In the Matter of China Energy Savings Technology, Inc.; Order of Suspension of Trading, 29689 [06-4807]

Download as PDF Federal Register / Vol. 71, No. 99 / Tuesday, May 23, 2006 / Notices therefore estimated to be approximately 360 hours. Based on the total costs per fund listed above, the total cost of Form N–17f–1’s collection of information requirements is estimated to be approximately $59,400.7 The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules. Compliance with the collections of information required by rule 17f–1 and Form N–17f– 1 is mandatory for funds that place their assets in the custody of a national securities exchange member. Responses will not be kept confidential. An agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a currently valid control number. General comments regarding the above information should be directed to the following persons: (i) Desk officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20504, or e-mail to: David_Rostker@omb.eop.gov; and R. Corey Booth, Director/Chief Information Officer, Office of Information Technology, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549. Comments must be submitted to OMB within 30 days of this notice. shareholders may have unjustifiably relied upon Rule 144 of the Securities Act of 1933 (‘‘Securities Act’’) in conducting an unlawful distribution of securities that failed to comply with the resale restrictions of Rule 144 of the Securities Act. The Commission is also concerned that China Energy may have unlawfully relied upon Form S–8 of the Securities Act to issue unrestricted securities. Questions also have arisen regarding the accuracy and completeness of information contained in China Energy’s public filings with the Commission concerning, among other things, statements regarding the company’s shareholder base. 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 abovelisted company is suspended for the period from 12:01 a.m. EDT, May 19, 2006, through 11:59 p.m. EDT, on June 2, 2006. Dated: May 15, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–7803 Filed 5–22–06; 8:45 am] [Release No. 34–53817; File No. SR–BSE– 2006–05] By the Commission. J. Lynn Taylor, Assistant Secretary. [FR Doc. 06–4807 Filed 5–19–06; 11:48 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Order Approving a Proposed Rule Change to Modify the Boston Options Exchange’s Fee Schedule to Impose Surcharge Fees for Transactions in Options on ETFs on a Retroactive Basis BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] May 17, 2006. In the Matter of China Energy Savings Technology, Inc.; Order of Suspension of Trading rmajette on PROD1PC67 with NOTICES May 19, 2006. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of China Energy Savings Technology, Inc. (‘‘China Energy’’), a Nevada corporation headquartered in Hong Kong. The Commission is concerned that certain China Energy affiliates and 7 This estimate is based on the following calculation: 360 hours × $165 (total annual cost per fund) = $59,400. VerDate Aug<31>2005 15:14 May 22, 2006 Jkt 208001 On March 15, 2006, the Boston Stock Exchange, Inc. (‘‘BSE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposal to retroactively establish certain Boston Options Exchange (‘‘BOX’’) licensing fee surcharges applicable to broker-dealer proprietary accounts and market maker accounts for trades in options on certain exchange traded funds (‘‘ETFs’’). The proposed rule change was published for 1 15 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00084 Fmt 4703 Sfmt 4703 29689 comment in the Federal Register on April 13, 2006.3 The Commission received no comments regarding the proposal. This order approves the proposed rule change. The BOX’s Fee Schedule currently has in place a surcharge fee item for transactions in the respective ETF options effected by market makers and broker-dealer proprietary accounts that imposes a $0.10 per contract fee for transactions in certain licensed options, including Standard & Poor’s Depository Receipts (SPY), iShares Russell 2000 Index Fund (IWM), iShares Russell 2000 Growth Index Fund (IWO), and iShares Nasdaq Biotechnology Index Fund (IBB).4 In addition, the BOX’s Fee Schedule currently lists a surcharge fee of $0.09 per contract fee for transactions in certain licensed options, including S&P Energy Select Sector SPDR Fund (XLE) and S&P Financial Select Sector SPDR Fund (XLF). The surcharge fees on the licensed options listed above became effective on January 4, 2006.5 The Exchange is now proposing to retroactively apply these surcharge fees from the Effective Dates listed in Table 1 of the notice 6 (‘‘Effective Dates’’) (i.e., the date on which each product commenced trading on BOX) through January 3, 2006.7 In addition, the Exchange is proposing to amend the BOX Fee Schedule to clarify the meaning of the current text in Section 4(b) (‘‘InterMarket Linkage’’) of the BOX Fee Schedule, which includes an explicit reference to the surcharge with respect to Inbound P and PA orders that are billed per contract.8 The BSE is also proposing to amend the title of Section 3 See Securities Exchange Act Release No. 53607 (April 6, 2006), 71 FR 19221 (‘‘Notice’’). 4 The BOX Fee Schedule also contains a $0.10 surcharge fee per contract for options on the ETF Nasdaq 1000 (‘‘QQQQ’’), which is not at issue in this proposed rule change. 5 See Securities Exchange Act Release No. 53454 (March 8, 2006), 71 FR 13439 (March 15, 2006) (SR– BSE–2006–01). 6 See Notice, supra note 3. The Standard & Poor’s Depository Receipts commenced trading on January 10, 2005; the iShares Russell 2000 Index Fund commenced trading on May 2, 2005; the S&P Energy Select Sector SPDR Fund commenced trading on June 6, 2005; and the iShares Russell 2000 Growth Index Fund, the iShares Nasdaq Biotechnology Index Fund, and S&P Financial Select Sector SPDR Fund all commenced trading on June 27, 2005. 7 BSE represents these fees are only charged to BOX Participants. 8 Specifically, the Exchange proposes to replace the sentence ‘‘Same as if were BOX Participant’’ with ‘‘This charge is the same as that which is applicable to a BOX Participant under Section 2. These orders are also subject to any additional passthrough surcharge fees specified in Section 2(c), as applicable.’’ E:\FR\FM\23MYN1.SGM 23MYN1

Agencies

[Federal Register Volume 71, Number 99 (Tuesday, May 23, 2006)]
[Notices]
[Page 29689]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-4807]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of China Energy Savings Technology, Inc.; Order of 
Suspension of Trading

May 19, 2006.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
China Energy Savings Technology, Inc. (``China Energy''), a Nevada 
corporation headquartered in Hong Kong.
    The Commission is concerned that certain China Energy affiliates 
and shareholders may have unjustifiably relied upon Rule 144 of the 
Securities Act of 1933 (``Securities Act'') in conducting an unlawful 
distribution of securities that failed to comply with the resale 
restrictions of Rule 144 of the Securities Act. The Commission is also 
concerned that China Energy may have unlawfully relied upon Form S-8 of 
the Securities Act to issue unrestricted securities.
    Questions also have arisen regarding the accuracy and completeness 
of information contained in China Energy's public filings with the 
Commission concerning, among other things, statements regarding the 
company's shareholder base.
    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 12:01 a.m. EDT, May 19, 2006, 
through 11:59 p.m. EDT, on June 2, 2006.

    By the Commission.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 06-4807 Filed 5-19-06; 11:48 am]
BILLING CODE 8010-01-P
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