Growth Portfolio (Class IB). 8 ...... Ivy VIP Energy (Class II) ...... EQ/Ivy Energy Portfolio (Class IB). 9 ...... Ivy VIP Mid Cap Growth (Class II) ...... EQ/Ivy Mid Cap Growth Portfolio (Class IB). 10 ...... Ivy VIP Science and Technology (Class II) ...... EQ/Ivy Science and Technology Portfolio (Class IB). 11 ...... Retirement Emerging Markets Equity Portfolio (Service EQ/Lazard Emerging Markets Equity Portfolio (Class IB). Class). 12 ...... MFS International Value Portfolio (Service Class) ...... EQ/MFS International Value Portfolio (Class IB). 13 ...... MFS Technology Portfolio (Service Class) ...... EQ/MFS Technology Portfolio (Class IB). 14 ...... MFS Utilities Series (Initial Class, Service Class) ...... EQ/MFS Utilities Series Portfolio (Class K, Class IB). 15 ...... PIMCO Real Return Portfolio (Advisor Class) ...... EQ/PIMCO Real Return Portfolio (Class IB). 16 ...... PIMCO Total Return Portfolio (Advisor Class) ...... EQ/PIMCO Total Return Portfolio (Class IB). 17 ...... T. Rowe Price Health Sciences Portfolio (II Class) ...... EQ/T. Rowe Price Health Sciences Portfolio (Class IB).

7. The Replacement Portfolios are Applicants, the Section 17 Applicants and simplify fund lineups while series of the EQ Trust, a Delaware or FMG. reducing costs and maintaining a menu statutory trust registered as an open-end 9. Applicants state that the proposed of investment options that would offer management investment company Substitutions are part of an ongoing a similar diversity of investment options under the Act (File No. 811–07953) and effort by AXA Equitable and MONY after the proposed Substitutions as is whose shares are registered under the America to make their Contracts more currently available under the Contracts. 1933 Act (File No. 333–17217). The attractive to existing and prospective Applicants believe that the Replacement Replacement Portfolios are currently Contract owners. Applicants note that Portfolios have investment objectives, as available only as investment allocation the proposed Substitutions are intended described in their prospectuses, which 2 options under variable insurance to improve portfolio manager selection are identical, and principal investment contracts issued by AXA Equitable and strategies and principal risks, as 2 The EQ Trust and FMG may rely on an order MONY America. described in their prospectuses, which from the Commission that permits FMG, subject to are identical or substantially similar to 8. AXA Equitable Funds Management certain conditions, including approval of the EQ Trust’s board of trustees but without the approval the corresponding Removed Portfolios, Group, LLC (‘‘FMG’’), a wholly-owned of shareholders, to select certain wholly-owned and making those Replacement Portfolios subsidiary of AXA Equitable and an non-affiliated investment sub-advisers to manage all appropriate candidates as substitutes. affiliate of MONY America, serves as the or a portion of the assets of each portfolio of the Information for each Removed Portfolio EQ Trust pursuant to an investment sub-advisory investment adviser of each Replacement agreement with FMG, and to materially amend sub- Portfolio. FMG is a Delaware limited advisory agreements with FMG. See EQ Advisors the Commission with respect to any Replacement liability company that is registered as an Trust and EQ Financial Consultants, Inc., Portfolio without first obtaining shareholder Investment Company Act Release Nos. 23093 (Mar. approval of the change in sub-adviser, the new sub- investment adviser under the 30, 1998) (notice) and 23128 (April 24, 1998) (the adviser, or the Replacement Portfolio’s ability to Investment Advisers Act of 1940. Each ‘‘Manager of Managers Order’’). After the rely on the Manager of Managers Order or any Replacement Portfolio is sub-advised by Substitution Date (defined below), FMG will not replacement order from the Commission, at a a registered investment adviser that is change a Replacement Portfolio’s sub-adviser, add shareholder meeting, the record date for which will a new sub-adviser, or otherwise rely on the Manager be after the proposed Substitution has been unaffiliated with the Section 26 of Managers Order or any replacement order from effected.

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and Replacement Portfolio, including 13. Contract owners will not incur approval of the applicable proposed investment objectives, principal any fees or charges as a result of the Substitutions and of the anticipated investment strategies, principal risks, proposed Substitutions. The obligations Substitution Date (the ‘‘Pre-Substitution and comparative performance history, of the Section 26 Applicants and the Notice’’). Pre-Substitution Notices sent can be found in the application. rights of the affected Contract owners, to Contract owners will be filed with the 10. The Section 26 Applicants agree under the Contracts of affected Contract Commission pursuant to rule 497 under that, for a period of two years following owners will not be altered in any way. the 1933 Act. The Pre-Substitution the implementation of the proposed AXA Equitable, MONY America and/or Notice will advise Contract owners that Substitution (the ‘‘Substitution Date’’), their affiliates (other than the EQ Trust) from the date of the Pre-Substitution and for those Contracts with assets will pay all expenses and transaction Notice through the date 30 days after the allocated to the Removed Portfolio on costs of the Substitutions, including Substitutions, Contract owners may the Substitution Date, AXA Equitable, legal and accounting expenses, any make at least one transfer of Contract MONY America or an affiliate thereof applicable brokerage expenses and other value from the subaccounts investing in (other than the EQ Trust) will fees and expenses. No fees or charges the Removed Portfolios (before the reimburse, on the last business day of will be assessed to the affected Contract Substitutions) or the Replacement each fiscal quarter, the Contract owners owners to effect the Substitutions. The Portfolios (after the Substitutions) to any whose subaccounts invest in the proposed Substitutions will not cause other available subaccount without applicable Replacement Portfolio to the the Contract fees and charges currently charge and without imposing any extent that the Replacement Portfolio’s being paid by Contract owners to be transfer limitations. Among other net annual operating expenses (taking greater after the proposed Substitution information, the Pre-Substitution Notice into account fee waivers and expense than before the proposed Substitution. will inform affected Contract owners reimbursements) for such period In addition, the Substitutions will in no that, except as described in the exceeds, on an annualized basis, the net way alter the tax treatment of affected disruptive transfers or market timing annual operating expenses of the Contract owners in connection with provisions of the relevant prospectus, Removed Portfolio for the most recent their Contracts, and no tax liability will AXA Equitable and MONY America will fiscal year preceding the date of the arise for Contract owners as a result of not exercise any rights reserved under most recently filed application. Neither the Substitutions. the Contracts to impose additional AXA Equitable nor MONY America will 14. From the date of the Pre- restrictions on transfers out of a increase the Contract fees and charges Substitution Notice (defined below) Replacement Portfolio subaccount from that would otherwise be assessed under through 30 days following the the date of the Pre-Substitution Notice, the terms of the Contracts for a period Substitution Date, Contract owners may including limitations on the future of at least two years following the make at least one transfer of Contract number of transfers, until at least 30 Substitution Date. Importantly, for each value from the subaccount investing in days after the Substitution Date. Substitution, the combined current a Removed Portfolio (before the Additionally, all affected Contract management fee and rule 12b–1 fee of Substitution) or the Replacement owners will be sent prospectuses of the the Replacement Portfolio at all asset Portfolio (after the Substitution) to any applicable Replacement Portfolios at levels will be no higher than that of the other available subaccount under the least 30 days before the Substitution corresponding Removed Portfolio at Contract without charge and without Date. corresponding asset levels. imposing any transfer limitations. 16. In addition to the Supplements 11. Applicants represent that as of the Further, on the Substitution Date, distributed to the Contract owners, Substitution Date, the Separate Contract values attributable to within five business days after the Accounts will redeem shares of the investments in each Removed Portfolio Substitution Date, Contract owners Removed Portfolios for cash or in-kind. will be transferred to the corresponding whose assets are allocated to a Redemption requests and purchase Replacement Portfolio without charge Replacement Portfolio as part of the orders will be placed simultaneously so and without being subject to any proposed Substitutions will be sent a that Contract values will remain fully transfer limitations. Moreover, except as written notice (each, a ‘‘Confirmation’’) invested at all times. described in the disruptive transfer or informing them that the Substitutions 12. Each Substitution will be effected market timing provisions of the relevant were carried out as previously notified. at the relative net asset values of the prospectus, AXA Equitable and MONY The Confirmation also will restate the respective shares of the Replacement America will not exercise any rights information set forth in the Pre- Portfolios in conformity with section reserved under the Contracts to impose Substitution Notice. The Confirmation 22(c) of the Act and rule 22c–1 restrictions on transfers between the will also reflect the values of the thereunder without the imposition of subaccounts under the Contracts, Contract owner’s positions in the any transfer or similar charges by the including limitations on the future Removed Portfolio before the Section 26 Applicants. The number of transfers, for a period Substitution and the Replacement Substitutions will be effected without beginning at least 30 days before the Portfolio after the Substitution. change in the amount or value of any Substitution Date through at least 30 Legal Analysis Contracts held by affected Contract days following the Substitution Date. owners.3 15. At least 30 days prior to the 1. The Section 26 Applicants request Substitution Date, Contract owners will that the Commission issue an order 3 The Section 26 Applicants state that, because be notified via prospectus supplements pursuant to section 26(c) of the Act the Substitutions will occur at relative net asset that the Section 26 Applicants received approving the proposed Substitutions. value, and the fees and charges under the Contracts will not change as a result of the Substitutions, the or expect to receive Commission Section 26(c) prohibits any depositor or benefits offered by the guarantees under the trustee of a unit that Contracts will be the same immediately before and Removed Portfolios and Replacement Portfolios, invests exclusively in the securities of a after the Substitutions. The Section 26 Applicants which the Section 26 Applicants cannot predict. single issuer from substituting the also state that what effect the Substitutions may Nevertheless, the Section 26 Applicants note that at have on the value of the benefits offered by the the time of the Substitutions, the Contracts will securities of another issuer without the Contract guarantees would depend, among other offer a comparable variety of investment options approval of the Commission. Section things, on the relative future performance of the with as broad a range of risk/return characteristics. 26(c) provides that such approval shall

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be granted by order from the riders as a result of any proposed 17(a). Accordingly, the Section 17 Commission if the evidence establishes Substitution. Moreover, the Section 26 Applicants have determined to seek that the substitution is consistent with Applicants will offer Contract owners relief from section 17(a). the protection of investors and the the opportunity to transfer amounts out 8. The Section 17 Applicants submit purposes of the Act. of the affected subaccounts without any that the terms of the proposed in-kind 2. The Section 26 Applicants submit cost or other penalty (other than those purchases of shares of the Replacement that the Substitutions meet the necessary to implement policies and Portfolios by the Separate Accounts, standards set forth in section 26(c) and procedures designed to detect and deter including the consideration to be paid that, if implemented, the Substitutions disruptive transfers and other ‘‘market and received, as described in the would not raise any of the concerns that timing’’ activities) that may otherwise application, are reasonable and fair and Congress intended to address when the have been imposed for a period do not involve overreaching on the part Act was amended to include this beginning on the date of the Pre- of any person concerned. The Section provision. Applicants state that each Substitution Notice (which supplement 17 Applicants submit that the terms of Substitution protects the Contract will be delivered to the Contract owners the proposed in-kind transactions, owners who have Contract value at least 30 days before the Substitution including those considered to be paid to allocated to a Removed Portfolio by Date) and ending no earlier than 30 days each Removed Portfolio and received by providing Replacement Portfolios with after the Substitution Date. The each Replacement Portfolio involved, identical investment objectives and proposed Substitutions are also unlike are reasonable, fair and do not involve identical or substantially similar the type of substitution that section overreaching principally because the strategies and risks, and providing 26(c) was designed to prevent in that the transactions will conform with all but Contract owners with investment Substitutions have no impact on other one of the conditions enumerated in options that have net annual operating aspects of the Contracts. rule 17a–7 under the Act. The proposed expense ratios that are lower than, or 5. The Section 17 Applicants request transactions will take place at relative equal to, their corresponding investment an order under section 17(b) exempting in conformity with the options before the Substitutions. them from the provisions of section requirements of section 22(c) of the Act 3. AXA Equitable and MONY America 17(a) to the extent necessary to permit and rule 22c–1 thereunder without the have reserved the right under the the Section 17 Applicants to carry out imposition of any transfer or similar Contracts to substitute shares of another some or all of the proposed charges by the Section 26 Applicants. underlying portfolio for one of the Substitutions. The Section 17 The Substitutions will be effected current portfolios offered as an Applicants state that because the without change in the amount or value investment option under the Contracts. proposed Substitutions may be effected, of any Contract held by the affected The Contracts and the Contracts’ in whole or in part, by means of in-kind Contract owners. The Substitutions will prospectuses disclose this right. redemptions and purchases, the in no way alter the tax treatment of 4. The Section 26 Applicants submit proposed Substitutions may be deemed affected Contract owners in connection that the ultimate effect of the proposed to involve one or more purchases or with their Contracts, and no tax liability Substitutions will be to simplify the sales of securities or property between will arise for Contract owners as a result investment line-ups that are available to affiliated persons. of the Substitutions. The fees and Contract owners while reducing 6. Section 17(a)(1) of the Act, in charges under the Contracts will not expenses and continuing to provide relevant part, prohibits any affiliated increase because of the Substitutions. Contract owners with a wide array of person of a registered investment Even though the Separate Accounts, investment options. The Section 26 company, or any affiliated person of AXA Equitable, MONY America and the Applicants state that the proposed such person, acting as principal, from EQ Trust may not rely on rule 17a–7, Substitutions will not reduce in any knowingly selling any or other the Section 17 Applicants believe that manner the nature or quality of the property to that company. Section the rule’s conditions outline the type of available investment options and the 17(a)(2) of the Act generally prohibits safeguards that result in transactions proposed Substitutions also will permit the persons described above, acting as that are fair and reasonable to registered AXA Equitable and MONY America to principals, from knowingly purchasing investment company participants and present information to their Contract any security or other property from the preclude overreaching in connection owners in a simpler and more concise registered investment company. with an investment company by its manner. The Section 26 Applicants also 7. The Section 17 Applicants state affiliated persons. state it is anticipated that after the that the proposed transactions may 9. The Section 17 Applicants also proposed Substitutions, Contract involve a transfer of portfolio securities submit that the proposed in-kind owners will be provided with disclosure by the Removed Portfolios to the purchases by the Separate Accounts are documents that contain a simpler Separate Accounts. Immediately consistent with the policies of the EQ presentation of the available investment thereafter, the Separate Accounts would Trust and the Replacement Portfolios, as options under the Contracts. The purchase shares of the Replacement provided in the EQ Trust’s registration Section 26 Applicants also assert that Portfolios with the portfolio securities statement and reports filed under the the proposed Substitutions are not of received from the Removed Portfolios. Act. Finally, the Section 17 Applicants the type that section 26 was designed to Accordingly, the Section 17 Applicants submit that the proposed Substitutions prevent because they will not result in provide that to the extent AXA are consistent with the general purposes costly forced redemption, nor will they Equitable, MONY America and the of the Act. affect other aspects of the Contracts. In Removed Portfolios, and AXA addition, the proposed Substitutions Equitable, MONY America and the Applicants’ Conditions will not adversely affect any features or Replacement Portfolios, are deemed to Applicants agree that any order riders under the Contracts because none be affiliated persons of one another granting the requested relief will be of the features or riders will change as under section 2(a)(3) or section 2(a)(9) of subject to the following conditions: a result of the Substitutions. the Act, it is conceivable that this aspect 1. The Substitutions will not be Accordingly, no Contract owner will of the proposed Substitutions could be effected unless AXA Equitable or involuntarily lose his or her features or viewed as being prohibited by section MONY America determines that: (i) The

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Contracts allow the substitution of investing in the Removed Portfolio of the Contracts for affected Contract shares of registered open-end (before the Substitution Date) or the owners for a period of at least two years investment companies in the manner Replacement Portfolio (after the following the Substitution Date. contemplated by the application; (ii) the Substitution Date) to any other available For the Commission, by the Division of Substitutions can be consummated as investment option under the Contract Investment Management, under delegated described in the application under without charge for a period beginning at authority. applicable insurance laws; and (iii) any least 30 days before the Substitution Eduardo A. Aleman, regulatory requirements in each Date through at least 30 days following Assistant Secretary. jurisdiction where the Contracts are the Substitution Date. Except as [FR Doc. 2018–17936 Filed 8–20–18; 8:45 am] qualified for sale have been complied described in any market timing/short- with to the extent necessary to complete term trading provisions of the relevant BILLING CODE 8011–01–P the Substitutions. prospectus, the Section 26 Applicants 2. After the Substitution Date, FMG will not exercise any rights reserved SECURITIES AND EXCHANGE will not change a sub-adviser, add a under the Contracts to impose COMMISSION new sub-adviser, or otherwise rely on restrictions on transfers between the the Multi-Manager Order, or any subaccounts under the Contracts, Sunshine Act Meetings replacement order from the including limitations on the future Commission, with respect to any number of transfers, for a period TIME AND DATE: 2:00 p.m. on Thursday, Replacement Portfolio without first beginning at least 30 days before the August 23, 2018. obtaining shareholder approval of the Substitution Date through at least 30 change in sub-adviser, the new sub- days following the Substitution Date. PLACE: Closed Commission Hearing adviser, or the Replacement Portfolio’s 8. All affected Contract owners will be Room 10800. ability to rely on the Multi-Manager notified, at least 30 days before the STATUS: This meeting will be closed to Order, or any replacement order from Substitution Date about: (i) The the public. the Commission, at a shareholder intended Substitution of Removed meeting, the record date for which shall Portfolios with the Replacement MATTERS TO BE CONSIDERED: be after the proposed Substitution has Portfolios; (ii) the intended Substitution Commissioners, Counsel to the been affected. Date; and (iii) information with respect Commissioners, the Secretary to the 3. AXA Equitable, MONY America or to transfers as set forth in Condition 7 Commission, and recording secretaries an affiliate thereof (other than the EQ above. In addition, the Section 26 will attend the closed meeting. Certain Trust) will pay all expenses and Applicants will also deliver to affected staff members who have an interest in transaction costs of the Substitutions, Contract owners, at least 30 days before the matters also may be present. including legal and accounting the Substitution Date, a prospectus for The General Counsel of the expenses, any applicable brokerage each applicable Replacement Portfolio. Commission, or his designee, has expenses and other fees and expenses. 9. The Section 26 Applicants will certified that, in his opinion, one or No fees or charges will be assessed to deliver to each affected Contract owner more of the exemptions set forth in 5 the affected Contract owners to effect within five business days of the U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) the Substitutions. The proposed Substitution Date a written confirmation and (10) and 17 CFR 200.402(a)(3), Substitutions will not cause the which will include: (i) A confirmation (a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and Contract fees and charges currently that the Substitutions were carried out (a)(10), permit consideration of the being paid by Contract owners to be as previously notified; (ii) a restatement scheduled matters at the closed meeting. of the information set forth in the Pre- greater after the proposed Substitution Commissioner Peirce, as duty officer, Substitution Notice; and (iii) values of than before the proposed Substitution. voted to consider the items listed for the 4. The Substitutions will be effected the Contract owner’s positions in the closed meeting in closed session. at the relative net asset values of the Removed Portfolio before the respective shares of the Replacement Substitution and the Replacement The subject matters of the closed Portfolios in conformity with section Portfolio after the Substitution. meeting will be: 22(c) of the Act and rule 22c–1 10. For a period of two years Institution and settlement of thereunder without the imposition of following the Substitution Date, for injunctive actions; any transfer or similar charges by the Contract owners who were Contract Institution and settlement of Section 26 Applicants. The owners as of the Substitution Date, AXA administrative proceedings; and Substitutions will be effected without Equitable, MONY America or an affiliate thereof (other than the EQ Trust) will Other matters relating to enforcement change in the amount or value of any proceedings. Contracts held by affected Contract reimburse, on the last business day of owners. each fiscal quarter, the Contract owners At times, changes in Commission 5. The Substitutions will in no way whose subaccounts invest in the priorities require alterations in the alter the tax treatment of affected applicable Replacement Portfolio to the scheduling of meeting items. Contract owners in connection with extent that the Replacement Portfolio’s CONTACT PERSON FOR MORE INFORMATION: their Contracts, and no tax liability will net annual operating expenses (taking For further information and to ascertain arise for Contract owners as a result of into account fee waivers and expense what, if any, matters have been added, the Substitutions. reimbursements) for such period deleted or postponed; please contact 6. The obligations of the Section 26 exceed, on an annualized basis, the net Brent J. Fields from the Office of the Applicants, and the rights of the annual operating expenses of the Secretary at (202) 551–5400. affected Contract owners, under the Removed Portfolio for the most recent Dated: August 16, 2018. Contracts of affected Contract owners fiscal year preceding the date of this will not be altered in any way. application. In addition, the Section 26 Jill M. Peterson, 7. Affected Contract owners will be Applicants will not increase the Assistant Secretary. permitted to make at least one transfer Contract fees and charges that would [FR Doc. 2018–18069 Filed 8–17–18; 11:15 am] of Contract value from the subaccount otherwise be assessed under the terms BILLING CODE 8011–01–P

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