SEC News Digest (Issue 2010-116; June 23, 2010)

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COMMISSION ANNOUNCEMENTS

Securities and Exchange Commission Suspends Trading in the Securities of Eight Issuers for Failure to Make Required Periodic Filings

The 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 June 23, 2010, and terminating at 11:59 p.m. EDT on July 7, 2010.

SSE Telecom, Inc. (SSET)
Strategic Alliance Group, Inc. (n/k/a CruiseCam International, Inc.) (CCMCD)
Stratesec, Inc. (SFTC)
Superfly Advertising, Inc. (f/k/a Morlex, Inc.) (SPFL)
SVI Media, Inc. (SVIA)
Symons International Group, Inc. (SIGC)
Synergy Renewable Resources, Inc. (SRRIF)
Syntech International, Inc. (n/k/a Avalon Technology Group, Inc.) (AVLN)

The Commission temporarily suspended trading in the securities of these eight 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. 34-62361)

Securities and Exchange Commission Suspends Trading in the Securities of Nine Issuers for Failure to Make Required Periodic Filings

Channel America Television Network, Inc. (CATN)
EquiMed, Inc. (EQMDF)
Kore Holdings, Inc. (KORHQ)
Robotic Vision Systems, Inc. (n/k/a Acuity Cimatrix, Inc.) (RVSIQ)
Security Investments Group, Inc. (SSLN)
Shared Technologies Cellular, Inc. (STCL)
Shimoda Resources Holdings, Inc. (SHRH)
TriStar Holdings, Inc. (f/k/a Silver Star Foods, Inc.) (SSTF)
V-One Corp. (VNECQ)

The Commission temporarily suspended trading in the securities of these nine 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).

RULES AND RELATED MATTERS

Approval and Extension of Temporary Registration as a Clearing Agency

The Commission issued a notice and order soliciting comments and extending the Fixed Income Clearing Corporation's temporary registration as a clearing agency through June 30, 2011. Publication is expected in the Federal Register during the week of June 21. (Rel. 34-62348)

ENFORCEMENT PROCEEDINGS

In the Matter of Julian T. Tzolov

On June 22, 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 Julian T. Tzolov.

The Order finds that From November 2003 until September 2007, Tzolov was a registered representative associated with Credit Suisse Securities (USA) LLC, which is registered with the Commission as a broker dealer and as an investment adviser. The Order finds that on July 22, 2009, Tzolov pled guilty to one count of conspiracy to commit securities fraud in violation of 18 U.S.C. 壯 371, 3551, et seq., and one count of securities fraud in violation of 15 U.S.C. 壯 78j(b), 78ff and 18 U.S.C. 壯 2, 3551 et seq. in the indictment in United States v. Julian Tzolov and Eric Butler, 08 CR 370 (E.D.N.Y.) (JBW). The counts of the indictment to which Tzolov pled guilty alleged, among other things, that Tzolov engaged in a fraudulent scheme which included using certain customers' funds to purchase other types of auction rate securities, instead of the securities that those customers requested; and that they transmitted and caused to be transmitted, wire communications in interstate and foreign commerce in furtherance of the fraudulent scheme.

Based on the above, the Order bars Tzolov from association with any broker, dealer or investment adviser. Tzolov consented to the issuance of the Order without admitting or denying the findings contained in the Order, except with respect to the findings relating to Tzolov's guilty plea. (Rel. 34-62351; IA-3041; File No. 3-13944)

In the Matter of Alyn Corp.

An Administrative Law Judge has issued an Order Making Findings and Revoking Registrations by Default as to Three Respondents (Default Order) in Alyn Corp., Administrative Proceeding No. 3-13881. 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 three Respondents. It revokes the registrations of each class of registered securities of Alyn Corp., American Pallet Leasing, Inc., and Amwest Environmental Group, Inc., pursuant to Section 12(j) of the Securities Exchange Act of 1934.

The proceeding remains ongoing as to Respondents American Holding Investments, Inc., and American Stellar Energy, Inc. (n/k/a Tara Gold Resources Corp.). The Commission previously accepted settlement offers from Respondents American Midland Corp. and American Millennium Corp. (Rel. 34-62360; File No. 3-13881)

Commission Orders Hearings on Registration Suspension or Revocation Against Eight Companies for Failure to Make Required Periodic Filings

In conjunction with today's trading suspension, the Commission also instituted a separate public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of eight companies for failure to make required periodic filings with the Commission:

SSE Telecom, Inc. (SSET)
Strategic Alliance Group, Inc. (CCMCD)
Stratesec, Inc. (SFTC)
Superfly Advertising, Inc. (f/k/a Morlex, Inc.) (SPFL)
SVI Media, Inc. (SVIA)
Symons International Group, Inc. (SIGC)
Synergy Renewable Resources, Inc. (SRRIF)
Syntech International, Inc. (n/k/a Avalon Technology Group, Inc.) (AVLN)

In the Order, the Division of Enforcement (Division) alleges that the Respondents 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 the proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceedings. (Rel. 34-62362; File No. 3-13945)

Commission Orders Hearings on Registration Suspension or Revocation Against Nine Companies for Failure to Make Required Periodic Filings

In 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 nine companies for failure to make required periodic filings with the Commission:

Channel America Television Network, Inc. (CATN)
EquiMed, Inc. (EQMDF)
Kore Holdings, Inc. (KORHQ)
Robotic Vision Systems, Inc. (n/k/a Acuity Cimatrix, Inc.) (RVSIQ)
Security Investments Group, Inc. (SSLN)
Shared Technologies Cellular, Inc. (STCL)
Shimoda Resources Holdings, Inc. (SHRH)
TriStar Holdings, Inc. (f/k/a Silver Star Foods, Inc.) (SSTF)
V-One Corp. (VNECQ)

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 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 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. 34-62364; File No. 3-13946)

Commission Revokes Registration of Securities of Gee Ten Ventures, Inc. for Failure to Make Required Periodic Filings

On June 23, 2010, the Commission revoked the registration of each class of registered securities of GEE TEN Ventures, Inc. (GEEVF) for failure to make required periodic filings with the Commission.

Without admitting or denying the findings in the Order, except as to jurisdiction, which it admitted, GEEVF consented to the entry of an Order Making Findings and Revoking Registration of Securities Pursuant to Section 12(j) of the Securities Exchange Act of 1934 as to GEE TEN Ventures, Inc. finding that it had failed to comply with Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 13a-1 and 13a-16 thereunder and revoking the registration of each class of GEEVF's securities pursuant to Section 12(j) of the Exchange Act. This order settled the charges brought against GEEVF in In the Matter of BVR Technologies Ltd. (n/k/a Technoprises Ltd.), et al., Administrative Proceeding File No. 3-13892.

Brokers and dealers should be alert to the fact that Exchange Act Section 12(j) provides, in pertinent part, as follows:

No member of a national securities exchange, broker, or dealer shall make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce the purchase or sale of, any security the registration of which has been and is suspended or revoked . . . .

For further information see Order Instituting Administrative Proceedings and Notice of Hearing Pursuant to Section 12(j) of the Securities Exchange Act of 1934, In the Matter of BVR Technologies Ltd. (n/k/a Technoprises Ltd.), et al., Administrative Proceeding File No. 3-13892, Exchange Act Release No. 62092 (May 13, 2010). (Rel. 34-62365; File No. 3-13892)

In the Matter of Phillip Windom Offill, Jr., Esq.

The Securities and Exchange Commission announced the issuance of an Order of Forthwith Suspension Pursuant to Rule 102(e)(2) of the Commission's Rules of Practice suspending Phillip Windom Offill, Jr., Esq. from appearing or practicing before the Commission. The Commission's order finds that on April 26, 2010, the United States District Court for the Eastern District of Virginia entered a judgment convicting Offill of conspiracy to commit securities registration violations, securities fraud and wire fraud. Offill, an attorney who has appeared and practiced before the Commission, was found to have knowingly and willfully conspired illegally to sell securities where no registration statement was in effect, and made untrue statements of material fact to investors in connection with the purchase and sale of securities. (Rel. 34-62367; File No. 3-13947)

SEC Charges Advanced Technologies Group, Ltd., Alexander Stelmak and Abelis Raskas with Securities Registration Violations

The Securities and Exchange Commission today filed a civil enforcement action against Advanced Technologies Group, Ltd. (ATG), and its officers Alexander Stelmak and Abelis Raskas. The Commission's complaint alleges that between 1997 and 2006, the defendants raised approximately $14.7 million from investors through a series of illegal unregistered offerings of the securities of ATG and its predecessor companies, Oxford Global Network, Ltd., and Luxury Lounge, Inc. The Commission alleges that, in connection with these offerings, the defendants violated the securities registration requirements of Sections 5(a) and 5(c) of the Securities Act of 1933 (Securities Act). The Commission seeks disgorgement of all ill-gotten gains, plus prejudgment interest thereon. In addition, against ATG and Stelmak, the Commission seeks civil money penalties, as well as permanent injunctions against future violations of Sections 5(a) and 5(c) of the Securities Act and against future participation in any unregistered securities offerings. Against Stelmak, the Commission also seeks a permanent penny stock bar. The Commission also seeks provisional relief in the form of an order freezing the defendants' assets and prohibiting destruction, concealment or alteration of records pending final disposition of the action. [SEC v. Advanced Technologies Group, Ltd., Alexander Stelmak and Abelis Raskas, Civil Action No. 10-CV-4868 (Judge Sullivan) (SDNY)] (LR-21567)

INVESTMENT COMPANY ACT RELEASES

Hercules Technology Growth Capital, Inc.

An order has been issued on an application filed by Hercules Technology Growth Capital, Inc. (Company) under Section 23(c)(3) of the Investment Company Act for an exemption from Section 23(c) of the Act. The order amends prior orders that permit the Company to issue restricted shares of its common stock and to issue stock options to the Company's executive officers, employee directors, and other key employees and non-employee directors under the terms of its employee and director compensation plans (Plans). The amended order permits the Company, pursuant to amended Plans, to engage in certain transactions that may constitute purchases by the Company of its own securities within the meaning of Section 23(c) of the Act. (Rel. IC-29303 - June 22)

SELF-REGULATORY ORGANIZATIONS

Proposed Rule Changes

The Options Clearing Corporation filed a proposed rule change (SR-OCC-2010-09) under Section 19(b)(1) of the Securities Exchange Act of 1934. The proposed rule change would provide that OCC will clear and treat as securities options any option contracts on Sprott Physical Gold Shares that are traded on securities exchanges and clear and treat as security futures any futures contracts on Sprott Physical Gold Shares. Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62329)

International Securities Exchange filed a proposed rule change (SR-ISE-2010-62), as modified by Amendment No. 1, pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 relating to clearly erroneous executions. Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62330)

National Stock Exchange filed a proposed rule change (SR-NSX-2010-07) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to amend Rule 11.19, entitled "Clearly Erroneous Executions." Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62331)

NYSE Amex filed a proposed rule change (SR-NYSEAmex-2010-60) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 amending NYSE Amex Equities Rule 128 relating to clearly erroneous executions. Publication is expected in the Federal RegisterFederal Register during the week of June 28. (Rel. 34-62332)

New York Stock Exchange filed a proposed rule change (SR-NYSE-2010-47) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 amending Rule 128 relating to clearly erroneous executions. Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62333)

The NASDAQ Stock Market filed a proposed rule change (SR-NASDAQ-2010-076), as modified by Amendment No. 1, pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to amend NASDAQ Rule 11890 governing clearly erroneous executions. Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62334)

Chicago Stock Exchange filed a proposed rule change (SR-CHX-2010-13), as modified by Amendment No. 1, pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to amend Article 20, Rule 10 regarding clearly erroneous transactions. Publication is expected in the Federal Register during the week of June 21. (Rel. 34-62336)

The Commission issued notice of a proposed rule change, as modified by Amendment No. 1, submitted by EDGA Exchange (SR-EDGA-2010-03) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934, to amend EDGA Rule 11.13, entitled "Clearly Erroneous Executions." Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62338)

The Commission issued notice of a proposed rule change, as modified by Amendment No. 1, submitted by EDGX Exchange (SR-EDGX-2010-03) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934, to amend EDGX Rule 11.13, entitled "Clearly Erroneous Executions." Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62339)

The Commission issued notice of a proposed rule change submitted by BATS Exchange (SR-BATS-2010-016) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934, to amend BATS Rule 11.17, entitled "Clearly Erroneous Executions." Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62340)

The Commission issued notice of a proposed rule change submitted by Financial Industry Regulatory Authority (SR-FINRA-2010-032) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934, to amend FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange-Listed Securities). Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62341)

NASDAQ OMX BX filed a proposed rule change (SR-BX-2010-040), as modified by Amendments Nos. 1 and 2, pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to amend NASDAQ OMX BX Rule 11890 governing clearly erroneous executions. Publication is expected in the Federal Register during the week of June 28. (Rel. 34-62342)

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change filed by New York Stock Exchange amending Rule 1000 regarding order size eligible for automatic execution (SR-NYSE-2010-44) 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 June 28. (Rel. 34-62356)

A proposed rule change filed by NYSE Amex amending NYSE Amex Equities Rule 1000 regarding order size eligible for automatic execution (SR-NYSEAmex-2010-54) 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 June 28. (Rel. 34-62357)

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