SEC NEWS DIGEST Issue 2005-55 March 23, 2005 COMMISSION ANNOUNCEMENTS COMMISSION MEETINGS Following is a schedule of Commission meetings, which will be conducted under provisions of the Government in the Sunshine Act. Meetings will be scheduled according to the requirements of agenda items under consideration. Open meetings will be held in the William O. Douglas Room, Room 1C30, at the Commission's headquarters building, 450 Fifth Street, N.W., Washington, D.C. Visitors are welcome at all open meetings, insofar as space is available. Persons wishing to photograph or videotape Commission meetings must obtain permission in advance from the Secretary of the Commission. Persons wishing to tape record a Commission meeting should notify the Secretary's office 48 hours in advance of the meeting. Any member of the public who requires auxiliary aids such as a sign language interpreter or material on tape to attend a public meeting should contact Rochelle Franks, Office of Administrative and Personnel Management, to make arrangements. Ms. Franks can be reached at TTY number (202) 942-9558. If you are calling from a non-TTY number, please call the Relay Service at 1-800-877-8339. OPEN MEETING – TUESDAY, MARCH 29, 2005 – 10:00 A.M. The subject matter of the open meeting scheduled for Tuesday, March 29, will be: The Commission will hear oral argument on appeals by Robert W. Armstrong, III and the Division of Enforcement of an initial decision of an administrative law judge. Armstrong was formerly controller of National Medical Care, Inc. (NMC), a subsidiary of W.R. Grace & Co. (Grace). The law judge found that Armstrong participated in a scheme to manipulate Grace’s reported earnings to achieve predetermined targets. The alleged scheme involved improperly recording excess earnings as reserves and later using the excess reserves to bolster earnings, thereby achieving the impression that Grace had steady, consistent growth in income over a period of several years. The law judge found that Armstrong willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Exchange Act Rule 10b-5 and that he was a cause of Grace’s violation of those provisions. The law judge also concluded that, as a result of the scheme to manipulate Grace’s earnings, Grace’s periodic reports during the relevant period included financial statements that were not in accordance with Generally Accepted Accounting Principles (GAAP) and that were materially misleading in violation of the periodic reporting requirements contained in Exchange Act Section 13(a) and Exchange Act Rules 12b-20, 13a-1, and 13a-13. The law judge found that Armstrong was a cause of these violations. The law judge further found that Armstrong violated the recordkeeping requirements of Exchange Act Section 13(b)(5) and Exchange Act Rule 13b2- 1, and was a cause of Grace’s violation of these provisions and of Exchange Act Section 13(b)(2). The law judge imposed a cease-and-desist order against Armstrong. The law judge dismissed the charges brought pursuant to Commission Rule of Practice 102(e). The law judge held that Armstrong had not been appearing or practicing before the Commission, and dismissed the Rule 102(e)(1)(iii) charges on this basis. Armstrong appeals the law judge’s conclusion that he violated and caused Grace's violations of the federal securities laws and the Commission's rules. He also maintains that there is no basis in the public interest for the imposition of a cease-and-desist order. The Division appeals the law judge's dismissal of the Rule 102(e) charges. The Division seeks to deny permanently to Armstrong the privilege of appearing or practicing before the Commission. Among the issues likely to be considered are: 1) whether respondent committed the alleged violations; and 2) if so, whether sanctions should be imposed in the public interest. CLOSED MEETING - TUESDAY, MARCH 29, 2005 – 11:00 A.M. The subject matter of the closed meeting scheduled for Tuesday, March 29, will be: Post-argument discussion. CLOSED MEETING - THURSDAY, MARCH 31, 2005 – 2:00 P.M. The subject matter of the closed meeting scheduled for Thursday, March 31, will be: Formal orders of investigations; Institution and settlement of injunctive actions; and Institution and settlement of administrative proceedings of an enforcement nature. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 942-7070. ENFORCEMENT PROCEEDINGS IN THE MATTER OF DERRICK MCKINNEY AND RICK MALIZIA An Administrative Law Judge has issued an Initial Decision in the matter of Derrick N. McKinney and Rick R. Malizia. On Nov. 5, 2003, the U.S. District Court for the Southern District of Ohio permanently enjoined Respondents Derrick McKinney and Rick Malizia from violating Section 17(a) of the Securities Act of 1933, Sections 10(b), 15(a), and 15(c)(1) of the Securities Exchange Act of 1934 and Rules 10b-5 and 15c1-2 thereunder. The Initial Decision finds that it is in the public interest to bar Derrick McKinney and Rick Malizia from association with any broker or dealer. (Initial Decision No. 278; File No. 3-11506) ORDER DIRECTING DISGORGEMENT FUND DISTRIBUTION IN THE MATTER OF ROBERTSON STEPHENS, INC. The Commission has ordered that payments be made to investors under a plan for distribution of monies that had been placed in a Fair Fund, pursuant to the Sarbanes-Oxley Act of 2002, which the Commission previously had approved In the Matter of Robertson Stephens, Inc. The disgorgement fund includes both the disgorgement and the civil penalty paid by Robertson Stephens in connection with a settlement in which Robertson Stephens also was ordered to cease and desist from violating Sections 15(c) and 17(a) of the Securities Exchange Act of 1934, and Rules 15c1-2(b), 17a-4(b)(4), and 17a-4(j) thereunder. In the underlying proceeding, Robertson Stephens was alleged to have issued materially misleading research reports and failed to maintain and produce promptly to the Commission staff e-mail communications. On Jan. 14, 2004, the Commission issued notice of the proposed Plan. The Commission subsequently approved the Plan on Feb. 23, 2004. The Plan provides that the distribution fund be distributed to claimants: (1) who purchased shares of the Corvis common stock that were sold by RSI, on behalf of three partnerships, during the pre-market trading session on Jan. 24, 2001; and (2) RSI customers who purchased Corvis common stock from RSI during the period from January 16 through Jan. 26, 2001. Under the Plan, claimants will recover based on the difference between the price at which they bought their Corvis stock and the greater of either the price at which they sold their stock or $12. In addition, each claimant will recover interest from the date of purchase through Feb. 28, 2005. (Rel. 34- 51406; File No. 3-11003) IN THE MATTER OF ROBERT KIRK, JR. On March 22, 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 Robert T. Kirk, Jr. The Order finds that Kirk was the president and majority owner of Barron Chase Securities Inc. (Barron Chase) and that Barron Chase served as lead managing underwriter for the June 2000 initial public offering of busybox.com, Inc (busybox). The Commission filed a complaint against Kirk alleging that he and others engaged in fraud in connection with the busybox offering. The Order further finds that on March 21, 2005, a final judgment was entered by consent against Kirk permanently enjoining him from future violations of Section 10(b) of the Securities Exchange Act of 1934 [15 U.S.C. § 78j(b)] and Rule 10b- 5 thereunder [17 C.F.R. § 240.10b-5] and Section 17(a) of the Securities Act of 1933 [15 U.S.C. § 77q(a)], in the civil action entitled SEC v. Thomas T. Prousalis Jr. and Robert T. Kirk Jr., Civil Action Number 04- CV-00081, in the U.S. District Court for the Southern District of New York. Based on the above, the Order bars Kirk from association with any broker or dealer. Kirk consented to the issuance of the Order without admitting or denying any of the findings in the Order, except as to the Commission’s jurisdiction over him and the subject matter of the administrative proceeding, and the findings contained in Section III.2 of the Order. (Rel. 34-51408; File No. 3-11865); [SEC v. Thomas T. Prousalis Jr. and Robert T. Kirk Jr., Civil Action Number 04-CV-00081, USDC, SDNY] (LR-19150) ADMINISTRATIVE PROCEEDINGS AGAINST THREE FLORIDA BROKERS ENJOINED FROM COMMITTING SECURITIES FRAUD AND OTHER VIOLATIONS On March 22, the Commission issued an Order Instituting Administrative Proceedings (Order) pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act) against respondents Michael Kordich (Kordich), Joseph Catapano (Catapano), and Aaron Andrzejewski (Andrzejewski) (collectively, the Respondents). The proceedings were instituted to determine what, if any, remedial sanctions are appropriate against the Respondents. The Division of Enforcement alleges that a final judgment was entered by default against Catapano and Andrzejewsi, and a partial final judgment was entered by consent against Kordich, permanently enjoining them 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 Exchange Act, and Rule 10b-5 thereunder, and barring them from future participation in a penny stock offering, in the civil action entitled Securities and Exchange Commission v. Opsis Technologies Int’l, Inc., et al., Case No. 03-62251-Civ.-Martinez/Klein. In the Commission’s Complaint, the staff alleged that in connection with the unregistered offer and sale of Opsis Technologies International, Inc. (Opsis) securities, the Respondents, while associated with unregistered broker-dealers, made material misrepresentations concerning Opsis and its securities in violation of the antifraud provisions of the securities laws, and that the Respondents violated the registration provisions of Section 5 of the Securities Act and the broker-dealer registration provisions of Section 15(a) of the Exchange Act. A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, and to provide them with an opportunity to respond to the allegations, and to determine what, if any, remedial sanctions are appropriate and in the public interest. The Order requires the administrative law judge to issue an initial decision no later than 210 days from the date of service of this Order, pursuant to the Commission’s Rules of Practice. (Rel. 34-41409; File No. 3-11866) COMMISSION BRINGS ENFORCEMENT ACTION AGAINST CAPITAL ANALYSTS, INC. FOR REVENUE SHARING VIOLATIONS On March 23, the Commission issued an Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933 and Sections 15(b) and 21C of the Securities Exchange Act of 1934 (Order) against Capital Analysts, Inc. (CAI), a registered broker-dealer, in connection with its operation of a revenue sharing program. The Commission simultaneously accepted CAI’s Offer of Settlement (Offer), in which it consented to the entry of the Order without admitting or denying the findings contained therein. The Order finds that, from at least January 1, 2002 through December 31, 2003, CAI sold the funds of mutual fund complexes participating in its revenue sharing program, called the Product Sponsor Tier Program (Tier Program), without fully disclosing to its customers material information about the program. Although CAI had selling agreements with several hundred mutual fund complexes, only 11 to 15 of them participated in the Tier Program each year. CAI charged the participants an annual fee, which increased for each tier: $10,000 for the Bronze Tier; $20,000 for the Silver Tier; $34,000 for the Gold Tier; and $45,000 for the Platinum Tier. In exchange for these fees, CAI provided the participants with certain benefits intended to increase a mutual fund complex’s visibility or “shelf-space” within CAI’s retail network. The benefits, which also increased for each tier, included: agenda space at sales meetings and conference calls; banner ads on CAI’s webpage; and the opportunity to sponsor promotional/informational events for CAI’s registered representatives. However, CAI failed to adequately disclose to its customers information about the amount of these payments and the conflicts of interest the payments created. As a result of these findings and CAI’s Offer, the Order: (i) imposes a censure against CAI; (ii) requires it to cease and desist from committing or causing any violation and any future violation of Section 17(a)(2) of the Securities Act of 1933 and Rule 10b-10 under the Securities Exchange Act of 1934; (iii) requires it to pay a civil penalty of $100,000 and disgorgement of $350,000; and (iv) requires it to comply with certain undertakings, including the retention of an independent consultant to conduct a comprehensive review of its revenue sharing program. (Rels. 33-8556; 34-51414; File No. 3-11867) MUTUAL FUND MANAGER PUTNAM PAYS $40 MILLION FINE TO SETTLE SEC ENFORCEMENT ACTION FIRM CHARGED WITH HAVING FAILED TO ADEQUATELY DISCLOSE CONFLICTS OF INTEREST RELATING TO ITS USE OF MUTUAL FUND BROKERAGE COMMISSIONS TO PAY FOR “SHELF SPACE” AT BROKERAGE FIRMS DISTRIBUTING ITS FUNDS The Commission today announced a settled enforcement action against Putnam Investment Management, LLC (Putnam). Putnam failed to adequately disclose to the Putnam Funds’ Board of Trustees (Putnam Board) and the Putnam Funds’ shareholders (Putnam Shareholders) the conflicts of interests that arose from its arrangements with broker-dealers for increased visibility within the broker-dealers' distribution systems. As part of the settlement, Putnam will pay a penalty of $40 million, which will be distributed to the Putnam Funds. The Commission’s Order finds that from at least Jan. 1, 2000 through Dec. 31, 2003, Putnam directed brokerage commissions on the Putnam Funds’ portfolio transactions to broker-dealers for “shelf space” or heightened visibility within their distribution systems. Putnam Retail Management Limited Partnership (PRM), the Putnam Funds' distributor and an affiliate of Putnam, had entered into arrangements (Preferred Marketing Arrangements) with over 80 broker-dealers whereby the broker- dealers provided services designed to promote the sale of the Putnam Funds. Approximately twenty of those broker-dealers were paid in cash, while over sixty broker-dealers received directed brokerage commissions from the Putnam Funds' portfolio transactions. All of these arrangements were based primarily upon negotiated formulas relating to gross or net fund sales and/or the retention of fund assets. When Putnam directed fund brokerage commissions to broker-dealers in connection with the Preferred Marketing Arrangements, its affiliate, PRM, did not use its own assets to pay for the services obtained under these arrangements. Because the financial results of these entities along with other affiliates were combined within consolidated financial statements, the entire Putnam organization benefited from the use of fund assets to defray such expenses. Putnam did not adequately disclose this potential conflict of interest to the Putnam Board and the Putnam Shareholders. Putnam also did not adequately disclose the potential conflict of interest presented for its Equity Trading group, which was faced with directing trades to specific broker-dealers designated by PRM while at the same time satisfying its best execution obligations. The Commission’s Order finds that Putnam willfully violated Section 206(2) of the Investment Advisers Act of 1940 (Advisers Act) and Section 34(b) of the Investment Company Act of 1940 (Investment Company Act). Section 206(2) prohibits an investment adviser from engaging in any transaction, practice, or course of business that operates as a fraud or deceit upon its client. As a fiduciary, Putnam had a duty to disclose effectively to the Putnam Board any potential conflict of interest created by the use of fund brokerage commissions to satisfy the Preferred Marketing Arrangements. Section 34(b) prohibits any person from making materially misleading statements or omissions in a registration statement. Neither the Putnam Funds’ prospectuses or Statements of Additional Information adequately disclosed that Putnam directed fund brokerage commissions to satisfy the negotiated Preferred Marketing Arrangements. Putnam has agreed to settle this matter, without admitting or denying the findings in the Commission’s Order. The Commission’s Order censures Putnam and orders it to cease-and-desist from committing or causing any violations and any future violations of Section 206(2) of the Advisers Act and Section 34(b) of the Investment Company Act. In addition, Putnam has undertaken to direct a senior level employee to implement and maintain policies and procedures with respect to its Preferred Marketing Arrangements, including, among other things, the selection of broker- dealers that also sell fund shares and its disclosures to the Putnam Board and Putnam Shareholders. Finally, Putnam will make a nominal disgorgement payment and will pay $40 million in civil penalties. Pursuant to the Fair Funds provision of the Sarbanes-Oxley Act of 2002, Putnam will distribute the penalty to the Putnam Funds in accordance with a distribution plan approved by the Commission. (Rels. IA-2370; IC-26788; File No. 3-11868) CITIGROUP PAYS $20 MILLION TO SETTLE SEC ACTION RELATING TO MUTUAL FUND SALES PRACTICES On March 23, the Commission issued an Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act of 1933 and Sections 15(b) and 21C of the Securities Exchange Act of 1934 (Order) against Citigroup Global Markets, Inc. (Citigroup). Citigroup is a registered broker-dealer which offers retail brokerage services under the trade name of Smith Barney. The Commission simultaneously accepted Citigroup’s Offer of Settlement (Offer), in which it consented to the entry of the Order without admitting or denying the findings contained therein. The Order finds that, from at least Jan. 1, 2002, through July 31, 2003, Citigroup failed to disclose adequately certain material facts to its customers in the offer and sale of mutual fund shares. First, Citigroup failed to fully disclose to its customers material information regarding its revenue sharing program, known as the Tier Program. Under the Tier Program, approximately 75 mutual fund complexes made revenue sharing payments to Citigroup in exchange for access to or “shelf space” within Citigroup’s retail brokerage network. In fact, Citigroup offered and sold only the funds of those mutual fund complexes which participated in the Tier Program. Citigroup also provided additional benefits to those mutual fund complexes which made higher revenue sharing payments. These benefits included increased access to branch offices, greater agenda space at sales meetings, and visibility in Citigroup’s in-house publications and broadcasts. This practice created a conflict of interest which Citigroup failed to adequately disclose to its customers. The second disclosure failure related to Citigroup’s sale of Class B shares of mutual funds in amounts aggregating $50,000 or greater. Citigroup recommended and sold Class B shares of mutual funds to certain customers who, depending on the amount of the investment and the holding period, generally would have obtained a higher overall rate of return had they purchased Class A shares instead. These customers could have benefited had they purchased Class A shares because they could have qualified for breakpoints beginning at the $50,000 level. In addition, as a result of the customers’ purchases of Class B shares, Citigroup received greater commissions than it would have earned had it sold Class A shares of the same mutual funds. However, Citigroup’s financial consultants, when recommending and selling Class B shares of mutual fund shares to customers, did not adequately disclose that: (i) such shares were subject to higher annual fees that could have a negative impact on the customers’ investment return, or (ii) once breakpoints become available beginning at the $50,000 level, an equal investment in Class A shares could yield a higher return. The Order also finds that Citigroup willfully violated Section 17(a)(2) of the Securities Act of 1933 (Securities Act) and Rule 10b-10 under the Securities Exchange Act of 1934 (Exchange Act). Further, the Order: (i) imposes a censure against Citigroup; (ii) requires Citigroup to cease and desist from committing or causing any violations and any future violations of Section 17(a) of the Securities Act and Rule 10b-10 under the Exchange Act; (iii) imposes a $20 million civil penalty against Citigroup; and (iv) requires Citigroup to comply with certain undertakings. As part of those undertakings, Citigroup will retain an independent consultant to conduct a review of Citigroup’s mutual fund sales practices. In addition, Citigroup will offer affected customers the option of converting their Class B shares into Class A shares in such a manner that each customer is placed in the same financial position, based on actual fund performance, in which such customer would have been had the customer purchased Class A shares instead of Class B shares. The staff coordinated its investigation with the NASD, which is bringing a separate enforcement action against Citigroup for its sales of Class B shares. (Rels 33-8557; 34-51415; File No. 3-11869) SEC FILES SETTLED FRAUD ACTION AGAINST RECIDIVIST PETER BRANT BRANT AGREES TO PAY PENALTY OF $3 MILLION SEC ALSO SUES RICHARD W. DEBOE FOR SECURITIES FRAUD On March 3, the Commission filed a settled civil injunctive action in the U.S. District Court for the District of Columbia, alleging that Peter N. Brant (Brant) violated a previous Commission order barring him from the securities industry by acting as an investment adviser to six customers of Deutsche Banc Alex Brown, Inc., now known as Deutsche Bank Securities, Inc. (Deutsche Banc). The Complaint alleges that while acting as an investment adviser in violation of the terms of the Commission’s Order, Brant misappropriated client funds for his personal use, made unsuitable and unauthorized investment decisions, and traded in speculative stocks. The Complaint alleges that as a result of his fraud, Brant obtained at least $173,402.80 and caused his clients’ accounts to drop dramatically in value. Brant, without admitting or denying the Commission’s allegations, has agreed to a final judgment: (i) permanently enjoining him from violating Section 17(a) of the Securities Act of 1933 (Securities Act), Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder, and Sections 206(1) and (2) of the Investment Advisers Act (Advisers Act); (ii) ordering him, pursuant to Section 21(e) of the Exchange Act, to comply with the administrative bar order previously entered against him; (iii) ordering him to pay disgorgement of $173,402.80, plus prejudgment interest thereon; and (iv) ordering him to pay a civil penalty of $3 million. Brant has also agreed to a Commission order pursuant to Section 203(f) of the Advisers Act permanently barring him from associating with an investment adviser. [S.E.C. v. Peter N. Brant, Civil Action No. 1:05CV00453 (D.D.C.) (ESH) (March 3, 2005) (LR-19113). In a related action filed in the U.S. District Court for the Southern District of New York, the Commission alleged in its Complaint that Richard W. DeBoe (DeBoe), while employed as a registered representative at Deutsche Banc, engaged in fraudulent conduct in customer accounts and aided and abetted the fraudulent conduct in these same accounts by Brant. According to the Complaint, DeBoe, a former colleague and social friend of Brant, knew of Brant’s conviction for felony securities fraud. Between 1998 and 1999, DeBoe opened four new accounts at Deutsche Banc for customers referred to him by Brant. The Complaint further alleges that each of the customers gave Brant trading authority. According to the Complaint, Brant’s role as investment adviser and his acceptance of fees for these services violated his bar from the securities industry, which was known by DeBoe or he was reckless in not knowing. Finally, the Complaint alleges that once the accounts were opened, DeBoe gave free rein to Brant over the accounts, participated with Brant in churning the accounts, violated explicit instructions from customers, and allowed Brant to misappropriate funds from DeBoe’s customer accounts for Brant’s own use. This fraudulent conduct generated substantial commissions for DeBoe, who before opening these accounts referred by Brant, had been a “low” producer who earned relatively low commission income. The Commission’s Complaint seeks a judgment against DeBoe: (i) permanently enjoining him from violating Section 17(a) of the Securities Act, permanently enjoining him from violating and aiding and abetting violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and from aiding and abetting violations of Sections 206(1) and (2) of the Advisers Act; (ii) ordering him to disgorge all unjust enrichment by reason of the conduct described in the Complaint plus prejudgment interest thereon; and (iii) awarding civil monetary penalties (SEC v. Richard W. DeBoe, Civil Action No. 05 CV 2522, SDNY, AKH, March 3, 2005, LR-19113). (Rel. IA-2371; File No. 3-11870) DEFAULT JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANT ROBERT KINGSTON COYNE The Commission announced that on Feb. 28, 2005, the U.S. District Court for the Middle District of Florida entered a Default Judgment of Permanent Injunction and Other Relief (Judgment) against Defendant Robert Kingston Coyne (Coyne). The Final Judgment, entered upon the SEC’s Motion for Default Judgment against Coyne, enjoins him from violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 thereunder. In addition to injunctive relief, the Judgment orders Coyne to pay disgorgement in the amount of $5,018,148, plus prejudgment interest thereon, and provides for the imposition of a civil penalty to be determined by the Court upon the SEC’s motion. The Judgment also bars Coyne from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act. [SEC v. Viatical Capital, Inc., et al., Civil Action No. 8:03-cv- 01895-SDM-TGW] (LR-19151) FINAL JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANT JOHN NABORS The Commission announced that on Feb.16, 2005, the U.S. District Court for the Middle District of Florida entered a Final Judgment of Permanent Injunction and Other Relief (Final Judgment) against Defendant John Mervyn Nabors (Nabors). The Final Judgment entered with Nabors’ consent, enjoins him from violating Sections 10(b), 13(a), 13b(2) and 13b(5) of the Securities and Exchange Act of 1934 and Rules 10b-5, 12b- 20, 13a-1, 13a-13, 13b-21 and 13b2-2 thereunder. In addition to injunctive relief, the Final Judgment orders Nabors to pay disgorgement in the amount of $200,000, prejudgment interest of $10,200 and the imposition of a civil penalty in the amount of $50,000. The Final Judgment also bars Nabors from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act. [SEC v. John Mervyn Nabors and Eric J. McCracken, Civil Action No. 8:04-cv-2288-T-23MAP] (LR-19152) SELF-REGULATORY ORGANIZATIONS IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGES The Options Clearing Corporation filed a proposed rule change (SR-OCC- 2005-02) under Section 19(b)(3)(A) of the Securities Exchange Act that establishes a money-only settlement service. Publication of the proposal is expected in the Federal Register during the week of March 28. (Rel. 34-51390) A proposed rule change (SR-CBOE-2005-16) filed by the Chicago Board Options Exchange to extend a pilot program permitting an interpretation relating to margin requirements for certain complex option spreads, has become immediately effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication of the proposal is expected in the Federal Register during the week of March 28. (Rel. 34-51407) ACCELERATED APPROVAL OF PROPOSED RULE CHANGES The Commission granted accelerated approval to a proposed rule change (SR-PCX-2005-10) submitted by the Pacific Exchange requiring electronic filing of Form U4 and Form U5 by OTP Holders and OTP Firms through the CRD. Publication of the proposal is expected in the Federal Register during the week of March 28. (Rel. 34-51398) The Commission granted accelerated approval to a proposed rule change (SR-PCX-2005-11) submitted by the Pacific Exchange requiring electronic filing of Form U4 and Form U5 by ETP Holders through the CRD. Publication of the proposal is expected in the Federal Register during the week of March 28. (Rel. 34-51399) WITHDRAWAL SOUGHT A notice has been issued giving interested persons until April 15, 2005, to comment on the application of Hythiam, Inc. to withdraw its common stock, $.0001 par value, from listing and registration on the American Stock Exchange. (Rel. 34-51411) SECURITIES ACT REGISTRATIONS The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . S-8 ICAGEN INC, 4222 EMPEROR BLVD, SUITE 350, DURHAM, NC, 27703, 919-941-5206 - 15,614,572 ($77,112,676.32) Equity, (File 333-123474 - Mar. 22) (BR. 01) SB-2 Avicena Group, Inc., 228 HAMILTON AVENUE, THIRD FLOOR, PALO ALTO, CA, 94301, 415-397-2880 - 0 ($3,000,000.00) Equity, (File 333-123476 - Mar. 22) (BR. 09) S-8 AIR PRODUCTS & CHEMICALS INC /DE/, 7201 HAMILTON BLVD, ALLENTOWN, PA, 18195-1501, 6104814911 - 0 ($178,914,765.66) Equity, (File 333-123477 - Mar. 22) (BR. 06) S-8 GARUDA CAPITAL CORP, 1895 26TH STREET, XXX, VANCOUVER BC CANADA, A1, V7V4K2, 6044820111 - 3,000,000 ($390,000.00) Equity, (File 333-123478 - Mar. 22) (BR. 04) SB-2 Project Romania Inc., 2490 WEST 2ND AVENUE, SUITE 404, VANCOUVER, A1, V6K 1J6, 604.736.5777 - 5,315,000 ($212,600.00) Equity, (File 333-123479 - Mar. 22) (BR. 09) SB-2 CENTURION GOLD HOLDINGS INC, SECOND FLOOR - WEST TOWER SANDTON SQUARE, CORNER MAUDE AND 5 STREET, SANDTON, T3, 2146, 2711881-5563 - 126,220,933 ($40,465,698.36) Equity, (File 333-123481 - Mar. 22) (BR. 04) S-8 BP PLC, 1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, X0, 00000, 442074964000 - 0 ($1,346,675,000.00) Equity, (File 333-123482 - Mar. 22) (BR. 04) S-8 BP PLC, 1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, X0, 00000, 442074964000 - 0 ($430,936,000.00) Equity, (File 333-123483 - Mar. 22) (BR. 04) F-6 TERRANOVA S A, AVENIDA APOQUINDO 3650, PISO 10, LAS CONDES SANTIAGO, F3, 00000, 562-350-6000 - 25,000,000 ($1,250,000.00) ADRs/ADSs, (File 333-123484 - Mar. 22) (BR. 09) S-3 AMERUS GROUP CO/IA, 699 WALNUT STREET, DES MOINES, IA, 50309, 5153623600 - 0 ($6,013,750.00) Equity, (File 333-123486 - Mar. 22) (BR. 01) S-8 Prestige Brands Holdings, Inc., 90 NORTH BROADWAY, IRVINGTON, NY, 10533, (914) 524-6810 - 0 ($87,000,000.00) Equity, (File 333-123487 - Mar. 22) (BR. 01) S-8 PURCHASE POINT MEDIA CORP, 141 FIFTH AVENUE, NEW YORK, NY, 10010, 2125396104 - 250,000 ($20,000.00) Equity, (File 333-123488 - Mar. 22) (BR. 37) S-3 QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE INC, 0 ($18,413,187.00) Equity, (File 333-123490 - Mar. 22) (BR. 05) S-3 Energy Transfer Partners, L.P., 2838 WOODSIDE, -, DALLAS, TX, 75204, 9184927272 - 0 ($205,259,184.40) Equity, (File 333-123491 - Mar. 22) (BR. 02) S-8 FIFTH THIRD BANCORP, 38 FOUNTAIN SQ PLZ, FIFTH THIRD CENTER, CINCINNATI, OH, 45263, 5135795300 - 124,346 ($5,326,982.64) Equity, (File 333-123493 - Mar. 22) (BR. 07) S-3 NORTHERN STATES POWER CO, 414 NICOLLET MALL, MINNEAPOLIS, MN, 55401, 6123305500 - 0 ($1,000,000,000.00) Other, (File 333-123494 - Mar. 22) (BR. 02) S-8 CUTERA INC, 3240 BAYSHORE BOULEVARD, BRISBANE, CA, 94005, 94005 - 767,004 ($14,095,342.08) Equity, (File 333-123495 - Mar. 22) (BR. 36) S-8 MEDIWARE INFORMATION SYSTEMS INC, 11711 WEST 79TH STREET, LENEXA, KS, 66214, 9133071000 - 500,000 ($5,137,500.00) Equity, (File 333-123496 - Mar. 22) (BR. 03) S-3 DAYSTAR TECHNOLOGIES INC, 900 GOLDEN GATE TERRACE, SUITE A, GRASS VALLEY, CA, 95945, 530-271-5557 - 0 ($64,388,380.00) Equity, (File 333-123497 - Mar. 22) (BR. 36) SB-2 Synova Healthcare Group Inc, 1400 N PROVIDENCE RD, BLDG 2 SUITE 2, MEDIA, PA, 19063, 610-565-7080 - 9,342,328 ($31,577,069.00) Equity, (File 333-123498 - Mar. 22) (BR. ) SB-2 ELINEAR INC, 2901 WEST SAM HOUSTON PARKWAY NORTH, SUITE E-300, HOUSTON, TX, 77043, 713-896-0500 - 13,800,000 ($13,524,000.00) Debt Convertible into Equity, (File 333-123499 - Mar. 22) (BR. 03) S-1 INTERCONTINENTALEXCHANGE INC, 2100 RIVEREDGE PARKWAY, SUITE 500, ATLANTA, GA, 30328, 7708574700 - 0 ($115,000,000.00) Equity, (File 333-123500 - Mar. 22) (BR. ) S-8 NETFLIX INC, 970 UNIVERSITY AVENUE, ., LOS GATOS, CA, 95032, 408-317-3700 - 2,666,666 ($24,533,327.20) Equity, (File 333-123501 - Mar. 22) (BR. 05) N-2 Liberty All-Star Mid Cap Fund, ONE FINANCIAL CENTER, BOSTON, MA, 02111, 800-542-3863 - 50,000 ($1,000,000.00) Equity, (File 333-123502 - Mar. 22) (BR. 18) SB-2 MRU HOLDINGS INC, 600 LEXINGTON AVENUE, NEW YORK, NY, 10022, 212-754-0774 - 11,476,955 ($52,270,005.45) Equity, (File 333-123503 - Mar. 22) (BR. 07) S-3 ASBURY AUTOMOTIVE GROUP INC, 622 THIRD AVENUE, 37TH FLOOR, NEW YORK, NY, 10017, 2128852500 - 23,355,445 ($348,229,685.00) Equity, (File 333-123505 - Mar. 22) (BR. 02) RECENT 8K FILINGS Form 8-K is used by companies to file current reports on the following events: 1.01 Entry into a Material Definitive Agreement 1.02 Termination of a Material Definitive Agreement 1.03 Bankruptcy or Receivership 2.01 Completion of Acquisition or Disposition of Assets 2.02 Results of Operations and Financial Condition 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off- Balance Sheet Arrangement of a Registrant 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation under an Off-Balance Sheet Arrangement 2.05 Cost Associated with Exit or Disposal Activities 2.06 Material Impairments 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing 3.02 Unregistered Sales of Equity Securities 3.03 Material Modifications to Rights of Security Holders 4.01 Changes in Registrant’s Certifying Accountant 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review 5.01 Changes in Control of Registrant 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year 5.04 Temporary Suspension of Trading Under Registrant's Employee Benefit Plans 5.05 Amendments to the Registrant’s Code of Ethics, or Waiver of a Provision of the Code of Ethics 7.01 Regulation FD Disclosure 8.01 Other Events 9.01 Financial Statements and Exhibits 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE 8K ITEM NO. NAME OF ISSUER CODE DATE COMMENT ------------------------------------------------------------------------------------------------ 1 800 FLOWERS COM INC DE 1.01,5.02 03/14/05 1ST INDEPENDENCE FINANCIAL GROUP, INC DE 8.01 03/22/05 ADVANCED BIOTHERAPY INC DE 8.01 03/22/05 ADVANCED MEDICAL OPTICS INC DE 1.01 03/17/05 AEP INDUSTRIES INC DE 1.01,2.02,2.04,9.01 03/18/05 AFTERMARKET TECHNOLOGY CORP DE 5.03,9.01 12/02/04 Airbee Wireless, Inc. DE 7.01,9.01 03/20/05 ALCOA INC PA 2.02,9.01 03/17/05 ALICO INC FL 8.01 03/22/05 ALIGN TECHNOLOGY INC DE 1.01,8.01,9.01 03/17/05 ALLIANCE RESOURCE PARTNERS LP DE 1.01,9.01 03/17/05 ALLIED CAPITAL CORP MD 5.02 03/22/05 ALLIED WASTE INDUSTRIES INC DE 8.01 03/21/05 ALMOST FAMILY INC DE 2.02,9.01 03/22/05 ALPENA BANCSHARES INC 8.01,9.01 03/15/05 ALTAIR NANOTECHNOLOGIES INC A6 7.01 03/21/05 AMBIENT CORP /NY DE 5.02,9.01 03/16/05 AMERA LINK INC NV 1.02 03/17/05 AMERICA ONLINE LATIN AMERICA INC DE 2.04,2.06 03/16/05 AMERICA WEST HOLDINGS CORP DE 7.01,9.01 03/21/05 AMERICAN HEALTHCHOICE INC /NY/ NY 1.01,2.01,9.01 03/07/05 AMERICAN INSURED MORTGAGE INVESTORS S CA 8.01,9.01 03/21/05 AMERICAN LOCKER GROUP INC DE 2.04 03/18/05 AMERITRANS CAPITAL CORP DE 2.02,9.01 03/22/05 AMERIVEST PROPERTIES INC MD 8.01 03/21/05 AMIS HOLDINGS INC 8.01,9.01 03/16/05 ANALEX CORP NY 8.01,9.01 03/22/05 ARGONAUT TECHNOLOGIES INC DE 1.01,9.01 03/17/05 ASBURY AUTOMOTIVE GROUP INC DE 1.01,9.01 03/22/05 ASHFORD HOSPITALITY TRUST INC MD 1.01 03/08/05 AMEND ASHLAND INC KY 7.01,9.01 03/22/05 ASHWORTH INC DE 4.01,9.01 03/16/05 ASSOCIATED BANC-CORP WI 1.01 03/21/05 ATLAS AMERICA INC DE 5.02 03/22/05 ATLAS PIPELINE PARTNERS LP DE 5.02 03/22/05 AUXILIUM PHARMACEUTICALS INC 1.01,9.01 03/16/05 AVALON GOLD CORP NV 7.01,8.01 03/22/05 AVALONBAY COMMUNITIES INC MD 1.01,9.01 03/16/05 AVANT IMMUNOTHERAPEUTICS INC DE 1.01,5.02,9.01 03/22/05 AVONDALE CAPITAL I CORP 3.02,8.01 03/22/05 BANC OF AMERICA MORTGAGE SECURITIES I DE 8.01,9.01 03/22/05 BANK OF AMERICA CORP /DE/ DE 8.01,9.01 03/22/05 BAY NATIONAL CORP 5.02 03/22/05 BERKSHIRE INCOME REALTY INC 1.01,9.01 03/16/05 BEVERLY ENTERPRISES INC DE 7.01,9.01 03/22/05 BGF INDUSTRIES INC DE 4.02,7.01 03/22/05 BIOFARM INC NV 5.01 02/28/05 BIOMET INC IN 2.02 03/22/05 BISYS GROUP INC DE 8.01,9.01 03/22/05 BLUE RIDGE PAPER PRODUCTS INC 2.02,9.01 03/22/05 BOOKS A MILLION INC DE 4.02 03/09/05 BORDERS GROUP INC DE 1.01,9.01 03/16/05 BRADLEY PHARMACEUTICALS INC DE 1.01,5.02,5.04,9.01 03/16/05 BRAINSTORM CELL THERAPEUTICS INC 1.01,9.01 03/21/05 BUCKLE INC NE 8.01,9.01 03/22/05 C-CHIP TECHNOLOGIES CORP NV 7.01,9.01 03/22/05 C-CHIP TECHNOLOGIES CORP NV 1.01,2.03,3.02 03/01/05 CAL DIVE INTERNATIONAL INC MN 7.01,9.01 03/22/05 CAMCO FINANCIAL CORP DE 4.01,9.01 12/15/04 AMEND CAPTARIS INC WA 1.01 03/16/05 CARDINAL HEALTH INC OH 5.02 03/16/05 CAREY W P & CO LLC DE 5.02 03/16/05 CAROLINA POWER & LIGHT CO NC 8.01,9.01 03/17/05 CARRINGTON LABORATORIES INC /TX/ TX 2.02,9.01 03/22/05 CARRIZO OIL & GAS INC TX 1.01,9.01 03/21/05 CATALYTICA ENERGY SYSTEMS INC DE 7.01,9.01 03/22/05 CHAMPION PARTS INC IL 1.01,9.01 03/18/05 CHAMPPS ENTERTAINMENT INC DE 2.02,7.01,9.01 03/17/05 CHAMPPS ENTERTAINMENT INC DE 2.02,7.01,9.01 03/17/05 CHARLIE MAC TRUST 2004-2 DE 8.01,9.01 03/22/05 CHARMING SHOPPES INC PA 1.01,9.01 03/18/05 CHATTEM INC TN 1.01 03/16/05 CHICAGO RIVET & MACHINE CO IL 2.02,9.01 03/21/05 CHINDEX INTERNATIONAL INC DE 1.01,9.01 03/21/05 CHITTENDEN CORP /VT/ VT 1.01 03/22/05 CHURCHILL DOWNS INC KY 2.02 03/17/05 CIT FUNDING CO, LLC 8.01,9.01 03/22/05 CLARCOR INC DE 8.01,9.01 03/21/05 CNH CAPITAL RECEIVABLES LLC DE 8.01,9.01 03/16/05 CNL Hotels & Resorts, Inc. MD 8.01 03/22/05 COLE COMPUTER CORP NV 4.01 03/22/05 COLLEGIATE FUNDING SERVICES INC DE 8.01,9.01 03/22/05 COMMERCIAL METALS CO DE 2.02,9.01 03/22/05 COMMUNITY SHORES BANK CORP MI 1.01 08/25/04 COMPUWARE CORP MI 1.01,9.01 03/21/05 CONNETICS CORP DE 3.02 03/17/05 COOPERATIVE BANKSHARES INC NC 1.01,8.01,9.01 03/22/05 CORGENIX MEDICAL CORP/CO NV 4.01 03/22/05 AMEND CORPORATE PROPERTY ASSOCIATES 12 INC MD 5.02 03/16/05 CORPORATE PROPERTY ASSOCIATES 14 INC MD 5.02 03/16/05 CORPORATE PROPERTY ASSOCIATES 15 INC MD 5.02 03/16/05 CORPORATE PROPERTY ASSOCIATES 16 GLOB MD 5.02 03/16/05 CORRECTIONAL PROPERTIES TRUST MD 5.02,9.01 03/17/05 COTHERIX INC 8.01 03/22/05 CRESCENT BANKING CO GA 1.01,9.01 03/17/05 CROMPTON CORP DE 1.01,9.01 03/22/05 CRONOS GROUP N4 2.02,8.01,9.01 03/22/05 CSFB ADJUSTABLE RATE MORTGAGE TRUST 2 DE 8.01,9.01 02/15/05 CWALT INC 8.01,9.01 02/25/05 CWALT INC 8.01,9.01 02/25/05 CWMBS INC DE 8.01,9.01 03/22/05 DARK DYNAMITE, INC NV 3.03,7.01 03/22/05 DELPHI CORP DE 7.01 03/22/05 DELPHI CORP DE 8.01,9.01 03/22/05 DEPOMED INC CA 2.02,9.01 03/16/05 DEUTSCHE RECREATIONAL ASSET FUNDING C NV 8.01,9.01 02/28/05 DEUTSCHE RECREATIONAL ASSET FUNDING C NV 8.01,9.01 02/28/05 Diabetic Treatment Centers of America DE 7.01 03/22/05 DIGITAL ANGEL CORP DE 5.02,9.01 03/22/05 DIME COMMUNITY BANCSHARES INC DE 1.01 03/17/05 DIMON INC VA 8.01,9.01 03/22/05 DIRECTV GROUP INC DE 1.01,5.02 03/22/05 DISTRIBUTION FINANCIAL SERVICES MARIN NY 8.01,9.01 02/28/05 DISTRIBUTION FINANCIAL SERVICES RV MA NV 8.01,9.01 02/28/05 DISTRIBUTION FINANCIAL SERVICES RV TR NY 8.01,9.01 02/28/05 DIVIDEND CAPITAL TRUST INC MD 2.01,9.01 02/02/05 AMEND DOLPHIN PRODUCTIONS INC 8.01 03/21/05 DURAVEST INC FL 4.01,9.01 02/23/05 AMEND ECC Capital CORP 1.01,8.01,9.01 03/16/05 ECOST COM INC DE 1.01 03/21/05 EDUCATION LOANS INC /DE DE 8.01,9.01 03/21/05 EDUCATION LOANS INC /DE DE 8.01,9.01 03/21/05 EDUCATION LOANS INC /DE DE 8.01,9.01 03/21/05 ELECTRONICS BOUTIQUE HOLDINGS CORP DE 1.01,9.01 03/16/05 ELINEAR INC DE 2.02,9.01 03/21/05 EMBREX INC /NC/ NC 1.01,9.01 03/18/05 ENERGEN CORP AL 7.01,9.01 03/22/05 ENERGROUP TECHNOLOGIES CORP UT 8.01 03/17/05 ENERGY & ENGINE TECHNOLOGY CORP NV 1.01,8.01,9.01 03/22/05 Epic Bancorp 8.01,9.01 03/21/05 EQUUS II INC DE 2.02,9.01 03/22/05 ESSENTIAL GROUP INC DE 4.02 03/17/05 EURONET WORLDWIDE INC DE 8.01 03/16/05 FACTSET RESEARCH SYSTEMS INC DE 2.02,9.01 02/28/05 FAIRCHILD SEMICONDUCTOR INTERNATIONAL DE 1.01,1.02 03/16/05 FAMILY DOLLAR STORES INC DE 2.02,4.02,9.01 03/18/05 FIDELITY NATIONAL FINANCIAL INC /DE/ DE 1.01,8.01,9.01 03/09/05 AMEND FIRST UNION COMM MORT TRUST COMM MOR NY 8.01,9.01 03/17/05 FLORIDA PUBLIC UTILITIES CO FL 1.01,2.02 03/01/05 FLOW INTERNATIONAL CORP WA 8.01,9.01 03/22/05 FLYI INC DE 7.01 03/22/05 FREDS INC TN 2.02,4.02,9.01 03/21/05 FRESH CHOICE INC DE 8.01,9.01 03/21/05 FSI INTERNATIONAL INC MN 2.02,9.01 03/22/05 FULTON FINANCIAL CORP PA 8.01,9.01 03/21/05 FX ENERGY INC NV 7.01,9.01 03/22/05 G&K SERVICES INC MN 5.02,9.01 03/22/05 GABLES REALTY LIMITED PARTNERSHIP DE 5.02,9.01 03/18/05 GABLES RESIDENTIAL TRUST MD 5.02,9.01 03/18/05 GAMES INC DE 3.02 03/16/05 GENELABS TECHNOLOGIES INC /CA CA 3.01 03/21/05 GENERAL MILLS INC DE 2.02,8.01,9.01 03/21/05 GENTEK INC DE 5.02,9.01 03/22/05 GEOKINETICS INC DE 1.01 03/04/05 GEOTEC THERMAL GENERATORS INC FL 1.01 03/09/05 GERMAN AMERICAN BANCORP IN 1.01 03/17/05 GIANT INDUSTRIES INC DE 7.01 03/22/04 GILLETTE CO DE 7.01,9.01 03/22/05 GLADSTONE COMMERCIAL CORP MD 1.01,2.03 03/16/05 GLOBAL BUSINESS SERVICES INC DE 1.02,2.01,3.02,5.01,5.02 03/16/05 GLOBAL SIGNAL INC DE 8.01,9.01 03/21/05 GLOWPOINT INC DE 2.02 03/16/05 GMACM MORTGAGE LOAN TRUST 2005-AR1 DE 8.01,9.01 03/16/05 GS Mortgage GSAMP Trust 2004 - AHL DE 8.01 11/26/04 AMEND GS Mortgage GSAMP Trust 2004 - AHL DE 8.01 11/26/04 AMEND GS MORTGAGE SECURITIES CORP DE 8.01 03/18/05 GUARANTY FEDERAL BANCSHARES INC DE 1.01,9.01 03/17/05 H&R BLOCK INC MO 1.01 03/18/05 HANCOCK JOHN LIFE INSURANCE CO MA 8.01,9.01 03/21/05 HANCOCK JOHN LIFE INSURANCE CO MA 8.01,9.01 03/21/05 HANDY HARDWARE WHOLESALE INC TX 1.01,9.01 02/17/05 HASTINGS ENTERTAINMENT INC TX 5.02 03/19/05 HAWAIIAN HOLDINGS INC DE 8.01,9.01 03/18/05 HAYES LEMMERZ INTERNATIONAL INC DE 7.01 03/22/05 HEALTHGATE DATA CORP DE 4.01,9.01 03/16/05 HEALTHSOUTH CORP DE 9.01 03/22/05 HEIDRICK & STRUGGLES INTERNATIONAL IN DE 8.01,9.01 03/22/05 HERITAGE COMMERCE CORP CA 1.01,5.02,9.01 03/17/05 HEWLETT PACKARD CO DE 1.01,9.01 03/17/05 HFC REVOLVING CORP HOUSEHOLD HOME EQ DE 9.01 03/21/05 HFC REVOLVING CORP HOUSEHOLD HOME EQU DE 9.01 03/21/05 HFC REVOLVING CORP HOUSEHOLD HOME EQU DE 9.01 03/21/05 HFC REVOLVING CORP HOUSEHOLD HOME EQU DE 9.01 03/21/05 HOT TOPIC INC /CA/ CA 1.01,2.02,9.01 03/16/05 HOUSEHOLD AUTO RECEIVABLES CORP ASSET NV 9.01 03/17/05 HOUSEHOLD AUTO RECEIVABLES CORP SERIE NV 9.01 03/17/05 HOUSEHOLD AUTOMOTIVE TRUST 2001-1 DE 9.01 03/17/05 HOUSEHOLD AUTOMOTIVE TRUST 2001-3 9.01 03/17/05 HOUSEHOLD AUTOMOTIVE TRUST 2002-1 9.01 03/17/05 HOUSEHOLD AUTOMOTIVE TRUST 2003-1 NV 9.01 03/17/05 HOUSEHOLD AUTOMOTIVE TRUST 2003-2 NV 9.01 03/17/05 Household Automotive Trust 2004-1 NV 9.01 03/17/05 HOUSEHOLD AUTOMOTIVE TRUST SERIES 200 DE 9.01 03/17/05 HOUSEHOLD AUTOMOTIVE TRUST V SERIES 2 DE 9.01 03/17/05 HOUSEHOLD AUTOMOTIVE TRUST VI SERIES NV 9.01 03/17/05 HOUSEHOLD HOME EQUITY LOAN TRUST 2002 DE 9.01 03/21/05 HOUSEHOLD MORTGAGE LOAN TRUST 2002 HC 9.01 03/21/05 HOUSEHOLD MORTGAGE LOAN TRUST 2003-HC DE 9.01 03/21/05 HOUSEHOLD MORTGAGE LOAN TRUST 2003-HC DE 9.01 03/21/05 Household Mortgage Loan Trust 2004-HC DE 9.01 02/22/05 Household Mortgage Loan Trust 2004-HC DE 9.01 03/21/05 HOUSEHOLD REVOLVING HOME EQUITY LOAN DE 9.01 03/21/05 HOUSERAISING, INC. NC 1.02 03/16/05 IASIS Healthcare LLC DE 1.01,9.01 03/21/05 IDACORP INC ID 1.01,2.03,9.01 03/22/05 IHEALTH INC DE 4.01,9.01 03/16/05 IMCOR PHARMACEUTICAL CO NV 8.01,9.01 03/17/05 IMPERIAL INDUSTRIES INC DE 8.01,9.01 03/22/05 INDYMAC MBS INC 8.01,9.01 02/18/05 INFORTE CORP DE 1.01,8.01 03/21/05 INGLES MARKETS INC NC 3.01 03/16/05 INPHONIC INC 2.02,9.01 01/04/05 AMEND INPUT OUTPUT INC DE 8.01 03/16/05 INSIGNIA SOLUTIONS PLC 2.01,9.01 03/16/05 INSITUFORM TECHNOLOGIES INC DE 2.02,7.01,9.01 03/16/05 INTERNATIONAL SMART SOURCING INC DE 3.03 03/16/05 INTERNET INFINITY INC DE 8.01,9.01 03/14/05 INTERSIL CORP/DE DE 5.02,9.01 03/22/05 INVERNESS MEDICAL INNOVATIONS INC DE 2.01,2.03,9.01 03/16/05 IRIDEX CORP DE 1.01,9.01 03/16/05 J C PENNEY CO INC DE 1.01,8.01,9.01 03/18/05 JANUS CAPITAL GROUP INC DE 5.02,9.01 03/21/05 JANUS CAPITAL GROUP INC DE 1.01 03/22/05 JOHNSON CONTROLS INC WI 7.01,9.01 03/22/05 JOHNSON OUTDOORS INC WI 8.01,9.01 03/22/05 JOHNSON OUTDOORS INC WI 8.01,9.01 03/22/05 KB HOME DE 2.02,9.01 03/21/05 KENNAMETAL INC PA 1.01,5.02,9.01 03/22/05 LANTRONIX INC DE 2.03,9.01 03/16/05 Lazy Days R.V. Center, Inc. 5.02 03/18/05 LB-UBS Commercial Mortgage Trust 2005 8.01,9.01 03/17/05 LEADING EDGE EARTH PRODUCTS INC 4.01 08/11/04 AMEND LEESPORT FINANCIAL CORP PA 5.02,9.01 03/16/05 LENNAR CORP /NEW/ DE 2.02,9.01 03/22/05 LOEWS CORP DE 8.01,9.01 03/22/05 LONG BEACH SECURITIES CORP DE 8.01,9.01 03/18/05 LONG ISLAND FINANCIAL CORP DE 4.01,9.01 03/16/05 LYNCH INTERACTIVE CORP DE 8.01 03/22/05 MANATRON INC MI 1.01 03/22/05 MARCUS CORP WI 2.02,9.01 03/22/05 MARISA CHRISTINA INC DE 2.02,9.01 03/21/05 MASCO CORP /DE/ DE 5.02 03/18/05 MASTR Asset Securitization Trust 2004 DE 8.01,9.01 03/22/05 MATRIXX INITIATIVES INC DE 8.01,9.01 03/10/05 MATTEL INC /DE/ DE 7.01,9.01 03/22/05 MAXXAM INC DE 8.01 03/22/05 MC SHIPPING INC 8.01,9.01 03/17/05 MCCORMICK & CO INC MD 2.02 03/22/05 MEDIABAY INC FL 1.01,3.02 03/19/05 MEDICAL STAFFING NETWORK HOLDINGS INC DE 7.01,9.01 03/22/05 MEDICINOVA INC DE 2.02,7.01,9.01 03/21/05 MERRILL LYNCH DEPOSITOR INC PPLUS TRU DE 8.01,9.01 03/15/05 MERRILL LYNCH DEPOSITOR INC PREFERRED DE 8.01,9.01 03/15/05 MERRILL LYNCH DEPOSITOR INC PREFERRED DE 8.01,9.01 03/15/05 MERRILL LYNCH DEPOSITOR INC PREFERRED DE 8.01,9.01 03/15/05 MERRILL LYNCH MORTGAGE INVESTORS, INC DE 8.01,9.01 03/07/05 MESA OFFSHORE TRUST TX 7.01,9.01 03/22/05 MESA ROYALTY TRUST/TX TX 7.01,9.01 03/22/05 MICROTEK MEDICAL HOLDINGS, INC GA 1.01 03/16/05 MOLIRIS CORP FL 3.02 03/11/05 MOLIRIS CORP FL 3.02 03/11/05 AMEND MORTGAGEBROKERS.COM HOLDINGS, INC. DE 1.01,2.01,3.02 03/21/05 MSC INDUSTRIAL DIRECT CO INC NY 8.01,9.01 03/21/05 MSW ENERGY HOLDINGS II LLC 2.02,9.01 03/21/05 MSW ENERGY HOLDINGS LLC DE 2.02,9.01 03/21/05 National Investment Managers Inc. FL 3.03 03/15/05 NATIONAL VISION INC GA 2.02,9.01 03/22/05 NATIONAL VISION INC GA 1.01,9.01 03/21/05 NCT GROUP INC DE 1.01,3.02,9.01 03/14/05 NESS TECHNOLOGIES INC 1.02,5.02,9.01 03/20/05 NET2PHONE INC DE 2.02 03/22/05 NEW BRUNSWICK SCIENTIFIC CO INC NJ 2.02,4.02,9.01 03/21/05 NEWMONT MINING CORP /DE/ DE 8.01,9.01 03/22/05 NEWPORT CORP NV 1.01 02/16/05 NEWS CORP 2.01,9.01 03/21/05 NEXTMEDIA OPERATING INC 5.02 02/15/05 NICOR INC IL 7.01,9.01 03/22/05 NII HOLDINGS INC DE 1.01 02/16/05 NNN 2002 VALUE FUND LLC 7.01,9.01 03/15/05 NOVAVAX INC DE 9.01 03/22/05 OAK RIDGE MICRO-ENERGY INC CO 7.01,9.01 03/22/05 OCG TECHNOLOGY INC DE 1.01,9.01 03/16/05 OHIO CASUALTY CORP OH 8.01,9.01 03/22/05 OHIO CASUALTY CORP OH 8.01,9.01 03/22/05 OMNOVA SOLUTIONS INC OH 2.02,9.01 03/22/05 ONYX PHARMACEUTICALS INC DE 8.01,9.01 03/21/05 ORACLE CORP /DE/ DE 1.01,2.03,5.02 03/17/05 ORACLE CORP /DE/ DE 2.02,9.01 03/22/05 ORION HEALTHCORP INC DE 2.03,3.01,9.01 03/22/05 ORION HEALTHCORP INC DE 9.01 12/15/04 AMEND OSCIENT PHARMACEUTICALS CORP MA 5.02,9.01 03/16/05 OWENS ILLINOIS INC /DE/ DE 5.02 03/18/05 PATHFINDER BANCORP INC DE 8.01 03/22/05 PEOPLES CHOICE HOME LOAN SECURITIES T 8.01,9.01 05/25/04 AMEND PEOPLES CHOICE HOME LOAN SECURITIES T 8.01,9.01 06/25/04 AMEND PEOPLES CHOICE HOME LOAN SECURITIES T 8.01,9.01 07/26/04 AMEND PEPSIAMERICAS INC/IL/ DE 5.02 03/21/05 PERMIAN BASIN ROYALTY TRUST TX 2.02,9.01 03/21/05 PERRIGO CO MI 1.01,2.01,2.03,9.01 03/16/05 PERRY ELLIS INTERNATIONAL INC FL 2.02,9.01 03/22/05 PETRO HOLDINGS FINANCIAL CORP DE 5.02,9.01 03/17/05 PETRO STOPPING CENTERS HOLDINGS LP DE 5.02,9.01 03/17/05 PETRO STOPPING CENTERS L P DE 5.02,9.01 03/17/05 PHELPS DODGE CORP NY 1.01,2.03,9.01 03/18/05 PHOENIX COLOR CORP DE 1.01,2.05,9.01 12/29/04 AMEND PINNACLE SYSTEMS INC CA 1.01,9.01 03/20/05 PIONEER NATURAL RESOURCES CO DE 7.01,9.01 03/17/05 PIONEER NATURAL RESOURCES CO DE 7.01,9.01 03/21/05 PLUMAS BANCORP CA 5.02,9.01 03/21/05 POGO PRODUCING CO DE 8.01,9.01 03/21/05 POPE RESOURCES LTD PARTNERSHIP DE 8.01,9.01 03/22/05 POPULAR ABS, INC. DE 8.01,9.01 03/18/05 POWERHOUSE TECHNOLOGIES GROUP INC DE 4.01,9.01 03/17/05 PPLUS Trust Series JPM-1 DE 8.01,9.01 03/15/05 PREFERREDPLUS TRUST SERIES BLC-2 DE 8.01,9.01 03/15/05 PRIORITY HEALTHCARE CORP IN 1.01,9.01 03/16/05 PROCTER & GAMBLE CO OH 7.01 03/21/05 PROGENICS PHARMACEUTICALS INC DE 2.02,9.01 03/16/05 PROGRESS ENERGY INC NC 1.01,5.02 03/16/05 PROTECTION ONE INC DE 1.01 03/17/05 PROXYMED INC /FT LAUDERDALE/ FL 2.02,9.01 03/21/05 PUBLIC CO MANAGEMENT CORP NV 8.01,9.01 03/18/05 PYR ENERGY CORP DE 7.01 03/22/05 QUANTA CAPITAL HOLDINGS LTD 1.01,5.01,9.01 03/18/05 R F INDUSTRIES LTD NV 8.01 03/22/05 RADIATION THERAPY SERVICES INC FL 1.01,2.03,9.01 03/21/05 Rali Series 2005-QS2 Trust DE 8.01,9.01 03/22/05 RANGE RESOURCES CORP DE 8.01,9.01 03/22/05 REGENERX BIOPHARMACEUTICALS INC DE 8.01,9.01 03/21/05 REMY INTERNATIONAL, INC. DE 1.01,2.01,8.01,9.01 03/16/05 RESIDENTIAL FUNDING MORTGAGE SECURITI DE 8.01,9.01 03/22/05 RINCON RESOURCES, INC. DE 3.02,5.02,9.01 03/21/05 RIVERVIEW BANCORP INC WA 8.01,9.01 03/22/05 ROCK OF AGES CORP DE 1.01,9.01 03/22/05 S&T BANCORP INC PA 8.01 03/21/05 SAN JUAN BASIN ROYALTY TRUST TX 2.02,9.01 03/21/05 SANTARUS INC DE 2.02,9.01 03/22/05 SCO GROUP INC DE 3.01,9.01 03/18/05 SCOLR Pharma, Inc. DE 2.02,9.01 03/22/05 SCOTIA PACIFIC CO LLC DE 8.01 03/22/05 SEAGATE TECHNOLOGY E9 1.01 03/16/05 SECURITY INTELLIGENCE TECHNOLOGIES IN FL 1.01,5.03,9.01 03/20/05 SHELLS SEAFOOD RESTAURANTS INC DE 8.01,9.01 03/22/05 SI INTERNATIONAL INC DE 1.01,9.01 03/18/05 SIRNA THERAPEUTICS INC CO 5.02,9.01 03/17/05 SLADES FERRY BANCORP MA 8.01,9.01 03/18/05 SMART & FINAL INC/DE DE 1.01 03/17/05 SOUTHWEST GAS CORP CA 8.01 03/21/05 SPHERION CORP DE 1.01,5.02,9.01 03/21/05 STANDARD COMMERCIAL CORP NC 8.01,9.01 03/22/05 STARTECH ENVIRONMENTAL CORP CO 1.01,9.01 03/21/05 STATE FINANCIAL SERVICES CORP WI 1.01,3.03,9.01 03/22/05 STEEL TECHNOLOGIES INC KY 7.01,9.01 03/22/05 STEEL TECHNOLOGIES INC KY 8.01,9.01 03/22/05 STEELCASE INC MI 1.01,9.01 03/22/05 STEIN MART INC FL 2.02 03/17/05 STONE ENERGY CORP DE 1.01 03/16/05 SUNRISE SENIOR LIVING INC DE 7.01 03/22/05 SUNSET FINANCIAL RESOURCES INC 2.02,9.01 03/11/05 SYPRIS SOLUTIONS INC DE 5.02,9.01 03/21/05 TAMARACK VENTURES INC NV 1.01,2.01,3.02,4.01,5.01,5.02 03/16/05 TARGET RECEIVABLES CORP MN 8.01,9.01 03/22/05 TCC EQUIPMENT INCOME FUND CA 1.01,8.01,9.01 03/22/05 TELEWEST GLOBAL INC 2.02,9.01 03/22/05 TEMPUR PEDIC INTERNATIONAL INC DE 7.01,9.01 03/16/05 TENET HEALTHCARE CORP NV 1.01 03/16/05 TERADYNE INC MA 5.02 03/18/05 TEXTAINER EQUIPMENT INCOME FUND II L CA 1.01,8.01,9.01 03/22/05 TEXTAINER EQUIPMENT INCOME FUND III L CA 1.01,8.01,9.01 03/22/05 TEXTAINER EQUIPMENT INCOME FUND IV L CA 1.01,8.01,9.01 03/22/05 TEXTAINER EQUIPMENT INCOME FUND V LP CA 1.01,8.01,9.01 03/22/05 TEXTAINER EQUIPMENT INCOME FUND VI LP CA 1.01,8.01,9.01 03/22/05 TIME WARNER INC DE 8.01,9.01 03/21/05 TORVEC INC NY 9.01 03/16/05 TOYS R US INC DE 1.01,8.01,9.01 03/22/05 TRANS INDUSTRIES INC DE 5.02 03/16/05 TRW AUTOMOTIVE HOLDINGS CORP DE 8.01,9.01 03/21/05 TVIA INC DE 1.01,5.02,9.01 03/17/05 U S ENERGY SYSTEMS INC DE 3.01 03/22/05 UNION BANKSHARES CO/ME ME 1.02,5.02,8.01,9.01 03/16/05 UNION PACIFIC CORP UT 7.01,9.01 03/22/05 UNION PACIFIC RAILROAD CO/DE DE 7.01,9.01 03/22/05 UNITED AMERICAN HEALTHCARE CORP MI 8.01 03/14/05 UNITED COMMUNITY FINANCIAL CORP OH 5.02,9.01 03/16/05 UNITED DOMINION REALTY TRUST INC MD 1.01,5.03,9.01 03/17/05 UNITED PARCEL SERVICE INC DE 5.02 03/17/05 UNIVERSAL CITY DEVELOPMENT PARTNERS L 7.01 03/22/05 UNIVERSAL HOSPITAL SERVICES INC MN 2.02,7.01,9.01 03/21/05 US CAN CORP DE 5.02 03/22/05 USA TECHNOLOGIES INC PA 7.01 03/17/05 VAALCO ENERGY INC /DE/ DE 1.02,5.01,5.02 03/17/05 VALENCE TECHNOLOGY INC DE 8.01,9.01 03/22/05 VERDISYS INC CA 8.01,9.01 03/22/05 VERISIGN INC/CA DE 5.02,9.01 03/21/05 VIEWPOINT CORP DE 2.01,9.01 01/03/05 AMEND VINTAGE PETROLEUM INC DE 1.01,8.01,9.01 03/16/05 VIROLOGIC INC DE 1.01,3.02 03/16/05 VISX INC DE 1.01,9.01 03/17/05 VULCAN INTERNATIONAL CORP DE 8.01 03/21/05 Wachovia Bank Commercial Mortgage Tru NC 8.01,9.01 03/17/05 Wachovia Bank Commercial Mortgage Tru NC 8.01,9.01 03/17/05 WACHOVIA COMM MORT SEC INC PASS THR C NC 8.01,9.01 03/17/05 WALTER INDUSTRIES INC /NEW/ DE 5.02 03/17/05 WASHINGTON MUTUAL INC WA 9.01 03/15/05 WASHINGTON MUTUAL MORTGAGE SECURITIES DE 9.01 03/21/05 WASHINGTON MUTUAL MORTGAGE SECURITIES DE 9.01 03/21/05 WASHINGTON MUTUAL MORTGAGE SECURITIES DE 9.01 03/18/05 WASHINGTON TRUST BANCORP INC RI 1.01,9.01 03/22/05 WASTE CONNECTIONS INC/DE DE 4.01,9.01 03/16/05 WATTS WATER TECHNOLOGIES INC DE 1.01,9.01 03/21/05 WEBMD CORP /NEW/ DE 5.04,9.01 03/22/05 WELLS FARGO ASSET SECURITIES CORP DE 8.01,9.01 03/21/05 WESTAFF INC DE 1.01,5.02,9.01 03/16/05 WESTERN MEDIA GROUP CORP MN 4.01 03/21/05 WHITTIER ENERGY CORP NV 7.01 03/21/05 WHOLE FOODS MARKET INC TX 5.03,9.01 03/21/05 WILLIAMS SONOMA INC CA 1.01,2.02,7.01,9.01 03/16/05 WINTRUST FINANCIAL CORP IL 1.01 03/17/05 WIZZARD SOFTWARE CORP /CO CO 1.01 03/18/05 WORLD FINANCIAL NETWORK CREDIT CARD M DE 8.01,9.01 03/15/05 WORONOCO BANCORP INC DE 8.01 03/22/05 XEROX CORP NY 8.01 03/18/05 XLR MEDICAL CORP. NV 7.01,9.01 03/16/05 YUM BRANDS INC NC 1.01,5.02,9.01 03/17/05 ZIMMER HOLDINGS INC DE 5.02,9.01 03/18/05 ZONES INC WA 5.03,8.01,9.01 03/22/05 ZOOM TECHNOLOGIES INC DE 1.01,2.03,9.01 03/16/05