In the Matter of Smart Ventures, Inc.; Order of Suspension of Trading, 41538 [2015-17445]

Download as PDF 41538 Federal Register / Vol. 80, No. 135 / Wednesday, July 15, 2015 / Notices inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–BYX– 2015–30, and should be submitted on or before August 5, 2015. SECURITIES AND EXCHANGE COMMISSION For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.33 Brent J. Fields, Secretary. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on July 8, 2015, NASDAQ OMX PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. [FR Doc. 2015–17295 Filed 7–14–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Smart Ventures, Inc.; Order of Suspension of Trading mstockstill on DSK4VPTVN1PROD with NOTICES July 13, 2015. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Smart Ventures, Inc. (‘‘Smart Ventures’’) because of questions regarding the accuracy and completeness of assertions by Smart Ventures in reports posted on the OTC Link operated by OTC Markets Group, Inc. and in press releases. This includes questions about the accuracy of a report issued by Smart Ventures for the quarterly period ended March 31, 2015 and a press release issued on June 30, 2015 with respect to the company’s business plans and activities, control persons, related party transactions and financial statements. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above-listed company is suspended for the period from 9:30 a.m. EDT, on July 13, 2015 through 11:59 p.m. EDT, on July 24, 2015. By the Commission. Jill M. Peterson, Assistant Secretary. CFR 200.30–3(a)(12). 18:52 Jul 14, 2015 July 9, 2015. I. Self-Regulatory Organization’s Statement of the Terms of the Substance of the Proposed Rule Change The Exchange proposes to extend for another twelve (12) month time period the pilot program to eliminate position limits for options on the SPDR® S&P 500® exchange-traded fund (‘‘SPY ETF’’ or ‘‘SPY’’),3 which list and trade under the symbol SPY (‘‘SPY Pilot Program’’). The text of the proposed rule change is available on the Exchange’s Web site at https:// nasdaqomxphlx.cchwallstreet.com/, at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. U.S.C. 78s(b)(1). CFR 240.19b–4. 3 ‘‘SPDR®,’’ ‘‘Standard & Poor’s®,’’ ‘‘S&P®,’’ ‘‘S&P 500®,’’ and ‘‘Standard & Poor’s 500’’ are registered trademarks of Standard & Poor’s Financial Services LLC. The SPY ETF represents ownership in the SPDR S&P 500 Trust, a unit investment trust that generally corresponds to the price and yield performance of the SPDR S&P 500 Index. 2 17 BILLING CODE 8011–01–P VerDate Sep<11>2014 Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to SPY Position Limits 1 15 [FR Doc. 2015–17445 Filed 7–13–15; 4:15 pm] 33 17 [Release No. 34–75414; File No. SR–Phlx– 2015–60] Jkt 235001 PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of the proposed rule change is to amend Rule 1001, entitled ‘‘Position Limits,’’ to extend the current pilot, which expires on July 12, 2015 for an additional twelve (12) month time period to July 12, 2016 (‘‘Extended Pilot’’). This filing does not propose any substantive changes to the SPY Pilot Program. In proposing to extend the SPY Pilot Program, the Exchange reaffirms its consideration of several factors that supported the original proposal of the SPY Pilot Program, including (1) the availability of economically equivalent products and their respective position limits; (2) the liquidity of the option and the underlying security; (3) the market capitalization of the underlying security and the related index; (4) the reporting of large positions and requirements surrounding margin; and (5) the potential for market on close volatility. The Exchange submitted a report to the Commission on June 11, 2015, which report reflects, during the time period from December 2014 through May 2015, the trading of standardized SPY options with no position limits consistent with option exchange provisions.4 The report was prepared in the manner specified in Phlx’s prior filing extending the SPY Pilot Program.5 The Exchange notes that it is unaware of any problems created by the SPY Pilot Program and does not foresee any as a result of the proposed extension. The proposed extension will allow the Exchange and the Commission additional time to further evaluate the pilot program and its effect on the market. As with the original proposal, related to the SPY Pilot Program, the Exchange represents that a Pilot Report will be submitted at least thirty (30) days before the end of the Extended Pilot and would analyze that period. The Pilot Report will detail the size and different types of strategies employed with respect to positions established as a result of the elimination of position limits in SPY. In addition, the report will note whether any problems resulted due to the no limit approach and any other information that may be useful in evaluating the effectiveness of the Extended Pilot. The Pilot Report will 4 The report is attached as Exhibit 3. Securities Exchange Act Release No. 74099 (January 20, 2015), 80 FR 4021 (January 26, 2015) (SR–Phlx–2015–07). 5 See E:\FR\FM\15JYN1.SGM 15JYN1

Agencies

[Federal Register Volume 80, Number 135 (Wednesday, July 15, 2015)]
[Notices]
[Page 41538]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-17445]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Smart Ventures, Inc.; Order of Suspension of 
Trading

July 13, 2015.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Smart Ventures, Inc. (``Smart Ventures'') because of questions 
regarding the accuracy and completeness of assertions by Smart Ventures 
in reports posted on the OTC Link operated by OTC Markets Group, Inc. 
and in press releases. This includes questions about the accuracy of a 
report issued by Smart Ventures for the quarterly period ended March 
31, 2015 and a press release issued on June 30, 2015 with respect to 
the company's business plans and activities, control persons, related 
party transactions and financial statements.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in the 
securities of the above-listed company.
    Therefore, it is ordered, pursuant to Section 12(k) of the 
Securities Exchange Act of 1934, that trading in the securities of the 
above-listed company is suspended for the period from 9:30 a.m. EDT, on 
July 13, 2015 through 11:59 p.m. EDT, on July 24, 2015.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2015-17445 Filed 7-13-15; 4:15 pm]
 BILLING CODE 8011-01-P
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