SEC News Digest

ENFORCEMENT PROCEEDINGS

Securities and Exchange Commission Orders Hearing on Registration Revocation Against Six Public Companies for Failure to Make Required Periodic Filings

On Jan. 24, 2011, 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 six companies for failure to make required periodic filings with the Commission:

• Canadian Mono Mines, Inc.
• Carlin Resources Corp. (n/k/a Carlin Gold Corp.) (CNGDF)
• CBX Ventures, Inc. (n/k/a Remstar Resources, Ltd.) (REMJF)
• Chase Resource Corp.
• Chell Group Corp. (CHEL)
• Chic By H.I.S. Inc. (n/k/a Durango Apparel, Inc.)

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 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. 34-63759; File No. 3-14203)

INVESTMENT COMPANY ACT RELEASES

MetLife Insurance Company of Connecticut, et al.

An order has been issued pursuant to Sections 26(c) and 17(b) of the Investment Company Act on an application filed by MetLife Insurance Company of Connecticut, et al. (Applicants). The order permits the Applicants to substitute shares of certain registered management investment companies for shares of certain other registered management investment companies. The order also exempts them from Section 17(a) of the Act to the extent necessary to permit certain in-kind transactions in connection with the substitutions. (Rel. IC-29570 - January 24)

iShares Trust, et al.

An order has been issued on an application filed by iShares Trust, et al. to permit: (a) series of certain open-end management investment companies to issue shares (Shares) redeemable in large aggregations only (Creation Units); (b) secondary market transactions in Shares to occur at negotiated market prices; (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days after the tender of Shares for redemption; and (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of Creation Units. (Rel. IC-29571 - January 24)

SELF-REGULATORY ORGANIZATIONS

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change filed by the NYSE Amex to amend the criteria for listing special purpose acquisition companies (SPACs) to provide an option to hold a tender offer in lieu of a shareholder vote on a proposed acquisition (SR-NYSEAmex-2011-04) 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 January 31. (Rel. 34-63752)

The Chicago Board Options Exchange filed a proposed rule change under Rule 19b-4 (SR-CBOE-2011-005) related to short sell order handling. Publication is expected in the Federal Register during the week of January 31. (Rel. 34-63763)

A proposed rule change filed by NASDAQ OMX BX (SR-BX-2011-003) extending the pilot period to receive inbound routes of orders from Nasdaq Execution Services 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 January 31. (Rel. 34-63769)

Proposed Rule Changes

The International Securities Exchange filed a proposed rule change (SR-ISE-2011-05) related to the purchase of equity interests by International Securities Exchange Holdings, Inc. in Ballista Holdings LLC pursuant to Rule 19b-4 under the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of January 31. (Rel. 34-63758)

The International Securities Exchange filed a proposed rule change (SR-ISE-2011-04) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder to establish a new class of market participant for index options. Publication is expected in the Federal Register during the week of January 31. (Rel. 34-63761)

BATS Exchange filed a proposed rule change under Rule 19b-4 (SR-BATS-2011-002) to amend BATS rules in connection with the implementation of amendments to Regulation SHO. Publication is expected in the Federal Register during the week of January 31. (Rel. 34-63766)

BATS Y-Exchange filed a proposed rule change under Rule 19b-4 (SR-BYX-2011-002) to amend BYX rules in connection with the implementation of amendments to Regulation SHO. Publication is expected in the Federal Register during the week of January 31. (Rel. 34-63767)

Approval of Proposed Rule Changes

The Commission approved a proposed rule change filed by the Chicago Board Options Exchange (SR-CBOE-2010-109) to amend Rule 4.20, Anti-Money Laundering Compliance Program, to require that Trading Permit Holders and TPH organizations perform testing of their anti-money laundering programs during the first year of operation. Publication is expected in the Federal Register during the week of January 31. (Rel. 34-63762)

The Commission approved a proposed rule change filed by the Municipal Securities Rulemaking Board (SR-MSRB-2010-17) under Section 19(b)(2) of the Securities Exchange Act of 1934, consisting of amendments to Rule A-3, on Membership on the Board. Publication is expected in the Federal Register during the week of January 31. (Rel. 34-63764)

SECURITIES ACT REGISTRATIONS

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RECENT 8K FILINGS

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http://www.sec.gov/news/digest/2011/dig012611.htm