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COMMISSION ANNOUNCEMENTSSecurities and Exchange Commission Suspends Trading in the Securities of Six 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 Aug. 12, 2010, through 11:59 p.m. EDT on Aug. 25, 2010.
The Commission temporarily suspended trading in the securities of these six 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. 34-62697) SEC Announces $22.4 Million Distribution of BISYS Fund Services Fair FundThe Securities and Exchange Commission today announced a Fair Fund distribution of approximately $22.4 million to eligible mutual funds that were harmed by the actions of BISYS Fund Services, Inc., a mutual fund administrator. The distribution was made directly to eligible mutual funds, increasing their total assets. In the SEC enforcement action against BISYS in September 2006, the Commission found that from July 1999 to June 2004, BISYS entered into undisclosed side agreements with 27 mutual fund advisers obligating it to rebate a portion of its administration fee to the funds' advisers so that the fund advisers would continue to recommend BISYS as an administrator to the fund board of trustees. Through these side agreements, the advisers used fund assets to pay for marketing expenses incurred by the advisers to promote the funds. If the fund advisers had not improperly used fund assets to subsidize these expenses, the fund advisers would have had to pay the expenses using their own assets. The Fair Fund was created after BISYS agreed to settle the SEC charges and pay $21.4 million (disgorgement of $9.7 million in ill-gotten gains, prejudgment interest of $1.7 million, and a $10 million penalty). The Fund Administrator responsible for this distribution is Rust Consulting, Inc. Questions regarding the distribution may be directed to Rust Consulting by calling (877) 477-0958. ENFORCEMENT PROCEEDINGSIn the Matter of Alyn Corp.An Administrative Law Judge has issued an Order Making Findings and Revoking Registration by Default as to Respondent American Holding Investments, Inc. (Default Order), in Alyn Corp., Administrative Proceeding No. 3-13881. The Order Instituting Proceedings alleged that seven Respondents 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 Respondent American Holding Investments, Inc. It revokes the registration of each class of registered securities of American Holding Investments, Inc., pursuant to Section 12(j) of the Securities Exchange Act of 1934. The proceeding remains ongoing as to Respondent 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. Respondents Alyn Corp., American Pallet Leasing, Inc., and Amwest Environmental Group, Inc., have previously been held in default. (Rel. 34-62696; File No. 3-13881) Commission Orders Hearings on Registration Suspension or Revocation Against Six 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 six companies for failure to make required periodic filings with the Commission:
In this Order, the Division of Enforcement (Division) alleges that the six 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. 34-62698; File No. 3-14005) In the Matter of PanWorld Minerals International, Inc.On Aug.12, 2010, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 12(j) of the Securities Exchange Act of 1934 and Notice of Hearing against PanWorld Minerals International, Inc. (PanWorld) to determine whether the registration of each class of its securities should be revoked or suspended for a period not exceeding twelve months based on its failure to file required periodic reports. The Division of Enforcement (Division) alleges that PanWorld has failed to comply with Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 13a-1 and 13a-13 thereunder by failing to file periodic reports required by those laws. A hearing will be scheduled before an Administrative Law Judge to provide PanWorld an opportunity to respond to the allegations of the Division contained in the Order Instituting Proceedings, to determine whether these allegations are true, and to determine whether PanWorld's registration should be suspended for a period not exceeding twelve months, or revoked, pursuant to Section 12(j) of the Exchange Act. As directed by the Commission, the administrative law judge shall issue an initial decision in this matter not later than 120 days from the date of service of the Order Instituting Proceedings. (Rel. 34-62701; File No. 3-14006) INVESTMENT COMPANY ACT RELEASESFederated Enhanced Treasury Income Fund, et al.An order has been issued on an application filed by Federated Enhanced Treasury Income 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 permits certain registered closed-end management investment companies to make periodic distributions of long-term capital gains with respect to their outstanding common stock as frequently as monthly in any taxable year, and as frequently as distributions are specified by or in accordance with the terms of such investment companies' preferred stock. (Rel. IC-29379 - August 10) SELF-REGULATORY ORGANIZATIONSImmediate Effectiveness of Proposed Rule ChangesA proposed rule change filed by International Securities Exchange (SR-ISE-2010-82) relating to fees and rebates for adding and removing liquidity 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 August 16. (Rel. 34-62665) The Commission issued notice of filing and immediate effectiveness of proposed rule change (SR-NYSEAmex-2010-77) filed by NYSE Amex pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 amending Rule 995NY. Publication is expected in the Federal Register during the week of August 16. (Rel. 34-62667) A proposed rule change (SR-NYSEAMEX-2010-82) filed by NYSE Amex to clarify use of the last sale on NYSE Amex as the reference price and to define the reference price of a security in the event that there is no last sale in that security on NYSE Amex 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 August 16. (Rel. 34-62668) A proposed rule change (SR-NYSE-2010-57) filed by New York Stock Exchange to clarify use of the last sale on NYSE as the reference price and to define the reference price of a security in the event that there is no last sale in that security on NYSE 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 August 16. (Rel. 34-62669) A proposed rule change filed by NYSE Amex (SR-NYSEAmex-2010-81) 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 August 16. (Rel. 34-62671) The Options Clearing Corporation filed a proposed rule change (SR-OCC-2010-11) under Section 19(b)(1) of the Exchange Act to Modify the Definition of the Term Representative. The rule change became effective upon filing. Publication is expected in the Federal Register during the week of August 16. (Rel. 34-62684) The Options Clearing Corporation filed a proposed rule change (SR-OCC-2010-12) under Section 19(b)(1) of the Exchange Act to Modify the Definition of Government Securities to Exclude Separate Trading of Registered Interest and Principal Securities on Treasury Inflation Protected Securities, commonly known as TIP-STRIPS. The rule change became effective upon filing. Publication is expected in the Federal Register during the week of August 16. (Rel. 34-62685) The Depository Trust Company filed a proposed rule change (SR-DTC-2010-10) under Section 19(b)(1) of the Exchange Act to promote efficiencies within the Legal Notice System. The rule change became effective upon filing. Publication is expected in the Federal Register during the week of August 16. (Rel. 34-62686) Approval of Proposed Rule ChangeThe Commission granted approval of a proposed rule change submitted by NYSE Arca (SR-NYSEArca-2010-56), pursuant to Rule 19b-4 under the Securities Exchange Act of 1934, to list and trade shares of the ETFS Precious Metals Basket Trust. Publication is expected in the Federal Register during the week of August 16. (Rel. 34-62692) SECURITIES ACT REGISTRATIONSRECENT 8K FILINGS
http://www.sec.gov/news/digest/2010/dig081210.htm
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