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ENFORCEMENT PROCEEDINGSCommission Revokes Registration of Securities of Aquest Minerals Corp. (n/k/a Anderson Energy Ltd.) for Failure to Make Required Periodic FilingsOn December 8, the Commission revoked the registration of each class of registered securities of Aquest Minerals Corp. (n/k/a Anderson Energy Ltd.) (Anderson Energy) 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, Anderson Energy 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 Anderson Energy 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 Anderson Energy's securities pursuant to Section 12(j) of the Exchange Act. This order settled the proceedings brought against Anderson Energy in In the Matter of Andain, Inc., et al., Administrative Proceeding File No. 3-14087. 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 Andain, Inc., et al., Administrative Proceeding File No. 3-14087, Exchange Act Release No. 63062, Oct.7, 2010. (Rel. 34-63457; File No. 3-14087) Commission Revokes Registration of Securities of Aztek Technologies, Inc. (n/k/a Aztek Resource Development, Inc.) for Failure to Make Required Periodic FilingsOn December 8, the Commission revoked the registration of each class of registered securities of Aztek Technologies, Inc. (n/k/a Aztek Resource Development, Inc.) (Aztek Resource) 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, Aztek Resource 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 Aztek Resource 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-13 thereunder and revoking the registration of each class of Aztek Resource's securities pursuant to Section 12(j) of the Exchange Act. This order settled the proceedings brought against Aztek Resource in In the Matter of Andain, Inc., et al., Administrative Proceeding File No. 3-14087. 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 Andain, Inc., et al., Administrative Proceeding File No. 3-14087, Exchange Act Release No. 63062, Oct. 7, 2010. (Rel. 34-63458; File No. 3-14087) Delinquent Filers' Stock Registrations RevokedThe registrations of the registered securities of SpeedNet, Inc., Springfield Acquisitions Corp., Stemcell Global Research, Inc., and System Software Associates, Inc., have been revoked. Each had repeatedly failed to file required annual and quarterly reports with the Securities and Exchange Commission. Thus, each violated a crucial provision of the federal securities laws that requires public corporations to publicly disclose current, accurate financial information so that investors may make informed decisions. The revocations were ordered in an administrative proceeding before an administrative law judge. (Rel. 34-63459; File No. 3-14136) In the Matter of Gartmore Investment LimitedOn December 8, the Commission issued an Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934 and Section 203(e) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (Order) against Gartmore Investment Limited (Gartmore). The Order finds that Gartmore, a London-based registered investment adviser and manager of investment funds, violated Rule 105 of Exchange Act Regulation M (Rule 105), which prohibits buying shares of an equity security through a public offering after having sold short the same equity security during a restricted period (generally defined as five business days before the pricing of the offering). The Order finds that Gartmore willfully violated Rule 105 on one occasion in 2009. In May 2009, a fund managed by Gartmore bought stock through a public offering after the same fund had sold the same stock short. The Commission further found that, at the time of the violation, Gartmore had no policies, procedures or controls in place designed to detect or prevent Rule 105 violations. Based on the above, the Order censures Gartmore and requires the firm to cease and desist from committing or causing any violations and any future violations of Rule 105. Gartmore will pay a $375,000 civil monetary penalty, $928,117.83 in disgorgement and $44,134.68 in prejudgment interest. Gartmore consented to the issuance of the Order without admitting or denying any of the findings contained therein. (Rel. 34-63460; IA-3121; File No. 3-14154) In the Matter of Paul R. BeckwithOn December 8, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions (Order) against Paul R. Beckwith. The Order finds that on October 14, 2010 a Final Judgment was entered by consent against Beckwith, permanently enjoining him from future violations of Section 13(b)(5) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 13b2-1 thereunder, and from aiding and abetting future violations of Section 13(b)(2)(A) of the Exchange Act, thereunder, in the civil action entitled Securities and Exchange Commission v. Paul R. Beckwith, Civil Action Number 1:10-CV-00162, in the United States District Court for the District of Utah. Based on the above, the Order suspends Paul R. Beckwith from appearing or practicing before the Commission as an accountant. Paul R. Beckwith consented to the issuance of the Order without admitting or denying the findings in the Order, except he admitted the entry of the injunction. (Rel. 34-63473; AAE Rel. 3216; File No. 3-14155) Securities and Exchange Commission Orders Hearing on Registration Suspension or Revocation Against Eleven Public Companies for Failure to Make Required Periodic FilingsOn December 8, 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 eleven companies for failure to make required periodic filings with the Commission:
In this Order, the Division of Enforcement (Division) alleges that the eleven 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 or 13a-16 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. 34-63474; File No. 3-14156) SELF-REGULATORY ORGANIZATIONSImmediate Effectiveness of Proposed Rule ChangesA proposed rule change (SR-Phlx-2010-166) filed by NASDAQ OMX PHLX relating to the Options Regulatory Fee 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 December 13. (Rel. 34-63436) A proposed rule change filed by NYSE Arca amending NYSE Arca Equities Rules 7.31(k) and 7.23(a)(1) to modify certain characteristics of the Q Order and clarify the interest eligible for satisfaction of a market maker's two-sided obligation (SR-NYSEArca-2010-112) 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 December 13. (Rel. 34-63440) A proposed rule change filed by the NASDAQ Stock Market relating to fees for direct access to exchange data (SR-NASDAQ-2010-152) 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 December 13. (Rel. 34-63441) A proposed rule change filed by NASDAQ OMX BX to relating to fees for direct access to exchange data (SR-BX-2010-081) 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 December 13. (Rel. 34-63442) A proposed rule change filed by NASDAQ OMX PHLX relating to fees for direct access to exchange data (SR-Phlx-2010-170) 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 December 13. (Rel. 34-63443) A proposed rule change filed by NYSE Amex (SR-NYSEAmex-2010-111) extending the operative date of NYSE Amex Equities Rule 92(c)(3) from December 31, 2010 to August 1, 2011 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 December 13. (Rel. 34-63454) A proposed rule change filed by New York Stock Exchange (SR-NYSE-2010-76) extending the operative date of NYSE Rule 92(c)(3) from December 31, 2010 to August 1, 2011 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 December 13. (Rel. 34-63455) Proposed Rule ChangesNew York Stock Exchange filed a proposed rule change (SR-NYSE-2010-74) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to establish a twelve-month pilot program to create a bond trading license for member organizations that desire to trade only debt securities on the Exchange and establish a new class of NYSE market participants, "Bonds Liquidity Providers." Publication is expected in the Federal Register during the week of December 13. (Rel. 34-63444) NYSE Arca filed a proposed rule change (SR-NYSEArca-2010-107) under Section 19(b)(1) of the Securities Exchange Act of 1934 relating to the listing and trading of AdvisorShares Active Bear ETF under NYSE Arca Equities Rule 8.600. Publication is expected in the Federal Register during the week of December 13. (Rel. 34-63447) Institution of Proceedings to Determine Whether to Disapprove Proposed Rule ChangeThe Commission instituted proceedings to determine whether to disapprove a proposed rule change, as modified by Amendment No. 1 (SR-BX-2010-059), submitted by NASDAQ OMX BX pursuant to Rule 19b-4 under the Securities Exchange Act of 1934, to create a listing market on the exchange. Publication is expected in the Federal Register during the week of December 13. (Rel. 34-63448) SECURITIES ACT REGISTRATIONSRECENT 8K FILINGS
http://www.sec.gov/news/digest/2010/dig120810.htm
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