Archive for Proposed Regulations

The Will of Jesus Christ

The Holy Spirit moved on me when I was around eight years old to read the Bible.  That was also the time I was saved and accepted Jesus as the Lord of my life, and began to speak in tongues.

The Bible was too hard to read for an eight year old in the late 1960’s, so I just read it whenever I was in church.  As I got older I kept reading it that way.  But the Holy Spirit kept moving on me to find a way to increase my reading.

Several years ago, the founder of the Promise Keepers visited our church.  He told his testimony, and mentioned about how to approach reading the Bible.  He said read a chapter from the eight (8) sections of the Bible, in rotation.  And let the Holy Spirit guide your hand on which part of the eight sections to read.  These eight sections are the Pentateuch (the first five books); History (which includes Acts); Prophets; Proverbs (I read Proverbs daily because there are 31 verses for each day of the month); Psalms; the Gospel: the Epistles; and Revelations.

I was so moved, because this was the way I had been looking for.

Recently, while I was reading the Bible, as I try to do daily where I read two chapters in the eight section rotation, I was reading one of my favorite chapters, the last chapter of the Book of Revelations.  I was in a good spirit, and the Holy Spirit moved on me to see that the word “will” is mentioned 12 times in the New International Version of the Bible.  That number “12” and the word “will” moved me.

First, I knew that Jesus had 12 apostles, and there are 12 tribes of Israel.  I wanted to find at least one more place in the Gospel where the number “12” is used.  I found that when Jesus fed the five thousand with only five loaves of bread and two fishes, there were “12” baskets of food left.

Then I looked up the word “will” and found that is has two definitions; to express in future tense, and to express inevitable events.

I was so moved by this that I wanted to put it in my blog to inspire the several hundred members, and anyone else who reads my blog.

 

Below is Revelations, Chapter 22 where the word “will” is stated 12 times (I have numbered them) where John is speaking of his revelation about Heaven:

(Rev 22:1 NIV) Then the angel showed me the river of the water of life, as clear as crystal, flowing from the throne of God and of the Lamb
(Rev 22:2 NIV) down the middle of the great street of the city. On each side of the river stood the tree of life, bearing twelve crops of fruit, yielding its fruit every month. And the leaves of the tree are for the healing of the nations.
(Rev 22:3 NIV) No longer will (#1) there be any curse. The throne of God and of the Lamb will (#2) be in the city, and his servants will (#3) serve him.
(Rev 22:4 NIV) They will (#4) see his face, and his name will (#5) be on their foreheads.
(Rev 22:5 NIV) There will (#6) be no more night. They will (#7) not need the light of a lamp or the light of the sun, for the Lord God will (#8) give them light. And they will (#9) reign for ever and ever.
(Rev 22:6 NIV) The angel said to me, “These words are trustworthy and true. The Lord, the God of the spirits of the prophets, sent his angel to show his servants the things that must soon take place.”
(Rev 22:7 NIV) “Behold, I am coming soon! Blessed is he who keeps the words of the prophecy in this book.”
(Rev 22:8 NIV) I, John, am the one who heard and saw these things. And when I had heard and seen them, I fell down to worship at the feet of the angel who had been showing them to me.
(Rev 22:9 NIV) But he said to me, “Do not do it! I am a fellow servant with you and with your brothers the prophets and of all who keep the words of this book. Worship God!”
(Rev 22:10 NIV) Then he told me, “Do not seal up the words of the prophecy of this book, because the time is near.
(Rev 22:11 NIV) Let him who does wrong continue to do wrong; let him who is vile continue to be vile; let him who does right continue to do right; and let him who is holy continue to be holy.”
(Rev 22:12 NIV) “Behold, I am coming soon! My reward is with me, and I will (#10) give to everyone according to what he has done.
(Rev 22:13 NIV) I am the Alpha and the Omega, the First and the Last, the Beginning and the End.
(Rev 22:14 NIV) “Blessed are those who wash their robes, that they may have the right to the tree of life and may go through the gates into the city.
(Rev 22:15 NIV) Outside are the dogs, those who practice magic arts, the sexually immoral, the murderers, the idolaters and everyone who loves and practices falsehood.
(Rev 22:16 NIV) “I, Jesus, have sent my angel to give you this testimony for the churches. I am the Root and the Offspring of David, and the bright Morning Star.”
(Rev 22:17 NIV) The Spirit and the bride say, “Come!” And let him who hears say, “Come!” Whoever is thirsty, let him come; and whoever wishes, let him take the free gift of the water of life.
(Rev 22:18 NIV) I warn everyone who hears the words of the prophecy of this book: If anyone adds anything to them, God will (#11) add to him the plagues described in this book.
(Rev 22:19 NIV) And if anyone takes words away from this book of prophecy, God will (#12) take away from him his share in the tree of life and in the holy city, which are described in this book.
(Rev 22:20 NIV) He who testifies to these things says, “Yes, I am coming soon.” Amen. Come, Lord Jesus.
(Rev 22:21 NIV) The grace of the Lord Jesus be with God’s people. Amen.

His “will” begins for everyone when they get saved.  Romans 10:9 says [i]f you declare with your mouth, “Jesus is Lord,” and believe in your heart that God raised him from the dead, you will be saved.

Next, we must be obedient to our Lord as it says in Luke 6:41-49.  “Why do you look at the speck of sawdust in your brother’s eye and pay no attention to the plank in your own eye?

How can you say to your brother, ‘Brother, let me take the speck out of your eye,’ when you yourself fail to see the plank in your own eye? You hypocrite, first take the plank out of your eye, and then you will see clearly to remove the speck from your brother’s eye.

No good tree bears bad fruit, nor does a bad tree bear good fruit.

Each tree is recognized by its own fruit. People do not pick figs from thornbushes, or grapes from briers.

A good man brings good things out of the good stored up in his heart, and an evil man brings evil things out of the evil stored up in his heart. For the mouth speaks what the heart is full of.

Why do you call me, ‘Lord, Lord,’ and do not do what I say?

As for everyone who comes to me and hears my words and puts them into practice, I will show you what they are like.

They are like a man building a house, who dug down deep and laid the foundation on rock. When a flood came, the torrent struck that house but could not shake it, because it was well built.

But the one who hears my words and does not put them into practice is like a man who built a house on the ground without a foundation. The moment the torrent struck that house, it collapsed and its destruction was complete.”

 

What Jesus does for his followers is found in Proverbs 21:21 where it says [w]hoever pursues righteousness and love finds life, prosperity and honor.

We must do his will and live a gospel life, and say to ourselves as often as needed, mountain high, valley low Jesus I am yours forever.

SEC Proposes Amendments to Form PF for Private Equity Advisers (Abstract)

One June 5, 2013, the SEC proposed amendments impacting money market funds and money market type funds.  This is Part IV of a Four-Part Blog on the 671-page proposal delineated in the following compliance areas: (ia) changes the net asset value per share (“NAV”) from fixed-rate to floating-rate for certain money market funds; (ib) authorizes money market funds to suspend redemptions or impose liquidity fees during heavy redemption periods. These proposed rule changes are “designed to address money market funds’ susceptibility to heavy redemptions, improve their ability to manage and mitigate potential contagion from such redemptions, and increase the transparency of their risks, while preserving, as much as possible, the benefits of money market funds.”  Under this proposal, the SEC continued that they could adopt either alternative by itself or a combination of the two alternatives.;” (ii) additional disclosures, including new Form N-CR and Form N-MFP; (iii) portfolio diversification and stress testing of money market funds holdings; (iv) additional disclosure on Form PF of money market type funds held by private equity firms.

The SEC proposed to amend the Form PF section where private equity advisers report information regarding the private funds.  Specifically, “liquidity funds,” which are private funds that seek to maintain a stable NAV (or minimize fluctuations in their NAVs) and thus can resemble money market funds.  For purposes of Form PF, a “liquidity fund” is any private fund that seeks to generate income by investing in a portfolio of short term obligations in order to maintain a stable net asset value per unit or minimize principal volatility for investors.

Large liquidity fund advisers, which are registered advisers with $1 billion or more in combined money market fund and liquidity fund assets, would file substantially the same information with respect to their liquidity funds’ portfolio holdings on Form PF as money market funds are required to file on Form N-MFP.  In addition, provide information about any securities sold by their liquidity funds during the reporting period, including sale and purchase prices.  Finally, large liquidity fund advisers would identify any money market fund advised by the adviser or its related persons that pursues substantially the same investment objective and strategy and invests side by side in substantially the same positions as a liquidity fund the adviser reports on Form PF.

Also, it was proposed to remove current Questions 56 and 57 on Form PF because these questions generally require large liquidity fund advisers to provide information about their liquidity funds’ portfolio holdings broken out by asset class (rather than security by security).  And regulators would be able to derive the information currently reported in response to those questions from the new portfolio holdings information advisers would provide.

 

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SEC Proposes Amendments to Form PF for Private Equity Advisers

One June 5, 2013, the SEC proposed amendments impacting money market funds and money market type funds.  This is Part IV of a Four-Part Blog on the 671-page proposal delineated in the following compliance areas: (ia) changes the net asset value per share (“NAV”) from fixed-rate to floating-rate for certain money market funds; (ib) authorizes money market funds to suspend redemptions or impose liquidity fees during heavy redemption periods. These proposed rule changes are “designed to address money market funds’ susceptibility to heavy redemptions, improve their ability to manage and mitigate potential contagion from such redemptions, and increase the transparency of their risks, while preserving, as much as possible, the benefits of money market funds.”  Under this proposal, the SEC continued that they could adopt either alternative by itself or a combination of the two alternatives.;” (ii) additional disclosures, including new Form N-CR and Form N-MFP; (iii) portfolio diversification and stress testing of money market funds holdings; (iv) additional disclosure on Form PF of money market type funds held by private equity firms.

The SEC proposed to amend the Form PF section where private equity advisers report information regarding the private funds.  Specifically, “liquidity funds,” which are private funds that seek to maintain a stable NAV (or minimize fluctuations in their NAVs) and thus can resemble money market funds.  For purposes of Form PF, a “liquidity fund” is any private fund that seeks to generate income by investing in a portfolio of short term obligations in order to maintain a stable net asset value per unit or minimize principal volatility for investors.

Large liquidity fund advisers, which are registered advisers with $1 billion or more in combined money market fund and liquidity fund assets, would file substantially the same information with respect to their liquidity funds’ portfolio holdings on Form PF as money market funds are required to file on Form N-MFP.  In addition, provide information about any securities sold by their liquidity funds during the reporting period, including sale and purchase prices.  Finally, large liquidity fund advisers would identify any money market fund advised by the adviser or its related persons that pursues substantially the same investment objective and strategy and invests side by side in substantially the same positions as a liquidity fund the adviser reports on Form PF.

Also, it was proposed to remove current Questions 56 and 57 on Form PF because these questions generally require large liquidity fund advisers to provide information about their liquidity funds’ portfolio holdings broken out by asset class (rather than security by security).  And regulators would be able to derive the information currently reported in response to those questions from the new portfolio holdings information advisers would provide.

The SEC stated that the proposed Form PF changes are designed to achieve two primary goals.  First, they are designed to ensure to the extent possible that any further money market fund reforms do not decrease transparency in the short-term financing markets, and to better enable FSOC to monitor and address any related systemic risks and to better enable us to develop effective regulatory policy responses to any shift in investor assets.  Second, the proposed amendments to Form PF are designed to allow FSOC and us to more effectively administer our regulatory programs even if investors do not shift their assets as a result of any further money market fund reforms, as the increased transparency concerning liquidity funds, combined with information we already collect on Form N-MFP, will provide a more complete picture of the short-term financing markets in which liquidity funds and money market funds both invest.

Finally, it was reiterated what was discussed in the Form PF Adopting Release, that the SEC does not intend to make public Form PF information identifiable to any particular adviser or private fund, the Dodd-Frank Act amended the Advisers Act to preclude them from being compelled to reveal this information except in very limited circumstances.

 

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