SEC News Digest

COMMISSION ANNOUNCEMENTS

SEC Announces Forum on Small Business Capital Formation

Forum to Focus on Impact of Recent Capital Market Events on Small Businesses

The Securities and Exchange Commission today announced that it will hold its annual forum on small business capital formation on Nov. 20, 2008, at its Washington, D.C., headquarters.

The SEC forum will focus on the impact of recent capital market events on small business capital formation in the United States. In particular, the participants at the forum will consider the small business impact of the Emergency Economic Stabilization Act of 2008, ways to eliminate or reduce impediments in the capital-raising process for smaller companies, and the effects of mark-to-market accounting on small businesses.

"This forum will continue to provide insightful recommendations on how the SEC and other federal agencies may assist small business capital formation," said Gerald Laporte, Chief of the SEC's Office of Small Business Policy. "Since 1982, this forum has served as an important way for the Commission and its staff to receive input on ways to improve access to capital for small businesses."

The forum will begin at 9 a.m. ET and will include roundtable discussions and breakout group sessions where participants will work together to formulate specific policy recommendations. The recommendations will be considered by the Commission and also will be sent to Congress and referred to other government agencies if they involve matters other than the federal securities laws.

The public can suggest specific topics and recommendations for consideration at this year's forum by e-mailing the SEC's Office of Small Business Policy at SmallBusiness@sec.gov. Suggestions also can be mailed to that office at the agency's headquarters at 100 F Street NE, Washington, DC 20549-3628.

Roundtable on Mark-to-Market Accounting - Wednesday, October 29, 2008 - 9:00 a.m.

The Roundtable will take place in the Auditorium of the Commission's headquarters at 100 F Street, NE, Washington D.C. The Roundtable will be open to the public with seating on a first-come, first-served basis. Doors will open at 8:30 a.m. Visitors will be subject to security checks.

The roundtable will consist of an open discussion on implications of mark-to-market accounting on the recent period of market turmoil. The roundtable will be organized as two panels, each consisting of investors, issuers, auditors and other parties with experience in mark-to-market accounting.

For further information, please contact the Office of the Secretary at (202) 551-5400.

ENFORCEMENT PROCEEDINGS

In the Matter of Curecom.com, Inc., et al.

An Administrative Law Judge has issued an Order Making Findings and Revoking the Registration of Securities of Curecom.com, Inc., Edlam Acquisition Corp., Five Star Broadband Wireless, Inc., LeBlanc & Associates, Inc., New River Investments, Inc., Olympus International, Inc., Provence Capital Corp., Vertical Solutions, Inc., and Waistech International, Inc., by Default, in Curecom.com, Inc., Admin. Proc. No. 3-13192 (Default Order). The Default Order finds that each of the named Respondents failed to file required periodic reports with the Commission. Because of these reporting failures, each named Respondent failed to comply with Section 13(a) of the Securities Exchange Act of 1934 and Exchange Act Rules 13a-1 and 13a-13. The Default Order finds it necessary and appropriate for the protection of investors to revoke the registration of each class of each Respondent's registered securities. (Rel. 34-58816; File No. 3-13192)

In the Matter of StyleSite Marketing, Inc.

An Administrative Law Judge has issued an Order Making Findings and Revoking Registrations by Default (Default Order) in StyleSite Marketing, Inc., Administrative Proceeding No. 3-13174. The Order Instituting Proceedings alleged that two Respondents each failed repeatedly to file required annual and quarterly reports while their securities were registered with the Securities and Exchange Commission.

The Default Order finds these allegations to be true. It revokes the registrations of each class of registered securities of StyleSite Marketing, Inc., and Supreme Equipment & Systems Corp., pursuant to Section 12(j) of the Securities Exchange Act of 1934. (Rel. 34-58819; File No. 3-13174)

In the Matter of Boochm Systems, Inc.

An Administrative Law Judge has issued an Order Making Findings and Revoking Registrations by Default as to Three Respondents (Default Order) in Boochm Systems, Inc., Administrative Proceeding No. 3-13177. The Order Instituting Proceedings alleged that four Respondents each failed repeatedly to file required annual and quarterly reports while their securities were registered with the Securities and Exchange Commission.

The Default Order finds these allegations to be true as to three Respondents. It revokes the registrations of each class of registered securities of Boochm Systems, Inc., J.S.J. Capital Corp., and National Asset Acquisition, Inc., pursuant to Section 12(j) of the Securities Exchange Act of 1934.

The fourth Respondent, Park Hill Capital II Corp., submitted a settlement offer, which the Commission accepted. (Rel. 34-58820; File No. 3-13177)

Defendant in SEC Enforcement Action Sentenced to 63 Months in Prison on Related Criminal Charges for Defrauding Investors

The Commission announced that on Oct. 16, 2008, the federal court in Massachusetts sentenced Stephen L. Hochberg, an accountant turned business consultant and unregistered investment adviser, for criminal charges based on his operation of a fraudulent investment scheme. The sentence ordered Hochberg to serve 63 months imprisonment, followed by three years of supervised release, and to pay restitution in the amount of $1,791,500.

Hochberg was charged in a 17-count criminal information on May 21, 2008 that alleged, among other things, that from in or about September 2002 and continuing through in or about August 2007, Hochberg obtained at least $1,541,500 from six investors for a purported real estate investment fund, Realty Funding LLC, that did not exist. The information also alleges that, in or about June 2003 and April 2004, Hochberg obtained a total of $150,000 from an elderly investor for a purported investment in a tax free investment fund. According to the information, in both schemes, Hochberg never invested any funds as he described and instead used the funds for his own personal expenses and business debts. On June 13, 2008, Hochberg pled guilty to eight counts of wire fraud and nine counts of securities fraud.

On May 21, 2008, the Commission filed a related civil injunctive action against Hochberg in the U.S. District Court in Massachusetts alleging many of the same facts charged in the criminal action. The Commission's civil action against Hochberg is still pending.

On June 30, 2008, in a separate administrative action, the Commission issued, based on Hochberg's criminal plea, an order by consent barring Hochberg from association with any investment adviser. [U.S. v. Hochberg (United States District Court for the District of Massachusetts, Criminal Action No. 08-10126-NMG); SEC v. Stephen L. Hochberg (United States District Court for the District of Massachusetts, Civil Action No. 08-10848-DPW)] (LR-20786)

INVESTMENT ADVISERS ACT RELEASES

WLD Enterprises, Inc.

A notice has been issued giving interested persons until Nov. 13, 2008, to request a hearing on an application filed by WLD Enterprises, Inc. for an order under Section 202(a)(11)(G) of the Investment Advisers Act. The order would declare WLD Enterprises, Inc. and certain of its related entities to be persons not within the intent of Section 202(a)(11) of the Advisers Act, which defines the term "investment adviser." (Rel. IA-2804 - October 17)

INVESTMENT COMPANY ACT RELEASES

The Zweig Total Return Fund, et al.

A notice has been issued giving interested persons until Nov. 14, 2008, to request a hearing on an application filed by The Zweig Total Return Fund, et al. under Section 6(c) of the Investment Company Act for an exemption from Section 19(b) of the Act, and Rule 19b-1 under the Act. The order would permit certain registered closed-end management investment companies to make periodic distributions of long-term capital gains (i) with respect to their common stock as part of a managed distribution plan as frequently as twelve times each year, and (ii) with respect to their preferred stock as frequently as required by the terms of such preferred stock. (Rel. IC-28441 - October 20)

Boulder Total Return Fund, Inc, et al.

A notice has been issued giving interested persons until Nov. 14, 2008, to request a hearing on an application filed by Boulder Total Return Fund, Inc., et al. under Section 6(c) of the Investment Company Act for an exemption from Section 19(b) of the Act and Rule 19b-1 under the Act. The order would permit certain registered closed-end management investment companies to make periodic distributions of long-term capital gains (i) with respect to their common stock as part of a managed distribution plan as frequently as twelve times each year, and (ii) with respect to their preferred stock as frequently as required by the terms of such preferred stock. (Rel. IC-28442 - October 20)

SELF-REGULATORY ORGANIZATIONS

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change filed by the International Securities Exchange (SR-ISE-2008-77) relating to fee changes has become immediately effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of October 20. (Rel. 34-58794)

A proposed rule change filed by NYSE Arca to adopt rules to permit the trading of Rate-Modified Foreign Currency Options (SR-NYSEArca-2008-109) has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of October 20. (Rel. 34-58800)

A proposed rule change filed by Financial Industry Regulatory Authority to eliminate FINRA/NSX Trade Reporting Facility Securities Transaction Credit Program (SR-FINRA-2008-050) has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of October 20. (Rel. 34-58804)

A proposed rule change filed by the National Stock Exchange (SR-NSX-2008-18) amending the NSX fee schedule to increase the liquidity taking fee for automatic execution mode transactions has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of October 20. (Rel. 34-58808)

Proposed Rule Change

The NYSE Arca filed a proposed rule change (SR-NYSEArca-2008-108) revising NYSE Arca Rule 5.3 to enable the listing and trading of options on managed fund shares. Publication is expected in the Federal Register during the week of October 20. (Rel. 34-58799)

Approval of Proposed Rule Change

The Commission approved a proposed rule change (SR-AMEX-2008-53) filed by the American Stock Exchange regarding a proposal to amend Amex Rules 925 (Options Confirmations) and 921 (Opening of Options Accounts). Publication is expected in the Federal Register during the week of October 20. (Rel. 34-58814)

SECURITIES ACT REGISTRATIONS

• Latest Securities Act registrations (TXT)

RECENT 8K FILINGS

• Latest 8-K filings (TXT)

http://www.sec.gov/news/digest/2008/dig102108.htm