In the Matter of Cascade Technologies Corp., Echo Automotive, Inc., and Vision Industries Corp.; Order of Suspension of Trading, 39726-39727 [2016-14473]

Download as PDF 39726 Federal Register / Vol. 81, No. 117 / Friday, June 17, 2016 / Notices offering the service and also deriving a profit therefrom. As noted above, this service is completely voluntary and market participants have connectivity options for reporting to the TRF other than the Exchange. Thus, market participants are able to readily choose a third party offering if the Exchange’s does not satisfy their needs or perform the functionality in-house, rendering the degree to which fee changes to this service may impose any burden on competition to be extremely limited. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act.10 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: sradovich on DSK3TPTVN1PROD with NOTICES Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– NASDAQ–2016–081 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NASDAQ–2016–081. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street NE., Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filing also will be available for 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– NASDAQ–2016–081, and should be submitted on or before July 8, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–14312 Filed 6–16–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Cascade Technologies Corp., Echo Automotive, Inc., and Vision Industries Corp.; Order of Suspension of Trading It appears to the Securities and Exchange Commission (‘‘Commission’’) that there is a lack of current and accurate information concerning the securities of Cascade Technologies Corp. (‘‘CSDT 1’’) (CIK No. 1324344), a Wyoming corporation located in Beverly Hills, California with a class of securities registered with the Commission pursuant to Securities Exchange Act of 1934 (‘‘Exchange Act’’) Section 12(g) because it is delinquent in 11 17 CFR 200.30–3(a)(12). short form of each issuer’s name is also its stock symbol. 1 The 10 15 U.S.C. 78s(b)(3)(A)(ii). VerDate Sep<11>2014 16:48 Jun 16, 2016 Jkt 238001 PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10–Q for the period ended September 30, 2012. On April 15, 2014, the Commission’s Division of Corporation Finance (‘‘Corporation Finance’’) sent a delinquency letter to CSDT requesting compliance with its periodic filing requirements which was delivered. As of June 8, 2016, the common shares of CSDT were quoted on OTC Link operated by OTC Markets Group Inc. (formerly ‘‘Pink Sheets’’) (‘‘OTC Link’’), had seven market makers, and were eligible for the ‘‘piggyback’’ exception of Exchange Act Rule 15c2–11(f)(3). It appears to the Commission that there is a lack of current and accurate information concerning the securities of Echo Automotive, Inc. (‘‘ECAU’’) (CIK No. 1453420), a revoked Nevada corporation located in Scottsdale, Arizona with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g) because it is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10–Q for the period ended March 31, 2014. On November 30, 2015, Corporation Finance sent a delinquency letter to ECAU requesting compliance with its periodic filing requirements but ECAU did not receive the delinquency letter due to its failure to maintain a valid address on file with the Commission as required by Commission rules (Rule 301 of Regulation S–T, 17 CFR 232.301 and Section 5.4 of EDGAR Filer Manual) (‘‘Commission Issuer Address Rules’’). As of June 8, 2016, the common stock of ECAU was quoted on OTC Link, had five market makers, and was eligible for the ‘‘piggyback’’ exception of Exchange Act Rule 15c2– 11(f)(3). It appears to the Commission that there is a lack of current and accurate information concerning the securities of Vision Industries Corp. (‘‘VIICQ’’) (CIK No. 1405424), a dissolved Florida corporation located in Long Beach, California with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g) because it is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10–Q for the period ended June 30, 2014. On September 15, 2015, Corporation Finance sent a delinquency letter to VIICQ requesting compliance with its periodic filing requirements but VIICQ did not receive the delinquency letter due to its failure to maintain a valid address on file with the Commission as required by Commission Issuer Address Rules. As of June 8, E:\FR\FM\17JNN1.SGM 17JNN1 Federal Register / Vol. 81, No. 117 / Friday, June 17, 2016 / Notices 2016, the common stock of VIICQ was quoted on OTC Link, had eight market makers, and was eligible for the ‘‘piggyback’’ exception of Exchange Act Rule 15c2–11(f)(3). 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 companies. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the abovelisted companies is suspended for the period from 9:30 a.m. EDT on June 15, 2016, through 11:59 p.m. EDT on June 28, 2016. By the Commission. Jill M. Peterson, Assistant Secretary. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–78048; File No. SR–NSX– 2016–03] Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Fee and Rebate Schedule To Adopt a Market Data Revenue Sharing Program June 13, 2016. sradovich on DSK3TPTVN1PROD with NOTICES 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 June 1, 2016, National Stock Exchange, Inc. (‘‘NSX’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change, as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comment on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange is proposing to amend Exchange Rule 16.1, Fee Schedule, to adopt a market data revenue (‘‘MDR’’) sharing program, add a definition of the term Average Daily Volume (‘‘ADV’’), and make ministerial changes to the Fee Schedule. The text of the proposed rule change is available on the Exchange’s Web site 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 16:48 Jun 16, 2016 Jkt 238001 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 parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2016–14473 Filed 6–15–16; 4:15 pm] 1 15 at https://www.nsx.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. 1. Purpose The Exchange proposes to amend Rule 16.1, Fee Schedule, with the goal of maximizing the effectiveness of its business model and continuing to provide Equity Trading Permit (‘‘ETP’’) Holders 3 a cost-effective execution venue. The Exchange is proposing to implement the MDR sharing program as a part of the Fee Schedule, add a definition of ‘‘ADV’’ and make ministerial changes to the Fee Schedule. The Exchange’s proposed MDR sharing program provides for the issuance of a credit to ETP Holders for executing trades on the Exchange within two defined volume tiers. The credit is equal to a specified percentage of the monthly market data revenue received by the Exchange that is attributable to such ETP Holder’s displayed quoting and trading activity in securities priced at $1.00 or greater on the Exchange. If, over the course of a calendar month, an ETP Holder executes an ADV of greater than or equal to 500,000, but less than 1,500,000, shares of securities priced $1.00 or greater, then the ETP Holder will receive a credit of 25% of the market data revenue that the Exchange received that calendar month that was attributable to that ETP Holder’s executions and displayed quotes in securities priced $1.00 or greater. If, over the course of a calendar month, the ETP Holder executes an ADV of greater than or equal to 1,500,000 shares of securities priced $1.00 or greater, then the ETP Holder will receive a credit of 3 Exchange Rule 1.5 defines ‘‘ETP’’ as the Equity Trading Permit issued by the Exchange for effecting approved securities transactions on the Exchange’s trading facilities. PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 39727 50% of the market data revenue that the Exchange received that calendar month that was attributable to that ETP Holder’s executions and displayed quotes in securities priced $1.00 or greater. In connection with the MDR sharing program, the Exchange is further proposing to amend the Fee Schedule to add Explanatory Note 4, which defines ‘‘ADV’’ as the average number of shares per day that an ETP Holder has executed on the Exchange in NMS securities priced at $1.00 or greater when the Exchange is open for trading during the calendar month. The Exchange will not count a day as part of the month, for the purpose of calculating ADV, if the Exchange is not continuously open for trading during Regular Trading Hours 4 on that day. For example, if the Exchange is open for abbreviated hours on a given day (e.g., until 1:00 p.m. on the day after the Thanksgiving Day holiday) or if the Exchange experiences a technological problem that renders the Exchange inoperative for part of the day, that day will not be factored in to the total number of days in the month when calculating ADV. If an ETP Holder is only eligible to trade on the Exchange for a portion of the month, the Exchange will calculate the ADV based on the number of days during the calendar month that the ETP Holder was eligible to trade. The Exchange notes that, for purposes of the ADV computation, an ETP Holder’s total trading activity on the Exchange in securities priced at $1.00 or greater will be utilized, including executions resulting from non-displayed orders. Explanatory Note 4 will clarify how the Exchange proposes to calculate ADV for the purposes of the market data revenue sharing program, described below. The Exchange proposes to add Explanatory Note 3 to the Fee Schedule to provide further information regarding MDR sharing.5 Explanatory Note 3 makes explicit that, assuming the minimum ADV thresholds are achieved, 4 NSX Rule 1.5R.(1) defines the term ‘‘Regular Trading Hours’’ as ‘‘the time between 9:30 a.m. and 4:00 p.m. Eastern Time.’’ 5 The Exchange has previously implemented other iterations of market data revenue sharing programs pursuant to filings with the Commission and such prior MDR sharing programs shared up to 50% of trade and quote market data revenue. See Securities Exchange Act Release No. 66958 (May 10, 2012), 77 FR 28909 (May 16, 2012) (SR–NSX– 2012–07); Securities Exchange Act Release No. 61103 (December 3, 2009), 74 FR 65576 (December 10, 2009) (SR–NSX–2009–07); Securities Exchange Act Release No. 58935 (November 13, 2008), 73 FR 69703 (November 19, 2008) (SR–NSX–2008–19); Securities Exchange Act Release No. 56890 (December 4, 2007), 72 FR 70360 (December 11, 2007) (SR–NSX–2007–13). E:\FR\FM\17JNN1.SGM 17JNN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 81, Number 117 (Friday, June 17, 2016)]
[Notices]
[Pages 39726-39727]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-14473]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Cascade Technologies Corp., Echo Automotive, 
Inc., and Vision Industries Corp.; Order of Suspension of Trading

    It appears to the Securities and Exchange Commission 
(``Commission'') that there is a lack of current and accurate 
information concerning the securities of Cascade Technologies Corp. 
(``CSDT \1\'') (CIK No. 1324344), a Wyoming corporation located in 
Beverly Hills, California with a class of securities registered with 
the Commission pursuant to Securities Exchange Act of 1934 (``Exchange 
Act'') Section 12(g) because it is delinquent in its periodic filings 
with the Commission, having not filed any periodic reports since it 
filed a Form 10-Q for the period ended September 30, 2012. On April 15, 
2014, the Commission's Division of Corporation Finance (``Corporation 
Finance'') sent a delinquency letter to CSDT requesting compliance with 
its periodic filing requirements which was delivered. As of June 8, 
2016, the common shares of CSDT were quoted on OTC Link operated by OTC 
Markets Group Inc. (formerly ``Pink Sheets'') (``OTC Link''), had seven 
market makers, and were eligible for the ``piggyback'' exception of 
Exchange Act Rule 15c2-11(f)(3).
---------------------------------------------------------------------------

    \1\ The short form of each issuer's name is also its stock 
symbol.
---------------------------------------------------------------------------

    It appears to the Commission that there is a lack of current and 
accurate information concerning the securities of Echo Automotive, Inc. 
(``ECAU'') (CIK No. 1453420), a revoked Nevada corporation located in 
Scottsdale, Arizona with a class of securities registered with the 
Commission pursuant to Exchange Act Section 12(g) because it is 
delinquent in its periodic filings with the Commission, having not 
filed any periodic reports since it filed a Form 10-Q for the period 
ended March 31, 2014. On November 30, 2015, Corporation Finance sent a 
delinquency letter to ECAU requesting compliance with its periodic 
filing requirements but ECAU did not receive the delinquency letter due 
to its failure to maintain a valid address on file with the Commission 
as required by Commission rules (Rule 301 of Regulation S-T, 17 CFR 
232.301 and Section 5.4 of EDGAR Filer Manual) (``Commission Issuer 
Address Rules''). As of June 8, 2016, the common stock of ECAU was 
quoted on OTC Link, had five market makers, and was eligible for the 
``piggyback'' exception of Exchange Act Rule 15c2-11(f)(3).
    It appears to the Commission that there is a lack of current and 
accurate information concerning the securities of Vision Industries 
Corp. (``VIICQ'') (CIK No. 1405424), a dissolved Florida corporation 
located in Long Beach, California with a class of securities registered 
with the Commission pursuant to Exchange Act Section 12(g) because it 
is delinquent in its periodic filings with the Commission, having not 
filed any periodic reports since it filed a Form 10-Q for the period 
ended June 30, 2014. On September 15, 2015, Corporation Finance sent a 
delinquency letter to VIICQ requesting compliance with its periodic 
filing requirements but VIICQ did not receive the delinquency letter 
due to its failure to maintain a valid address on file with the 
Commission as required by Commission Issuer Address Rules. As of June 
8,

[[Page 39727]]

2016, the common stock of VIICQ was quoted on OTC Link, had eight 
market makers, and was eligible for the ``piggyback'' exception of 
Exchange Act Rule 15c2-11(f)(3).
    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 companies. 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 companies is suspended 
for the period from 9:30 a.m. EDT on June 15, 2016, through 11:59 p.m. 
EDT on June 28, 2016.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2016-14473 Filed 6-15-16; 4:15 pm]
 BILLING CODE 8011-01-P

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