Notice of Intent to Cancel Investment Adviser Registrations Under Section 203(h) of the Investment Advisers Act of 1940

Content

April 14, 2026. Notice is given that the Securities and Exchange Commission (the “ Commission ”) intends to issue an order, pursuant to section 203(h) of the Investment Advisers Act of 1940 (the “ Act ”), cancelling the registrations of the investment advisers whose names appear in the attached Appendix, hereinafter referred
to as the “ registrants. ”

Section 203(h) of the Act provides, in pertinent part, that if the Commission finds that any person registered under section
203, or who has pending an application for registration filed under that section, is no longer in existence, is not engaged
in business as an investment adviser, or is prohibited from registering as an investment adviser under section 203A, the Commission
shall by order cancel the registration of such person.

Each registrant listed in the attached Appendix is registered with the Commission as an internet investment adviser pursuant
to rule 203A-2(e) under the Act (the “internet adviser exemption”) but appears to be ineligible for the internet adviser exemption.
The Commission amended the internet adviser exemption with a compliance date of March 31, 2025. Accordingly, the Commission
believes that reasonable grounds exist for a finding that these registrants are no longer in existence, are not engaged in
business as investment advisers, or are prohibited from registering as investment advisers under section 203A, and that their

registrations should be cancelled pursuant to section 203(h) of the Act.

Notice is also given that any interested person may, by May 11, 2026 at 5:30 p.m., Eastern time, submit to the Commission
in writing a request for a hearing on the cancellation of the registration of any registrant listed in the attached Appendix,
accompanied by a statement as to the nature of such person's interest, the reason for such person's request, and the issues,
if any, of fact or law proposed to be controverted, and the writer may request to be notified if the Commission should order
a hearing thereon. Any such communication should be emailed to the Commission's Secretary at Secretarys-Office@sec.gov. The email should include the SEC Number referenced in the attached Appendix.

At any time after May 11, 2026, the Commission may issue an order or orders cancelling the registrations of any or all of
the registrants listed in the attached Appendix, upon the basis of the information stated above, unless an order or orders
for a hearing on the cancellation shall be issued upon request or upon the Commission's own motion. Persons who requested
a hearing, or who requested to be advised as to whether a hearing is ordered, will receive any notices and orders issued in
this matter, including the date of the hearing (if ordered) and any postponements thereof. Any registrant whose registration
is cancelled under delegated authority may appeal that decision directly to the Commission in accordance with rules 430 and
431 of the Commission's rules of practice (17 CFR 201.430 and 431).

ADDRESSES:

The Commission: Secretarys-Office@sec.gov.

FOR FURTHER INFORMATION CONTACT:

Priscilla Dao, Senior Counsel, at 202-551-6825; SEC, Division of Investment Management, Chief Counsel's Office, 100 F Street
NE, Washington, DC 20549-8549.

For the Commission, by the Division of Investment Management, pursuant to delegated authority. (1)

Sherry R. Haywood, Assistant Secretary.

Appendix

[FR Doc. 2026-07478 Filed 4-16-26; 8:45 am] BILLING CODE 8011-01-P

Footnotes

(1) 17 CFR 200.30-5(e)(2).

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