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COMMISSION ANNOUNCEMENTSSEC Completes 20th Annual International Institute for Securities Market DevelopmentThe Securities and Exchange Commission announced today that it recently completed its 20th Annual International Institute for Securities Market Development. The International Institute is the SEC's flagship international training initiative - a two-week, management-level program covering the development and oversight of securities markets. This year's session was held from April 19 to April 29 at SEC headquarters in Washington, D.C., with 165 delegates attending from 66 participating countries and territories. Approximately 70 speakers made presentations at the Institute, including SEC Chairman Mary Schapiro, Lorin Reisner (SEC Deputy Director of Enforcement), Ethiopis Tafara (Director of the SEC's Office of International Affairs), and a host of SEC senior staff. The Institute also featured presentations by the U.S. Department of Justice, Financial Industry Regulatory Authority, representatives from the securities industry, and academics. Presentation topics included the financial crisis, hedge funds, insider trading, pyramid schemes, market manipulation, conducting examinations of broker dealers and investment advisers, oversight of exchanges, optimal remedies for violations, and investigatory techniques. Ethiopis Tafara, Director of the SEC's Office of International Affairs, said, "The Institutes and the other technical assistance projects by the SEC are helping to build markets around the world, while at the same time ensuring that we have strong regulatory partners that can work with us to protect our markets and our investors. The majority of technical assistance programs include intensive enforcement and investigation training on insider trading, market manipulation, Ponzi schemes, financial accounting fraud, inspections and compliance, and anti-money laundering. The program cultivates invaluable professional and personal contacts with regulatory and law enforcement partners that have served to advance numerous SEC investigations and examinations by receipt of key tips and referrals, production of documents for our investigations, and arrangements for overseas asset restraints in support of SEC cases and to benefit investors." For more information on the SEC's technical assistance program, contact Dr. Robert M. Fisher or Z. Scott Birdwell at the Office of International Affairs at 202-551-6690 or OIA@SEC.gov. (Press Rel. 2010-68) RULES AND RELATED MATTERSApproval of Proposed Plan for the Allocation of Regulatory Responsibilities Pursuant to Rule 17d-2 Between the International Securities Exchange, LLC and the Financial Industry Regulatory Authority, Inc. Concerning Ballista Securities LLCThe Commission approved a proposed plan for the allocation of regulatory responsibilities (File No. 4-596) submitted by The International Securities Exchange and the Financial Industry Regulatory Authority pursuant to Rule 17d-2 under the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of April 19. (Rel. 34-62000) ENFORCEMENT PROCEEDINGSSecurities and Exchange Commission Orders Hearing on Registration Revocation Against Nine Public Companies for Failure to Make Required Periodic FilingsToday the Commission instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registrations of each class of the securities of nine companies for failure to make required periodic filings with the Commission:
In this Order, the Division of Enforcement (Division) alleges that the nine issuers are delinquent in their required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the Administrative Law Judge will hear evidence from the Division and the Respondents to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder, are true. The Administrative Law Judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of these Respondents should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceedings. (Rel. 34-62020; File No. 3-13876) In the Matter of Ultimate Security Systems Corp.An Administrative Law Judge has issued an Order Making Findings and Revoking Registrations by Default as to Five Respondents (Default Order) in Ultimate Security Systems Corp., Administrative Proceeding No. 3-13829. The Order Instituting Proceedings (OIP) alleged that seven Respondents failed repeatedly to file required annual and quarterly reports while their securities were registered with the Securities and Exchange Commission (Commission). The Default Order finds these allegations to be true as to five Respondents. It revokes the registrations of each class of registered securities of United Trans-Western, Inc., Universal Broadband Communications, Inc., Universal Guaranty Investment Co., Urethane Technologies, Inc., and USMX, Inc., pursuant to Section 12(j) of the Securities Exchange Act of 1934. The Commission has previously accepted settlement offers from Ultimate Security Systems Corp. and Universal Bio-Medical Enterprises, Inc., the other two Respondents named in the OIP. (Rel. 34-62022; File No. 3-13829) INVESTMENT COMPANY ACT RELEASESAmerican Vantage CompaniesAn order has been issued on an application filed by American Vantage Companies. The order declares that American Vantage Companies has ceased to be an investment company under Section 8(f) of the Investment Company Act of 1940. (Rel. IC-29261 - April 30) Notices of Deregistration under the Investment Company ActFor the month of April 2010, a notice has been issued giving interested persons until May 25, 2010, to request a hearing on any of the following applications for an order under Section 8(f) of the Investment Company Act declaring that the applicant has ceased to be an investment company:
(Rel. IC-29263 - April 30) SELF-REGULATORY ORGANIZATIONSImmediate Effectiveness of Proposed Rule ChangesA proposed rule change filed by NASDAQ OMX PHLX to amend the by-laws of The NASDAQ OMX Group, Inc. (SR-Phlx-2010-58) 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 April 19. (Rel. 34-61994) A proposed rule change filed by the Financial Industry Regulatory Authority (SR-FINRA-2010-017) to allow FINRA members to use the OTC Reporting Facility to transfer transaction fees charged by one member to another member. Publication is expected in the Federal Register during the week of April 19. (Rel. 34-61997) A proposed rule change (SR-NYSEArca-2010-32) filed by NYSE Arca amending its Fee Schedule 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 April 19. (Rel. 34-62003) A proposed rule change (SR-NYSEArca-2010-27) filed by NYSE Arca amending its Mid-Point Passive Liquidity Order 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 April 19. (Rel. 34-62004) A proposed rule change filed by NYSE Arca to make a technical adjustment to its rules to allow sub-penny quoting of certain securities (SR-NYSEArca-2010-36) 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 April 19. (Rel. 34-62006) The Stock Clearing Corporation of Philadelphia filed a proposed rule change (SR-SCCP-2010-01) under Section 19(b)(1) of the Exchange Act, relating to amendments to the NASDAQ OMX Group, Inc. By-Laws. The rule change became effective upon filing. Publication is expected in the Federal Register during the week of April 19. (Rel. 34-62010) The Boston Stock Exchange Clearing Corporation filed a proposed rule change (SR-BSECC-2010-001) under Section 19(b)(1) of the Exchange Act, relating to amendments to the NASDAQ OMX Group, Inc. By-Laws. The rule change became effective upon filing. Publication is expected in the Federal Register during the week of April 19. (Rel. 34-62011) Proposed Rule ChangesNYSE Arca filed a proposed rule change (SR-NYSEArca-2010-25) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 amending the listing and trading of ETFS Palladium Trust and ETFS Platinum Trust. Publication is expected in the Federal Register during the week of April 19. (Rel. 34-61990) The Commission noticed a proposed rule change (SR-BX-2010-027) submitted by NASDAQ OMX BX pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to establish a new fee for the TotalView service available to Non-Professionals and to establish an optional non-display usage cap for Internal Distributors of TotalView. Publication is expected in the Federal Register during the week of April 19. (Rel. 34-62001) Approval of Proposed Rule ChangeThe Commission approved a proposed rule change submitted by NYSE Arca pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 (SR-NYSEArca-2010-15) to codify prices for its co-location services. Publication is expected in the Federal Register during the week of April 19. (Rel. 34-61999) SECURITIES ACT REGISTRATIONSRECENT 8K FILINGS
http://www.sec.gov/news/digest/2010/dig050310.htm
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