"Search list entry could not be translated. Server was unable to process request. ---> The request was aborted: Could not create SSL/TLS secure channel." - When editing the BBIS Event registration batch assignment

When editing the BBIS Event Registration batch assignment setting, the error "Search list entry could not be translated. Server was unable to process request. ---> The request was aborted: Could not create SSL/TLS secure channel" is thrown.
We are currently evaluating this issue for a fix in a future service pack.

Steps to Duplicate

1) In CRM, go to Web > Manage web transactions > Batch Assignment Settings
2) Click the down chevron next to Event Registrations > Edit > Notice you encounter the error

Environment

 Blackbaud CRM
 4.0
 Blackbaud Internet Solutions
 4.0.173.53

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