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COMMISSION ANNOUNCEMENTSSecurities and Exchange Commission Suspends Trading in the Securities of Seven Issuers for Failure to Make Required Periodic FilingsThe U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of the following issuers, commencing at 9:30 a.m. EDT on May 13, 2010, and terminating at 11:59 p.m. EDT on May 26, 2010:
The Commission temporarily suspended trading in the securities of these seven issuers due to a lack of current and accurate information about the companies because they have not filed periodic reports with the Commission in over two years. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act). The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by these companies. Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject companies unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of these companies that have been subject to a trading suspension until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action. If any broker, dealer or other person has any information which may relate to this matter, they should immediately communicate it to the Delinquent Filings Branch of the Division of Enforcement at (202) 551-5466, or by e-mail at DelinquentFilings@sec.gov. (Rel. 34-62091) Investor Alert: Investors Beware of Entity Calling Itself "U.S. Securities and Equities Administration"The staff of the United States Securities and Exchange Commission (SEC) is issuing this Investor Alert about an entity calling itself the "U.S. Securities and Equities Administration" and other similar names, including the "U.S. Securities Administration" or the "U.S. Securities Bureau." In conversations with members of the public, the entity may have represented that its address is 225 Franklin Street, Boston, Massachusetts. The entity also claims to operate a website at www.gov.ussea.us. It appears that this entity may be requesting up-front fees to remove purported restrictions on shares of stock that investors own, or to release funds purportedly being held by the U.S. government on investors' behalf. Investors should beware that these entities are not United States government agencies and are not affiliated with the United States Securities and Exchange Commission. You can find the correct contact information for the SEC in the Contact Us section of our website and on SEC Division Homepages. If you're ever unsure whether you're dealing with someone from the real SEC, use our online Question Form to ask us. It's not hard to figure out who the real regulators are and how you can contact them. You'll find a list of international securities regulators on the website of the International Organization of Securities Commissions (IOSCO) and a directory of state and provincial regulators in Canada, Mexico, and the U.S. on the website of the North American Securities Administrators Association (NASAA). If someone encourages you to verify information about a deal with an entity that doesn't appear on these lists, you should be wary. For additional tips on investing wisely and avoiding fraud, please visit the following web pages on SEC.gov: Investor Alert: SEC Warns of Government Impersonators SEC Issues Notice of Proposed Plan of Distribution and Opportunity for Comment in the Matter of Fremont Investment Advisors, Inc.The Commission announced today that it has given notice, pursuant to Rule 1103 of the Securities and Exchange Commission's Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. S 201.1103, that Fremont Investment Advisors, Inc. (Respondent) has submitted to the Commission a proposed plan for the distribution of the Fair Fund in the matter of Fremont Investment Advisors, Inc. (Distribution Plan). The Fair Fund is comprised of $4,146,000 in disgorgement, prejudgment interest and penalties paid by the Respondent, plus any interest and income generated while the funds were held by the Commission or by U.S. Department of Treasury's Bureau of Public Debt, less any fees, expenses, reserves, or taxes, if any, incurred by the Fair Fund. The proposed Distribution Plan proposes the distribution of the Fair Fund to investors who held shares in the Fremont U.S. Micro-Cap Fund and the Fremont Global Fund between January 2001 and October 2002 to compensate them for losses resulting from market timing and late trading. Eligible investors will receive, in order of priority, (i) their proportionate share of losses suffered by the fund due to market timing, and (ii) a proportionate share of advisory fees paid by the funds that suffered such losses during the period of such market timing. A copy of the Distribution Plan may be printed from the Commission's public website, http://www.sec.gov. Interested parties may also obtain a written copy of the Distribution Plan by submitting a written request to Michael S. Dicke, Assistant Regional Director, United States Securities and Exchange Commission, 44 Montgomery Street, Suite 2600, San Francisco, CA 94104. All persons who desire to comment on the Distribution Plan may submit their comments, in writing, no later than 30 days from the date of the notice by (i) sending a letter to the Office of the Secretary, United States Securities and Exchange Commission, 100 F Street, N.E., Washington, DC 20549-1090; or (ii) by using the Commission's Internet comment form (http://www.sec.gov/litigation/admin.shtml); or (iii) by sending an e-mail to rule-comments@sec.gov. Copies of all comments must be served, by first-class mail, upon the Division of Enforcement to the attention of Michael S. Dicke, Assistant Regional Director, United States Securities and Exchange Commission, 44 Montgomery Street, Suite 2600, San Francisco, CA 94104. Comments submitted by email or via the Commission's website should include "Administrative Proceeding File Number 3-11726" in the subject line. Comments received will be available to the public. Commenters should only submit information that they wish to make publicly available. (Rel. 34-62090; File No. 3-11726) SEC Investor Advisory Committee Announces Meeting Agenda, List of ParticipantsThe Securities and Exchange Commission's Investor Advisory Committee today announced the agenda for its public meeting to be held on May 17, 2010. The Committee was formed by the SEC in 2009 to advise the Commission as to its regulatory priorities. Dan Ariely, an expert on behavioral economics and author of Predictably Irrational, will discuss his work with regard to factors that influence investor decision-making. The Committee will also hear from a panel of experts on the topic of mandatory arbitration provisions in customer agreements with brokers. The panel will consist of Linda Fienberg of FINRA, Patricia Cowart of Wells Fargo Corp., Jennifer Johnson of Lewis & Clark Law School, and Barbara Black of the University of Cincinnati College of Law. Other issues to be discussed include the fiduciary responsibility of investment professionals (including advisers and brokers), money market fund "net asset value" calculation, and the potential use of public service announcements to provide investor information. The Committee's subcommittees will also report on the status of their activity, including analysis of potential disclosure regarding environmental, social and governance issues. The meeting at the SEC headquarters building at 100 F Street, N.E., Washington, D.C., will be open to the public with seating on a first-come, first-served basis. The meeting also will be webcast on the SEC's website. For additional information about the meeting, contact the SEC's Office of Public Affairs at (202) 551-4120. Agenda and Panelists 9:00 a.m. - Welcome by Commissioner Luis A. Aguilar 9:10 - 10:30 a.m. - Discussion with Dr. Dan Ariely, author of Predictably Irrational 10:30 - 12:30 p.m. - Discussion with Panel: Mandatory Arbitration Moderator: Mercer Bullard, Chair of Investor as Purchaser Subcommittee Panelists: Linda Fienberg, President FINRA's Dispute Resolution Department Patricia Cowart, Section Manager Retail Brokerage Litigation Section Wells Fargo Corp. Law Department Jennifer Johnson, Professor Lewis & Clark Law School Barbara Black, Professor University of Cincinnati College of Law 12:30 - 1:00 p.m. - Lunch Break 1:00 - 2:00 p.m. - Discussion with Staff: Fiduciary Responsibility Staff Presenter: Jennifer McHugh, Senior Advisor to the Chairman Office of the Chairman SEC 2:00 - 2:45 p.m. - Discussion with Staff: Money Market Funds and Net Asset Value Staff Presenter: Robert Plaze, Associate Director Division of Investment Management SEC 2:45 - 3:00 p.m. - Update and Recommendation from Education Subcommittee: Public Service Announcement Campaign 3:00 - 3:10 p.m. - Break 3:10 - 3:45 p.m. - Discussion with Investor as Owner Subcommittee Update from Staff: Status of Prior Committee Recommendations Update from the Subcommittee: ESG Work Plan Discussion: Pending Legislation 3:45 - 4:30 p.m. - Next Steps/Closing Comments 4:30 p.m. - Adjourn (Press Rel. 2010-77) Gerald Hodgkins Named Associate Director in SEC Division of EnforcementThe Securities and Exchange Commission today announced that Gerald Hodgkins has been appointed as an Associate Director of the Division of Enforcement, a senior position in which he will assist in planning and directing the agency's enforcement efforts. Mr. Hodgkins has worked in the Enforcement Division since 1997, overseeing a number of high-profile investigations resulting in significant SEC enforcement actions, including cases involving public company accounting and disclosure, the Foreign Corrupt Practices Act (FCPA), broker-dealer regulation, options backdating and insider trading. "Jerry is smart, experienced, highly respected and committed to investor protection," said Robert Khuzami, Director of the SEC's Division of Enforcement. "These qualities will serve him well in his new and important role in the Enforcement Division." Mr. Hodgkins said, "For more than a decade, it has been my privilege to serve alongside dedicated and talented staff members at the SEC. I am honored to continue to work on behalf of investors in this new position." Mr. Hodgkins is filling the Associate Director position previously held by Fredric Firestone, who left the agency for the private sector. Mr. Hodgkins, 44, joined the SEC staff as a staff attorney in the Division of Enforcement and was promoted to Branch Chief in 1999. He became an Assistant Director in 2007. Before coming to the SEC, Mr. Hodgkins served as a law clerk to the late Honorable Charles R. Richey of the U.S. District Court for the District of Columbia. He also was a litigation associate in the Washington, D.C., office of Howrey LLP. Mr. Hodgkins received his JD from the University of Virginia School of Law and his undergraduate degree from Tufts University. (Press Rel. 2010-78) ENFORCEMENT PROCEEDINGSIn the Matter of David A. WilliamsOn May 12, 2010, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940, Making Findings and Imposing Remedial Sanctions (Order) against David A. Williams (Respondent). The Order finds that on April 23, 2010, an order was entered against Respondent in SEC v. David A. Williams, et al. (Civil Action No. 2:09-cv-2709 JHN (JCx)) (C.D. Cal.), permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Order further finds that the Commission's complaint in SEC v. David A. Williams, et al. alleged that, in connection with the offer and sale of securities of WFG Holdings, Inc. and Sherwood Secured Income Fund, LLC, Respondent falsely represented to investors that the funds raised would be used to develop a broker-dealer business and to invest in real estate. The Commission's complaint alleged that, in fact, Respondent misappropriated millions of dollars of investor money to fund his lavish lifestyle. Based on the above, the Order bars Respondent from association with any broker, dealer, or investment adviser. Respondent consented to the issuance of the Order without admitting or denying any of the findings except as to the entry of the order of permanent injunction. (Rels. 34-62086; IA-3026; File No. 3-13890) In the Matter of Ali T. Far and Choo-Beng LeeOn May 12, 2010, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings and Imposing Remedial Sanctions (Order) against Ali T. Far and Choo-Beng Lee. The Order finds that Far, age 48, resides in Saratoga, California. Far is a Managing Member and co-founder of Spherix Capital LLC (Spherix Capital). Far was also a Managing Member of Far & Lee LLC (Far & Lee). Far was previously a Managing Director at Galleon Management, LP. Far previously held Series 7 and 63 licenses. Lee, age 52, resides in San Jose, California. Lee is a co-founder and President of Spherix Capital. Lee was also a Managing Member of Far & Lee. Lee was previously a portfolio manager with Stratix Asset Management. The Order finds that the Commission's Complaint alleged that in or around July 2007 Lee obtained material, non-public information about Google, Inc. Lee passed this inside information to his business partner Far, and Far and Lee traded on the basis of the information, collectively earning over $450,000 in illicit profits (or avoided losses) in one or more brokerage accounts affiliated with Far & Lee. Again in or around December 2008 and February 2009, Far obtained material, non-public information about Atheros Communications, Inc. Far shared this inside information with Lee. Spherix Capital traded on the basis of the information, collectively earning over $870,000 in illicit profits (or avoided losses) in one or more brokerage accounts affiliated with Spherix Capital. The Order further finds that on Feb. 2, 2010, the United States District Court for the Southern District of New York in SEC v. Galleon Management, LP, et al., Civil Action No. 09 Civ. 8811 (JSR) entered a final judgment against Far and Lee by their consent. The judgment permanently enjoined them from future violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Order further finds that on Oct. 19, 2009, Far pled guilty in a parallel criminal proceeding before the United States District Court for the Southern District of New York, in United States v. Ali Far (Criminal Information No. 1:09-CR-1009). On Oct. 13, 2009, Lee pled guilty in a parallel criminal proceeding before the United States District Court for the Southern District of New York, in United States v. Richard Choo-Beng Lee (Criminal Information No. 1:09-CR-972). The counts of the criminal informations to which Far and Lee pled guilty alleged, inter alia, that they conspired to, and did, obtain inside information regarding several technology companies. In some cases, Far and Lee arranged to pay sources for the inside information. The trades at issue were alleged to have generated over $5 million in illicit profits (or avoided losses) in one or more brokerage accounts affilated with Far & Lee or Spherix Capital. Based on the entry of the injunctions and the criminal convictions, the Order bars Far and Lee from association with any investment adviser. Far and Lee consented to the issuance of the Order without admitting or denying any of the findings in the Order, except as to the entry of the injunction against them and their guilty pleas, which they admitted. (Rel. IA-3027; File No. 3-13891 Commission Orders Hearings on Registration Suspension or Revocation Against Seven Companies for Failure to Make Required Periodic FilingsIn conjunction with today's trading suspension, the Commission also instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of seven companies for failure to make required periodic filings with the Commission:
In this Order, the Division of Enforcement (Division) alleges that the seven 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 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 or 13a-16 thereunder, are true. The 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. 34-62092; File No. 3-13892) In the Matter of Jason HertzOn May 13, 2010, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 and Notice of Hearing (Order) against Jason Hertz, a resident of Tarzana, California, based on the entry of a permanent injunction against him in the civil action entitled Securities and Exchange Commission v. Delta Onshore Management, LLC, et al., Civil Action No. 08-1278 MLB-DWB in the United States District Court for the District of Kansas, Wichita Division. In the Order, the Division of Enforcement alleges that, on April 21, 2010, a final judgment by default was entered against Hertz, permanently enjoining him from future violations of Sections 5(a) and 5(c) of the Securities Act of 1933 and Section 15(a) of the Securities Exchange Act of 1934 and Rule 15(a)(1) promulgated thereunder. The Division of Enforcement further alleges in the Order that on Sept. 19, 2008, the Commission filed a Complaint against Hertz, alleging that between February 2008 and July 2008, he participated in an unregistered securities offering in which approximately $2.8 million was raised from over 50 investors from the sale of interests in a purported oil-and-gas equipment leasing joint venture. According to the Complaint, Hertz, along with two other defendants, supervised two sales offices which offered and sold interest in the venture on a commission basis. A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Hertz an opportunity to dispute the allegations, and to determine what, if any, remedial action is appropriate and in the public interest pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934. The Order directed that an Administrative Law Judge shall issue an initial decision no later than 210 days from the date of service of the Order, pursuant to Rule 360(a)(2) of the Commission's Rules of Practice. (Rel. 34-62093; File No. 3-13893) In the Matter of Nicholas R. FairOn May 13, 2010, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions (Order) against Nicholas R. Fair. The Order finds that on May 4, 2010, a final judgment was entered by consent against Fair, a resident of Fort Collins, Colorado, permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (Securities Act) and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. CFO-5, LLC, et al., No. 1:08-cv-1594-PAB, in the United States District Court for the District of Colorado. In the Order, the Commission finds that the Commission's complaint alleged that Fair solicited funds from investors representing that the funds would be used to trade in European medium term notes. The complaint further alleged that Fair's representations were false, that the European medium term notes did not exist, and that many of the documents provided to investors contained the indicia of prime bank fraud. The complaint also alleged that Fair sold securities in unregistered transactions, acted as an unregistered broker or dealer in connection with the offer and sale of securities, and engaged in a variety of conduct which operated as a fraud and deceit on investors. Based on the above, the Order bars Fair from association with any broker or dealer. Fair consented to the issuance of the Order without admitting or denying any of the findings in the Order, except he admitted the entry of the injunction. (Rel. 34-62096; File No. 3-13894) In the Matter of Charles L. KennedyOn May 13, 2010, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions (Order) against Charles L. Kennedy. The Order finds that on May 4, 2010, a final judgment was entered by consent against Kennedy, a resident of Tampa, Florida, permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (Securities Act) and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. CFO-5, LLC, et al., No. 1:08-cv-1594-PAB, in the United States District Court for the District of Colorado. In the Order, the Commission finds that the Commission's complaint alleged that Kennedy, a pastor of a church in Florida, solicited funds from investors who shared his religious affiliation, representing that the funds would be used to trade in European medium term notes paying nearly immediate returns ranging from 200 to 1000 percent. The complaint further alleged that Kennedy's representations were false, that the European medium term notes did not exist, and that Kennedy raised approximately $245,000 which he misappropriated and spent for his own purposes. The complaint also alleged that Kennedy sold securities in unregistered transactions, acted as an unregistered broker or dealer in connection with the offer and sale of securities, and engaged in a variety of conduct which operated as a fraud and deceit on investors. Based on the above, the Order bars Kennedy from association with any broker or dealer. Kennedy consented to the issuance of the Order without admitting or denying any of the findings in the Order, except he admitted the entry of the injunction. (Rel. 34-62097A; File No. 3-13895) In the Matter of Edwin A. SmithOn May 13, 2010, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions (Order) against Edwin A. Smith. The Order finds that on May 4, 2010, a final judgment was entered by consent against Smith, a resident of Denver, Colorado, permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (Securities Act) and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. CFO-5, LLC, et al., No. 1:08-cv-1594-PAB, in the United States District Court for the District of Colorado. In the Order, the Commission finds that the Commission's complaint alleged that Smith solicited funds from investors representing that the funds would be used to trade in European medium term notes. The complaint further alleged that Smith's representations were false, that the European medium term notes did not exist, and that Smith used investors' funds for unauthorized purposes, including keeping funds for his own use, paying off unrelated loans, making Ponzi-like payments to investors, and satisfying unrelated civil judgments. The complaint also alleged that Smith sold securities in unregistered transactions, acted as an unregistered broker or dealer in connection with the offer and sale of securities, and engaged in a variety of conduct which operated as a fraud and deceit on investors. Based on the above, the Order bars Smith from association with any broker or dealer. Smith consented to the issuance of the Order without admitting or denying any of the findings in the Order, except he admitted the entry of the injunction. (Rel. 34-62098; File No. 3-13896) In the Matter of Michael D. NortonOn May 13, 2010, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions (Order) against Michael D. Norton. The Order finds that on May 4, 2010, a final judgment was entered by consent against Norton, a resident of Lakewood, Colorado, permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (Securities Act) and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. CFO-5, LLC, et al., No. 1:08-cv-1594-PAB, in the United States District Court for the District of Colorado. In the Order, the Commission finds that the Commission's complaint alleged that Norton solicited funds from investors representing that the funds would be used to trade in European medium term notes. The complaint further alleged that Norton's representations were false, that the European medium term notes did not exist, and that many of the documents provided to investors contained the indicia of prime bank fraud. The complaint also alleged that Norton sold securities in unregistered transactions, acted as an unregistered broker or dealer in connection with the offer and sale of securities, and engaged in a variety of conduct which operated as a fraud and deceit on investors. Based on the above, the Order bars Norton from association with any broker or dealer. Norton consented to the issuance of the Order without admitting or denying any of the findings in the Order, except he admitted the entry of the injunction. (Rel. 34-62099; File No. 3-13897) In the Matter of Stanley W. AndersonOn May 13, 2010, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions (Order) against Stanley W. Anderson. The Order finds that on May 4, 2010, a final judgment was entered by consent against Anderson, a resident of Arvada, Colorado, permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (Securities Act) and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. CFO-5, LLC, et al., No. 1:08-cv-1594-PAB, in the United States District Court for the District of Colorado. The Order finds that the Commission's complaint alleged that Anderson solicited funds from investors representing that the funds would be used to trade in European medium term notes. The complaint further alleged that Anderson's representations were false, that the European medium term notes did not exist, and that Anderson used investors' funds for unauthorized purposes, including keeping funds for his own use, paying off unrelated loans, making Ponzi-like payments to investors, and satisfying unrelated civil judgments. The complaint also alleged that Anderson sold securities in unregistered transactions, acted as an unregistered broker or dealer in connection with the offer and sale of securities, and engaged in a variety of conduct which operated as a fraud and deceit on investors. Based on the above, the Order bars Anderson from association with any broker or dealer. Anderson consented to the issuance of the Order without admitting or denying any of the findings in the Order, except he admitted the entry of the injunction. (Rel. 34-62100; File No. 3-13898) Securities and Exchange Commission Orders Hearing on Registration Suspension or Revocation Against Five 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 five companies for failure to make required periodic filings with the Commission:
In this Order, the Division of Enforcement (Division) alleges that the five 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. 34-62104; File No. 3-13899) SELF-REGULATORY ORGANIZATIONSImmediate Effectiveness of Proposed Rule ChangesA proposed rule change filed by BATS Exchange relating to fees for use of BATS Exchange (SR-BATS-2010-012) 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 May 17. (Rel. 34-62074) A proposed rule change filed by New York Stock Exchange to amend the Exchange Price List (SR-NYSE-2010-34) 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 May 17. (Rel. 34-62082) Proposed Rule ChangeChicago Board Options Exchange filed a proposed rule change (SR-CBOE-2010-038) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 related to the hybrid matching algorithms. Publication is expected in the Federal Register during the week of May 17. (Rel. 34-62083) SECURITIES ACT REGISTRATIONSRECENT 8K FILINGS
http://www.sec.gov/news/digest/2010/dig051310.htm
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