In the Matter of U.S. Windfarming, Inc.; Order of Suspension of Trading, 34169 [05-11713]

Download as PDF Federal Register / Vol. 70, No. 112 / Monday, June 13, 2005 / Notices net asset value, which, in the case of securities traded on a public securities market for which quotations are available, is their last reported sales price on the exchange on which the securities are primarily traded or at the last sales price on a public securities market, or, if the securities are not listed on an exchange or a public securities market or if there is no such reported price, the average of the most recent bid and asked price (or, if no such asked price is available, the last quoted bid price). 4. Applicant will maintain and preserve for a period of not less than six years from the end of the fiscal year in which any In-Kind Repurchase Offer occurs, the first two years in an easily accessible place, a written record of such In-Kind Repurchase Offer that includes the identity of each shareholder of record that participated in such In-Kind Repurchase Offer, whether that shareholder was an Affiliated Shareholder, a description of each security distributed, the terms of the distribution, and the information or materials upon which the valuation was made. Windfarming purportedly has with other entities. Windfarming, a company that has made no public filings with the Commission or the NASD, is quoted on the Pink Sheets under the ticker symbol USWF.PK. 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. EDT, June 9, 2005 through 11:59 p.m. EDT, on June 22, 2005. For the Commission, by the Division of Investment Management, under delegated authority. Margaret H. McFarland, Deputy Secretary. [FR Doc. E5–3056 Filed 6–10–05; 8:45 am] [Release No. 34–51789; File No. SR–FICC– 2005–09] BILLING CODE 8010–01–P [File No. 500–1] In the Matter of U.S. Windfarming, Inc.; Order of Suspension of Trading June 9, 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 U.S. Windfarming, Inc. (‘‘Windfarming’’) because of concerns that Windfarming may have unjustifiably relied on Rule 504 of Regulation D of the Securities Act of 1933 in conducting an unlawful distribution of its securities that failed to comply with the resale restrictions of Regulation D. Questions also have been raised regarding the following company disclosures: (1) Statements regarding the company’s president’s background that were posted on Windfarming’s website; and (2) statements in press releases that remain posted on the company’s website regarding financial projections and business agreements that 16:45 Jun 10, 2005 Jkt 205001 BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing of a Proposed Rule Change Relating to the Collection of Fees for Services Provided by Other Entities June 6, 2005. SECURITIES AND EXCHANGE COMMISSION VerDate jul<14>2003 By the Commission. John G. Katz, Secretary. [FR Doc. 05–11713 Filed 6–9–05; 11:25 am] Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on May 3, 2005, Fixed Income Clearing Corporation (‘‘FICC’’) 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 primarily by FICC. The Commission is publishing this notice to solicit comments 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 proposed rule change would amend FICC’s rules to allow FICC to collect fees for services provided by unregulated subsidiaries of The Depository Trust and Clearing Corporation (‘‘DTCC’’) and by other entities. PO 00000 1 15 U.S.C. 78s(b)(1). Frm 00088 Fmt 4703 Sfmt 4703 34169 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FICC 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. FICC has prepared summaries, set forth in Sections (A), (B), and (C) below, of the most significant aspects of such statements.2 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change FICC is a subsidiary of DTCC. Members of FICC and their affiliates may from time to time utilize the services of DTCC subsidiaries that are not registered as clearing agencies with the Commission. Such subsidiaries include Global Asset Solutions LLC and DTCC Deriv/Serv LLC. In addition, members of FICC and their affiliates may utilize the services of other third parties. FICC has determined that it would be more efficient and less costly if the fees that members agree to pay for such services were collected by FICC rather than through independent billing mechanisms that would otherwise have to be established by each subsidiary of DTCC and third party that is not a registered clearing agency. FICC’s rules currently allow for fee collection arrangements with respect to collection of fees from members. The proposed rule change would further clarify this practice and would facilitate collection of fees with respect to affiliates of members.3 FICC will enter into appropriate agreements with such subsidiaries and others regarding the collection of fees. FICC believes that the proposed rule change is consistent with the requirements of Section 17A of the Act and the rules and regulations thereunder because FICC will implement the service in a manner whereby FICC will be able to assure the safeguarding of securities and funds which are in its custody or control or for which it is responsible. 2 The Commission has modified parts of these statements. 3 FICC currently has such fee collection arrangements with The Bond Market Association (‘‘TMBA’’) pursuant to specific rules provisions. FICC continues to collect fees on behalf of TBMA; however, pursuant to this filing, the existing rules provisions which govern the TBMA arrangement will be replaced with broader language intended to cover all such fee collection arrangements entered into by FICC. E:\FR\FM\13JNN1.SGM 13JNN1

Agencies

[Federal Register Volume 70, Number 112 (Monday, June 13, 2005)]
[Notices]
[Page 34169]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-11713]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of U.S. Windfarming, Inc.; Order of Suspension of 
Trading

June 9, 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 U.S. Windfarming, Inc. (``Windfarming'') 
because of concerns that Windfarming may have unjustifiably relied on 
Rule 504 of Regulation D of the Securities Act of 1933 in conducting an 
unlawful distribution of its securities that failed to comply with the 
resale restrictions of Regulation D. Questions also have been raised 
regarding the following company disclosures: (1) Statements regarding 
the company's president's background that were posted on Windfarming's 
website; and (2) statements in press releases that remain posted on the 
company's website regarding financial projections and business 
agreements that Windfarming purportedly has with other entities. 
Windfarming, a company that has made no public filings with the 
Commission or the NASD, is quoted on the Pink Sheets under the ticker 
symbol USWF.PK.
    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. EDT, June 9, 2005 
through 11:59 p.m. EDT, on June 22, 2005.

    By the Commission.
John G. Katz,
Secretary.
[FR Doc. 05-11713 Filed 6-9-05; 11:25 am]
BILLING CODE 8010-01-P
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