Courtside products, Inc.; Order of Suspension of Trading, 5258-5259 [05-1910]

Download as PDF 5258 Federal Register / Vol. 70, No. 20 / Tuesday, February 1, 2005 / Notices annual burden of the collection of information is 1 hour and $553,477. Issued in Washington, DC, this 12th day of January 2005. Stuart A. Sirkin, Director, Policy, Research and Analysis Department, Pension Benefit Guaranty Corporation. [FR Doc. 05–1844 Filed 1–31–05; 8:45 am] BILLING CODE 7708–01–P OFFICE OF PERSONNEL MANAGEMENT Comment Request for OMB Review of an Extension of the Nonforeign Area Cost-of-Living Allowance Price and Background Surveys Office of Personnel Management. ACTION: Notice. AGENCY: SUMMARY: In accordance with the Paperwork Reduction Act of 1995, the Office of Personnel Management (OPM) seeks comments on its intention to request an extension of two currently approved information collections. OPM uses the two collections, a Price Survey and a Background Survey, to gather data it uses to determine cost-of-living allowances the Government provides to certain Federal employees in Alaska, Hawaii, Guam and the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands. OPM conducts Price Surveys in the Washington, DC, area on an annual basis and once every 3 years in each allowance area on a rotating basis. Prior to these surveys, OPM conducts Background Surveys that are similar to the Price Survey, but much more limited in scope. OPM uses the results of the Background Surveys to prepare for the Price Surveys. DATES: Submit comments on or before April 4, 2005. ADDRESSES: Send or deliver comments to Donald J. Winstead, Deputy Associate Director for Pay and Performance Policy, Office of Personnel Management, Room 7H31, 1900 E Street NW., Washington, DC 20415–8200; fax (202) 606–4264, or e-mail: cola@opm.gov. SUPPLEMENTARY INFORMATION: Office of Management and Budget (OMB) approval of the Nonforeign Area Cost-ofLiving Allowance (COLA) Price Survey and Background Survey will expire on May 31, 2005. The Office of Personnel Management (OPM) plans to request OMB approval for a 3-year extension of these currently approved information collections and is seeking comments prior to submitting the collections to OMB for review. VerDate jul<14>2003 15:06 Jan 31, 2005 Jkt 205001 Comments are particularly invited on whether (1) these collections of information are necessary for the proper performance of OPM functions, (2) they will have practical utility, (3) our estimate of the public burden of these collections of information is accurate and based on valid assumptions and methodology, and (4) there are ways in which we can minimize respondent burden of the collections of information through the use of appropriate technological collection techniques or other forms of information technology. For copies of this proposal, contact Mary Beth Smith-Toomey on (202) 606– 8358, fax (202) 418–3251, or e-mail mbtoomey@opm.gov. Please include a mailing address with your request. Overview of Information Collections Title: Nonforeign Area Cost-of-Living Allowance Price Survey and Background Survey. OMB Control Number: 3206–0199. Summary: OPM uses the COLA Price Survey to collect price data in survey areas located in the nonforeign allowance areas and in the Washington, DC, area. The allowance areas are located in Alaska, Hawaii, Guam and the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands. OPM conducts Price Surveys annually in the DC area and once every 3 years in the allowance areas on a rotating basis. OPM uses the COLA Background Survey to collect information to identify the services, items, quantities, outlets, and locations OPM will survey in the Price Surveys. OPM also uses Background Surveys to collect information on local trade practices, consumer buying patterns, taxes and fees, and other economic characteristics related to living costs. OPM conducts Background Surveys annually on a limited basis. Need/Use for Surveys: The COLA Price Survey is necessary for collecting living-cost data OPM uses to determine COLAs received by General Schedule, U.S. Postal Service, and certain other Federal employees in the allowance areas. OPM uses the survey results to compare prices in the allowance areas with prices in the Washington, DC, area and to derive COLA rates where local living costs significantly exceed those in the DC area. The COLA Background Survey is necessary to determine the continued appropriateness of items, services, and businesses selected for the annual price surveys. OPM uses the information collected under the Background Survey to identify items to be priced and the outlets at which OPM will price the items in the Price Surveys. PO 00000 Frm 00130 Fmt 4703 Sfmt 4703 Respondents: OPM will survey selected retail, service, realty, and other businesses and local governments in the allowance areas and in the Washington, DC, area. OPM will contact approximately 2,000 establishments in each annual Price Survey and approximately 100 establishments in each annual Background Survey. Participation in the surveys is voluntary. Reporting and Recordkeeping Burden: Based on experience, OPM estimates that the average Price Survey interview takes approximately 6 minutes, for a total burden of 200 hours. Also based on experience, OPM estimates that the average Background Survey interview will take approximately 6.5 minutes, for a total burden of 11 hours. Office of Personnel Management. Kay Coles James, Director. [FR Doc. 05–1728 Filed 1–31–05; 8:45 am] BILLING CODE 6325–39–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] Courtside products, Inc.; Order of Suspension of Trading January 28, 2005 It appears to the Securities and Exchange Commission that the public interest and the protection of investors require a suspension of trading in the securities of Courtside Products, Inc. (‘‘Courtside’’). The Commission is concerned that Courtside may have unjustifiably relied on Rule 504 of Regulation D of the Securities Act of 1933 in conducting an unlawful distribution of its securities which failed to comply with the resale restrictions of Regulation D. Courtside, a company that has made no public filings with the Commission or the NASD, is quoted on the Pink Sheets under the ticker symbol CSDP, and has recently been the subject of spam e-mail touting the company’s shares. 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 above listed company is suspended for the period from 9:30 a.m. e.s.t. January 28, 2005 through 11:59 p.m. e.s.t., on February 10, 2005. E:\FR\FM\01FEN1.SGM 01FEN1 Federal Register / Vol. 70, No. 20 / Tuesday, February 1, 2005 / Notices By the Commission. Jonathan G. Katz, Secretary. [FR Doc. 05–1910 Filed 1–28–05; 3:01 pm] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–51068; File No. SR–BSE– 2005–02] Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Its Instant Liquidity Access Rules January 21, 2005. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder 2 notice is hereby given that on January 7, 2005, the Boston Stock Exchange, Inc. (‘‘Exchange’’ or ‘‘BSE’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule as described in Items I and II below, which Items have been prepared by the Exchange. The proposed rule change has been filed by the Exchange as a noncontroversial filing pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b– 4(f)(6) thereunder,4 which renders it effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its rules regarding Instant Liquidity Access (‘‘ILA’’). 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 is available on the BSE’s Web site (http://www.bostonstock.com), at the BSE’s Office of the Secretary, and at the Commission’s Public Reference Room. The Exchange has prepared summaries, set forth in Sections A, B, U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(6). and C below, of the most significant aspects of such statements. 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 a section of the Rules of the Board of Governors of the Boston Stock Exchange (‘‘BSE Rules’’) relating to ILA. In Chapter I, Section 3 of the BSE Rules ‘‘Instant Liquidity Access (ILA) Order’’ is defined as ‘‘a round-lot limit order of no less than 100, nor more than 1000, shares priced at the Exchange’s published offer (in the case of a buy) or at the Exchange’s published bid (in the case of an order to sell), which a member or member organization has entered for immediate execution in accordance with, and to the extent provided by, Chapter XXXIII, Section 8 (Instant Liquidity Access) of these Rules.’’ The Exchange is proposing to remove the phrase ‘‘nor more than 1000’’ from the definition, thereby removing any size restriction of ILA orders, aside from the requirement that they be round-lot orders of at least 100 shares. When the ILA rules were originally drafted, the Exchange built certain protections, including the 1000 share size limit of an ILA order, into its rules to provide Exchange specialists time to adjust to the new type of execution being offered through ILA. The Exchange and its specialists have now had several months of experience with ILA, and both Exchange customers and specialists have requested that various aspects of the ILA rules be changed so that ILA can be utilized for a larger percentage of orders. For example, the Exchange recently filed a rule proposal with the Commission to remove rule language which prevented orders being entered by one customer in intervals less than thirty seconds.5 The concern in that filing centered on the potential for rapid-fire orders overwhelming the BSE specialists. However, the BSE has addressed that concern through systemic enhancements which, according to ILA rules, automatically cancel an ILA order if it cannot be immediately executed. Accordingly, because systemic enhancements have obviated the need for such a restriction, the Exchange sought to abolish the limitation. Similarly, in the present proposal, systemic enhancements have made the 1 15 VerDate jul<14>2003 15:06 Jan 31, 2005 1000 share limitation unnecessary. The Exchange’s BEACON trading system is able to respond to orders of all sizes equally and there is no need for a size limitation. Accordingly, the BSE and its specialists seek to encourage more customers to utilize ILA, and thereby have their orders, regardless of size, instantly executed. 2. Statutory Basis The Exchange believes that the proposal is consistent with the requirements of Section 6(b) of the Act 6 in general, and Section 6(b)(5) 7 in particular, in that it is designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and is not designed to permit unfair discrimination between customers, brokers, or dealers, or to regulate by virtue of any authority matters not related to the administration of the Exchange. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has designated the proposed rule change as one that: (1) Does not significantly affect the protection of investors or the public interest; (2) does not impose any significant burden on competition; and (3) does not become operative for 30 days from the date of filing, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest pursuant to Section 19(b)(3)(A) of the Act 8 and Rule 19b–4(f)(6) 9 thereunder. The Commission, consistent with the protection of investors and the public interest, has determined to make the proposed rule change effective as of the 6 15 2 17 5 See Securities Exchange Act Release No. 51031 (January 12, 2005), 70 FR 3404 (January 24, 2005) (SR–BSE–2004–46). Jkt 205001 PO 00000 Frm 00131 Fmt 4703 Sfmt 4703 5259 U.S.C. 78f(b). U.S.C. 78f(b)(5). 8 15 U.S.C. 78s(b)(3)(a). 9 17 CFR 240.19b–4(f)(6). 7 15 E:\FR\FM\01FEN1.SGM 01FEN1

Agencies

[Federal Register Volume 70, Number 20 (Tuesday, February 1, 2005)]
[Notices]
[Pages 5258-5259]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-1910]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


Courtside products, Inc.; Order of Suspension of Trading

January 28, 2005
    It appears to the Securities and Exchange Commission that the 
public interest and the protection of investors require a suspension of 
trading in the securities of Courtside Products, Inc. (``Courtside''). 
The Commission is concerned that Courtside may have unjustifiably 
relied on Rule 504 of Regulation D of the Securities Act of 1933 in 
conducting an unlawful distribution of its securities which failed to 
comply with the resale restrictions of Regulation D. Courtside, a 
company that has made no public filings with the Commission or the 
NASD, is quoted on the Pink Sheets under the ticker symbol CSDP, and 
has recently been the subject of spam e-mail touting the company's 
shares.
    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 above listed 
company is suspended for the period from 9:30 a.m. e.s.t. January 28, 
2005 through 11:59 p.m. e.s.t., on February 10, 2005.


[[Page 5259]]


    By the Commission.
Jonathan G. Katz,
Secretary.
[FR Doc. 05-1910 Filed 1-28-05; 3:01 pm]
BILLING CODE 8010-01-P