Pharos Capital Partners II, L.P.; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest, 59793-59794 [05-20496]

Download as PDF Federal Register / Vol. 70, No. 197 / Thursday, October 13, 2005 / Notices Process. The Exchange also proposes adding a definition to PCXE Rule 1.1 to describe a LMM as an exclusive DMM for primary listings. Further, the Exchange proposes adding language to PCXE Rule 7.22 regarding the Registration of Market Makers to provide the Corporation with the ability to limit the number of DMMs with prior written notice to ETP Holders.8 PCXE Rule 7.22 already provides that the Corporation may consider certain performance and capability guidelines in selecting Market Makers. The Exchange also proposes adding DMM and LMM selection criteria that is consistent with the criteria described in PCX Rule 6.82 for options LMMs.9 In addition, the Exchange seeks to clarify in PCXE Rule 7.24 that DMMs would be required to maintain certain performance standards which may vary depending on the price, liquidity, and volatility of the security. In particular, such standards would include (i) Percent of time at the NBBO; (ii) percent of executions better than the NBBO; (iii) average displayed size; (iv) average quoted spread; and (v) in the event the security is a derivative security, the ability of the DMM to transact in the underlying markets. The Exchange would have the ability to modify the specific levels to be used in defining the performance standards, however, the Exchange would not modify the types of standards to be used. Lastly, PCXE Rule 7.25 would be modified to require LMMs to register as Odd Lot Dealers in the securities in which they are registered as LMM. This modification would ensure that odd lot executions are facilitated for primary listings that could not otherwise be routed away to another market center for execution. 2. Statutory Basis The Exchange believes that the proposed rule change, as amended, is consistent with Section 6(b) of the Act,10 in general, and furthers the objectives of Section 6(b)(5) of the Act,11 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and 8 See PCXE Rule 1.1(n). PCX Rule 6.82(e) which states ‘‘The Exchange will select that candidate who appears best able to perform the functions of an LMM in the designated option issue. Factors to be considered for selection include, but are not limited to, the following: experience with trading the option issue; adequacy of capital; willingness to promote the Exchange as a marketplace; operational capacity; support personnel; history of adherence to Exchange rules and securities laws; trading crowd evaluations made pursuant to Rule 6.100; and any other criteria specified in this Rule.’’ 10 15 U.S.C. 78f(b). 11 15 U.S.C. 78f(b)(5). 9 See VerDate Aug<31>2005 16:14 Oct 12, 2005 Jkt 208001 equitable principals of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, and to remove impediments to and perfect the mechanism of a free and open market and a national market system. 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 that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments on the proposed rule change were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the Exchange consents, the Commission will: (A) by order approve such proposed rule change, as amended, or (B) institute proceedings to determine whether the proposed rule change, as amended, should be disapproved. Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change, as amended, is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–PCX–2005–56 on the subject line. Paper Comments • Send paper comments in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549–9303. All submissions should refer to File Number SR–PCX–2005–56. This file number should be included on the Frm 00080 Fmt 4703 Sfmt 4703 subject line if e-mail 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 inspection and copying in the Commission’s Public Reference Section, Station Place, 100 F Street, NE., Washington, DC 20549. Copies of such filing also will be available for inspection and copying at the principal office of the PCX. 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–PCX– 2005–56 and should be submitted on or before November 3, 2005. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.12 J. Lynn Taylor, Assistant Secretary. [FR Doc. E5–5594 Filed 10–12–05; 8:45 am] BILLING CODE 8010–01–P IV. Solicitation of Comments PO 00000 59793 SMALL BUSINESS ADMINISTRATION [License No. 06/76–0329] Pharos Capital Partners II, L.P.; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest Notice is hereby given that Pharos Capital Partners II, L.P., One Burton Hills Blvd., Suite 180, Nashville, TN 37215, a Federal Licensee under the Small Business Investment Act of 1958, as amended (‘‘the Act’’), in connection with the financing of a small concern, has sought an exemption under section 312 of the Act and § 107.730, Financings which Constitute Conflicts of Interest of the Small Business Administration (‘‘SBA’’) Rules and Regulations (13 CFR 107.730). Pharos Capital Partners II, L.P. proposes to provide equity/debt security financing to Alereon, Inc. The financing 12 17 E:\FR\FM\13OCN1.SGM CFR 200.30–3(a)(12). 13OCN1 59794 Federal Register / Vol. 70, No. 197 / Thursday, October 13, 2005 / Notices is contemplated for working capital and general corporate purposes. The financing is brought within the purview of § 107.730(a)(1) of the Regulations because Pharos Capital Partners, L.P. is an Associate of Pharos Capital Partners II, L.P. which owns more than ten percent of Alereon, Inc. Therefore, Alereon, Inc. is considered an Associate of Pharos Capital Partners II, L.P. as defined in 13 CFR 107.50 of the SBIC Regulations. Notice is hereby given that any interested person may submit written comments on the transaction to the Associate Administrator for Investment, U.S. Small Business Administration, 409 Third Street, SW., Washington, DC 20416. ´ Jaime Guzmann-Fournier, Associate Administrator for Investment. [FR Doc. 05–20496 Filed 10–12–05; 8:45 am] BILLING CODE 6025–01–P SOCIAL SECURITY ADMINISTRATION Privacy Act of 1974 as Amended; Computer Matching Program (SSA/ Department of Labor (DOL))—Match Number 1003 AGENCY: Social Security Administration (SSA). Notice of the renewal of an existing computer matching program which is scheduled to expire on November 16, 2005. ACTION: SUMMARY: In accordance with the provisions of the Privacy Act, as amended, this notice announces the renewal of an existing computer matching program that SSA is currently conducting with DOL. DATES: SSA will file a report of the subject matching program with the Committee on Homeland Security and Governmental Affairs of the Senate; the Committee on Government Reform and Oversight of the House of Representatives; and the Office of Information and Regulatory Affairs, Office of Management and Budget (OMB). The renewal of the matching program will be effective as indicated below. Interested parties may comment on this notice by either telefax to (410) 965–8582 or writing to the Associate Commissioner for Income Security Programs, 245 Altmeyer Building, 6401 Security Boulevard, Baltimore, MD 21235–6401. All comments received will be available for public inspection at this address. ADDRESSES: VerDate Aug<31>2005 16:14 Oct 12, 2005 Jkt 208001 FOR FURTHER INFORMATION CONTACT: The Associate Commissioner for Income Security Programs as shown above. SUPPLEMENTARY INFORMATION: A. General The Computer Matching and Privacy Protection Act of 1988 (Public Law (Pub. L.) 100–503), amended the Privacy Act (5 U.S.C. 552a) by describing the manner in which computer matching involving the Federal government could be performed and adding certain protections for individuals applying for and receiving Federal benefits. Section 7201 of the Omnibus Budget Reconciliation Act of 1990 (Pub. L. 101– 508) further amended the Privacy Act regarding protections for such individuals. The Privacy Act, as amended, regulates the use of computer matching by Federal agencies when records in a system of records are matched with other Federal, State, or local government records. It requires Federal agencies involved in computer matching programs to: (1) Negotiate written agreements with the other agency, or agencies, participating in the matching programs; (2) Obtain the approval of the matching agreement by the Data Integrity Boards (DIB) of the participating Federal agencies; (3) Publish notice of the computer matching program in the Federal Register; (4) Furnish detailed reports about matching programs to Congress and OMB; (5) Notify applicants and beneficiaries that their records are subject to matching; and (6) Verify match findings before reducing, suspending, terminating or denying an individual’s benefits or payments. B. SSA Computer Matches Subject to the Privacy Act We have taken action to ensure that all of SSA’s computer matching programs comply with the requirements of the Privacy Act, as amended. Dated: September 27, 2005. Martin H. Gerry, Deputy Commissioner for Disability and Income Security Programs. Notice of Computer Matching Program, Social Security Administration (SSA) with the Department of Labor (DOL) A. Participating Agencies PO 00000 SSA and DOL. Frm 00081 Fmt 4703 Sfmt 4703 B. Purpose of the Matching Program The purpose of this matching program is to establish the conditions, terms, and safeguards for DOL’s disclosure of Part C Black Lung (BL) benefit data to SSA. SSA will use the match results to verify that recipients of Part C BL benefits are receiving the correct amount of Social Security disability benefits, as required by the Social Security Act (the Act). C. Authority for Conducting the Matching Program The legal authority for SSA to conduct this matching activity is contained in section 224(h)(1) of the Act (42 U.S.C. 424a(h)(1)). D. Categories of Records and Individuals Covered by the Matching Program DOL will provide SSA with a file extracted from the Office of Workers’ Compensation Programs’ BL Benefit Payments File. The extracted file will contain information about all live miners, under age 65, entitled to Part C BL benefits. Each record on the DOL file will be matched with SSA’s Master Beneficiary Record (SSA/OEEAS 60– 0090) to identify individuals potentially subject to benefit reductions due to their receipt of Part C BL benefits, under section 224 of the Act (42 U.S.C. 424a). E. Inclusive Dates of the Matching Program The matching program will become effective upon signing of the agreement by both parties to the agreement and approval of the agreement by the Data Integrity Boards of the respective agencies, but no sooner than 40 days after notice of the matching program is sent to Congress and the Office of Management and Budget, or 30 days after publication of this notice in the Federal Register, whichever date is later. The matching program will continue for 18 months from the effective date and may be extended for an additional 12 months thereafter, if certain conditions are met. [FR Doc. 05–20502 Filed 10–12–05; 8:45 am] BILLING CODE 4191–02–P SOCIAL SECURITY ADMINISTRATION Privacy Act of 1974, as Amended; Alterations to Existing System of Records and New Routine Use Disclosure AGENCY: Social Security Administration (SSA). Altered System of Records and Proposed New Routine Use. ACTION: E:\FR\FM\13OCN1.SGM 13OCN1

Agencies

[Federal Register Volume 70, Number 197 (Thursday, October 13, 2005)]
[Notices]
[Pages 59793-59794]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-20496]


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SMALL BUSINESS ADMINISTRATION

[License No. 06/76-0329]


Pharos Capital Partners II, L.P.; Notice Seeking Exemption Under 
Section 312 of the Small Business Investment Act, Conflicts of Interest

    Notice is hereby given that Pharos Capital Partners II, L.P., One 
Burton Hills Blvd., Suite 180, Nashville, TN 37215, a Federal Licensee 
under the Small Business Investment Act of 1958, as amended (``the 
Act''), in connection with the financing of a small concern, has sought 
an exemption under section 312 of the Act and Sec.  107.730, Financings 
which Constitute Conflicts of Interest of the Small Business 
Administration (``SBA'') Rules and Regulations (13 CFR 107.730). Pharos 
Capital Partners II, L.P. proposes to provide equity/debt security 
financing to Alereon, Inc. The financing

[[Page 59794]]

is contemplated for working capital and general corporate purposes.
    The financing is brought within the purview of Sec.  107.730(a)(1) 
of the Regulations because Pharos Capital Partners, L.P. is an 
Associate of Pharos Capital Partners II, L.P. which owns more than ten 
percent of Alereon, Inc. Therefore, Alereon, Inc. is considered an 
Associate of Pharos Capital Partners II, L.P. as defined in 13 CFR 
107.50 of the SBIC Regulations.
    Notice is hereby given that any interested person may submit 
written comments on the transaction to the Associate Administrator for 
Investment, U.S. Small Business Administration, 409 Third Street, SW., 
Washington, DC 20416.

Jaime Guzma[nacute]n-Fournier,
Associate Administrator for Investment.
[FR Doc. 05-20496 Filed 10-12-05; 8:45 am]
BILLING CODE 6025-01-P
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