In the Matter of Solomon Alliance Group, Inc.; Order of Suspension of Trading, 42687 [06-6535]

Download as PDF Federal Register / Vol. 71, No. 144 / Thursday, July 27, 2006 / Notices on Thursday, July 27, 2006: An adjudicatory matter. The Commission determined that no earlier notice thereof was possible. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact the Office of the Secretary at (202) 551–5400. Dated: July 25, 2006. Jill M. Peterson, Assistant Secretary. [FR Doc. 06–6536 Filed 7–25–06; 11:14 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Solomon Alliance Group, Inc.; Order of Suspension of Trading July 25, 2006. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Solomon Alliance Group, Inc. because it has not filed any periodic reports since the period ended September 30, 2001. 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 securities of the above-listed company is suspended for the period from 9:30 a.m. EDT on July 25, 2006, through 11:59 p.m. EDT on August 7, 2006. By the Commission. Jill M. Peterson, Assistant Secretary. [FR Doc. 06–6535 Filed 7–25–06; 11:27 am] SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54181; File No. SR–Amex– 2006–61] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto Relating to the Handling of Immediate or Cancel Orders in Options July 20, 2006. 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 June 26, 2006, the American Stock Exchange LLC (‘‘Amex’’ or ‘‘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 substantially prepared by the Exchange. On July 18, 2006, the Exchange filed Amendment No. 1 to the proposed rule change.3 The Exchange has designated this proposal as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the Exchange pursuant to Section 19(b)(3)(A)(i) of the Act 4 and Rule 19b– 4(f)(1) thereunder,5 which renders the proposal effective upon filing with the Commission.6 The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to clarify the appropriate handling of immediate or cancel (‘‘IOC’’) orders in options. The text of the proposed rule change is available on the Exchange’s Web site at http://www.amex.com, at the Office of the Secretary of the Exchange, and at the Commission’s Public Reference Room. 42687 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 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 Exchange proposes to provide an interpretation in connection with the appropriate handling of IOC orders in options for the benefit of its members and the marketplace. An IOC order in options, as set forth in Amex Rule 950—ANTE(e)(v), is defined as a market or limited price order which is to be executed in whole or in part as soon as such order is represented in the ANTE System. Any portion of an IOC order that is not so executed is treated as cancelled. Consistent with Amex Rule 958A– ANTE (‘‘Firm Quote Rule’’), IOC orders must be executed as soon as they are represented in ANTE. Amex Rule 958A—ANTE(c) provides that the responsible broker or dealer 7 must execute customer orders in an amount up to their published quotation size. In connection with broker dealer orders, the responsible broker or dealer is obligated to execute broker-dealer orders up to the quotation size established by the Exchange, which quotation size must be at least one (1) contract. The appropriate handling of IOC orders in a linked environment has become increasingly complex. Section 8(c) of the intermarket options linkage plan 8 (‘‘Linkage Plan’’ or ‘‘Linkage’’) BILLING CODE 8010–01–P 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 In Amendment No. 1, the Exchange proposes to revise the proposed rule text to make it more clear. 4 15 U.S.C. 78s(b)(3)(A)(i). 5 17 CFR 240.19b–4(f)(1). 6 For purposes of calculating the 60-day period within which the Commission may summarily abrogate the proposed rule change the Commission considers the period to commence on July 18, 2006, the date on which the Exchange filed Amendment No. 1. See 15 U.S.C. 78s(b)(3)(C). rwilkins on PROD1PC63 with NOTICES 2 17 VerDate Aug<31>2005 18:18 Jul 26, 2006 Jkt 208001 PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 7 Amex Rule 958A—ANTE(a)(ii) includes specialists and registered options traders in the definition of a responsible broker or dealer. Remote registered options traders and supplemental registered options traders are also included in the definition of responsible broker or dealer, subject to certain conditions. 8 See Plan for the Purpose of Creating and Operating an Intermarket Options Linkage, Securities Exchange Act Release Nos. 43086 (July 28, 2000), 65 FR 48023 (August 4, 2000) (Amex, CBOE and ISE); 43573 (November 14, 2000), 65 FR 70851 (November 28, 2000) (Phlx); 43574 E:\FR\FM\27JYN1.SGM Continued 27JYN1

Agencies

[Federal Register Volume 71, Number 144 (Thursday, July 27, 2006)]
[Notices]
[Page 42687]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-6535]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Solomon Alliance Group, Inc.; Order of 
Suspension of Trading

July 25, 2006.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Solomon Alliance Group, Inc. because it has not filed any periodic 
reports since the period ended September 30, 2001.
    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 securities of the 
above-listed company is suspended for the period from 9:30 a.m. EDT on 
July 25, 2006, through 11:59 p.m. EDT on August 7, 2006.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 06-6535 Filed 7-25-06; 11:27 am]
BILLING CODE 8010-01-P