Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Order Approving Proposed Rule Change and Amendments No. 1 and 2 Relating to the Boston Options Exchange's Minor Rule Violation Plan, 19221-19222 [E7-7225]
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Federal Register / Vol. 72, No. 73 / Tuesday, April 17, 2007 / Notices
(10) and 17 CFR 200.402(a)(3), (5), (7),
9(ii) and (10), permit consideration of
the scheduled matters at the Closed
Meeting.
Commissioner Nazareth, as duty
officer, voted to consider the items
listed for the closed meeting in closed
session.
The subject matter of the Closed
Meeting scheduled for Thursday, April
19, 2007 will be:
Formal orders of investigations;
Institution and settlement of injunctive
actions;
Institution and settlement of
administrative proceedings of an
enforcement nature;
Litigation matters; and
Other matters related to enforcement
proceedings.
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: April 12, 2007.
Nancy M. Morris,
Secretary.
[FR Doc. E7–7282 Filed 4–16–07; 8:45 am]
2. Irwin Resources, Inc., is a Delaware
company with offices in Vancouver,
British Columbia, Canada. Questions
have arisen regarding the adequacy and
accuracy of press releases concerning
the company’s current financial
condition, management, operations, and
transactions involving the issuance of
the company’s shares.
3. Peopleline Telecom, Inc. is a
Nevada company based in Los Angeles,
California. Questions have arisen
regarding the adequacy and accuracy of
press releases concerning the company’s
operations and concerning stock
promoting activity.
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 companies listed
above.
Therefore, it is ordered, pursuant to
Section 12(k) of the Securities Exchange
Act of 1934, that trading in the
securities of the companies listed above
is suspended for the period from 9:30
a.m. EDT, April 13, 2007, through 11:59
p.m. EDT, on April 26, 2007.
By the Commission.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 07–1913 Filed 4–13–07; 12:56 pm]
BILLING CODE 8010–01–P
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
SECURITIES AND EXCHANGE
COMMISSION
[File No. 500.1]
[Release No. 34–55606; File No. SR–BSE–
2006–11]
In the Matter of Certain Companies
Quoted on the Pink Sheets: Amerossi
EC, Inc., Irwin Resources, Inc.,
Peopleline Telecom, Inc.; Order of
Suspension of Trading
Self-Regulatory Organizations; Boston
Stock Exchange, Inc.; Order Approving
Proposed Rule Change and
Amendments No. 1 and 2 Relating to
the Boston Options Exchange’s Minor
Rule Violation Plan
sroberts on PROD1PC70 with NOTICES
April 13, 2007.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of the issuers
listed below. As set forth below for each
issuer, questions have arisen regarding
the adequacy and accuracy of publicly
disseminated information concerning,
among other things: (1) The companies’
assets, (2) the companies’ business
operations, (3) the companies’ current
financial condition, and/or (4) financing
arrangements involving the issuance of
the companies’ shares.
1. Amerossi EC, Inc. is a Wyoming
company with offices in Bangkok,
Thailand. Questions have arisen
regarding the adequacy and accuracy of
press releases concerning the company’s
operations.
VerDate Aug<31>2005
19:39 Apr 16, 2007
Jkt 211001
April 10, 2007.
On March 6, 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 proposed rule
change to amend Chapter X of the
Boston Options Exchange (‘‘BOX’’)
Rules, BOX’s minor rule violation plan
(‘‘BOX MRVP’’). The Exchange filed
Amendments No. 1 and 2 to the
proposed rule change on June 28, 2006,
and July 14, 2006, respectively. The
proposed rule change, as amended, was
published for comment in the Federal
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00057
Fmt 4703
Sfmt 4703
19221
Register on March 7, 2007.3 The
Commission received no comments
regarding the proposal. This order
approves the proposed rule change, as
modified by Amendments No. 1 and 2.
The Exchange proposed to make the
following actions subject to the BOX
MRVP:
• contrary exercise advice infractions
(in violation of BOX Rule Chapter VII,
Section 1(c), (d), (f), and (g));
• locked and crossed market
infringements (in violation of BOX Rule
Chapter XII, Section 4);
• Market Maker assigned activity
violations (in violation of BOX Rule
Chapter VI, Section 4(e));
• Market Maker’s failure to respond
to a request for a quote within the
designated time limit (in violation of
BOX Rule Chapter VI, Section 6(b)(ii)–
(iii)); and
• trade-through violations (in
violation of BOX Rule Chapter XII,
Section 3(a)).
The sanctions imposed would include
the application of a fine for each
violation and an increased fine amount
for repeat violations. In the instance of
a trade-through violation, the rule
proposal would also allow BOX
Regulation to require the Options
Participant 4 to disgorge any gains from
transactions in violation of the tradethrough rules.
The Commission finds that the
proposed rule change is consistent with
the requirements of the Act and the
rules and regulations thereunder
applicable to a national securities
exchange.5 In particular, the
Commission believes that the proposal
is consistent with Section 6(b)(5) of the
Act,6 which requires that the rules of an
exchange be designed to promote just
and equitable principles of trade, to
remove impediments to and to perfect
the mechanism of a free and open
market and a national market system,
and, in general, to protect investors and
the public interest. The Commission
further believes that the proposal is
consistent with Sections 6(b)(1) and
6(b)(6) of the Act,7 which require that
the rules of an exchange enforce
compliance with, and provide
appropriate discipline for, violations of
Commission and Exchange rules. In
addition, because BSE Rule Chapter
3 See Securities Exchange Act Release No. 55373
(February 28, 2007), 72 FR 10276.
4 See BOX Rule Chapter I, Section 1(a)(40) for
definition of ‘‘Options Participants.’’
5 In approving this proposed rule change, the
Commission notes that it has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
6 15 U.S.C. 78f(b)(5).
7 15 U.S.C. 78f(b)(1) and 78f(b)(6).
E:\FR\FM\17APN1.SGM
17APN1
sroberts on PROD1PC70 with NOTICES
19222
Federal Register / Vol. 72, No. 73 / Tuesday, April 17, 2007 / Notices
XVIII provides procedural rights to
contest the fine imposed pursuant to the
BOX MRVP and permits disciplinary
proceedings on the matter, the
Commission believes that BOX Rule
Chapter X, as amended by this proposal,
provides a fair procedure for the
disciplining of members and persons
associated with members, consistent
with Sections 6(b)(7) and 6(d)(1) of the
Act.8
Finally, the Commission finds that the
proposal is consistent with the public
interest, the protection of investors, or
otherwise in furtherance of the purposes
of the Act, as required by Rule 19d–
1(c)(2) under the Act 9 which governs
minor rule violation plans. The
Commission believes that the proposed
rule change would strengthen the
Exchange’s ability to carry out its
oversight and enforcement
responsibilities as a self-regulatory
organization in cases where full
disciplinary proceedings are unsuitable
in view of the minor nature of the
particular violation.
In approving this proposed rule
change the Commission in no way
minimizes the importance of
compliance with BOX rules and all
other rules subject to the imposition of
fines under the BOX MRVP. The
Commission believes that the violation
of any self-regulatory organization’s
rules, as well as Commission rules, is a
serious matter. However, the BOX
MRVP provides a reasonable means of
addressing rule violations that do not
rise to the level of requiring formal
disciplinary proceedings, while
providing greater flexibility in handling
certain violations. The Commission
expects that BSE would continue to
conduct surveillance with due diligence
and make a determination based on its
findings, on a case-by-case basis,
whether a fine of more or less than the
recommended amount is appropriate for
a violation under the BOX MRVP or
whether a violation requires formal
disciplinary action under BSE Rule
Chapter XXX.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act 10 and Rule
19d–1(c)(2) under the Act,11 that the
proposed rule change (SR–BSE–2006–
11), as modified by Amendments No. 1
and 2, be, and hereby is, approved and
declared effective.
8 15
U.S.C. 78f(b)(7) and 78f(d)(1).
CFR 240.19d–1(c)(2).
10 15 U.S.C. 78s(b)(2).
11 17 CFR 240.19d–1(c)(2).
19:39 Apr 16, 2007
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55613; File No. SR–CHX–
2007–11]
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change and
Amendment No. 1 Thereto Relating to
Participant Fees and Credits
April 10, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on March 22,
2007, the Chicago Stock Exchange, Inc.
(‘‘CHX’’ 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 CHX. On
April 10, 2007, the CHX filed
Amendment No. 1 to the proposed rule
change. 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 CHX proposes to amend its
Schedule of Participant Fees and Credits
(the ‘‘Fee Schedule’’) to remove
provisions that are no longer in effect
due to the roll-out of the Exchange’s
new trading model. The text of this
proposed rule change is available at the
CHX, on the Exchange’s Web site at
https://www.chx.com/rules/
proposed_rules.htm, and in the
Commission’s Public Reference Room.
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
CHX included statements concerning
the purpose of, and basis for, the
proposed rule change and discussed any
comments it received on the proposed
12 17 CFR 200.30–3(a)(12); 17 CFR 200.30–
3(a)(44).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
9 17
VerDate Aug<31>2005
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–7225 Filed 4–16–07; 8:45 am]
Jkt 211001
PO 00000
Frm 00058
Fmt 4703
Sfmt 4703
rule change. The text of these statements
may be examined at the places specified
in Item IV below. The CHX 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
On January 26, 2007, the CHX
completed the transition to its new
trading model.3 The Exchange now
proposes to amend its Fee Schedule to
delete several provisions that are no
longer in effect as a result of that
transition. The provisions of the Fee
Schedule that would be deleted through
this filing include: (1) Section E(8)
(Transaction and Order Processing Fees
Associated with Securities Not Yet
Traded in the Matching System); (2)
Parts of Section F(2) (Institutional
Broker Credits); (3) Section F(4) (TwoSided Quote Providers); (4) Section L
(Space Charges); and (5) Section M
(Equipment, Information Services and
Technology Charges). Each of these
provisions currently contains an
introductory note confirming that it is
only in effect until the transition to the
new trading model or contains an
effective date that has been exceeded.4
Because of the transition to the new
trading model, these fees are no longer
in effect for the Exchange’s
participants.5
3 See Securities Exchange Act Release No. 54550
(September 29, 2006); 71 FR 59563 (October 10,
2006) (SR–CHX–2006–05) (approving rules for the
new trading model).
4 See, e.g., Section E(8) of the Fee Schedule
(confirming that ‘‘these fees will continue to be
charged as the Exchange transitions to its new
trading model, but will be eliminated as each issue
transitions to the new trading model’’); see also
Section F(4) of the Fee Schedule (noting that it is
in effect through October 31, 2006).
5 For example, an additional network/
connectivity fee credit was available to institutional
brokers until the completion of the new trading
model rollout. See Section F(2) of the Fee Schedule.
Similarly, with the transition to the new trading
model, the CHX no longer operates a physical
trading floor; as a result, the space and equipment
charges are no longer charged to participants
pursuant to the Fee Schedule, but are instead part
of separate agreements between the Exchange and
any firms that sublease space on the Exchange’s
former trading floor. See Sections L and M of the
Fee Schedule.
E:\FR\FM\17APN1.SGM
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]]>Agencies
[Federal Register Volume 72, Number 73 (Tuesday, April 17, 2007)]
[Notices]
[Pages 19221-19222]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-7225]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55606; File No. SR-BSE-2006-11]
Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Order
Approving Proposed Rule Change and Amendments No. 1 and 2 Relating to
the Boston Options Exchange's Minor Rule Violation Plan
April 10, 2007.
On March 6, 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
proposed rule change to amend Chapter X of the Boston Options Exchange
(``BOX'') Rules, BOX's minor rule violation plan (``BOX MRVP''). The
Exchange filed Amendments No. 1 and 2 to the proposed rule change on
June 28, 2006, and July 14, 2006, respectively. The proposed rule
change, as amended, was published for comment in the Federal Register
on March 7, 2007.\3\ The Commission received no comments regarding the
proposal. This order approves the proposed rule change, as modified by
Amendments No. 1 and 2.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 55373 (February 28,
2007), 72 FR 10276.
---------------------------------------------------------------------------
The Exchange proposed to make the following actions subject to the
BOX MRVP:
contrary exercise advice infractions (in violation of BOX
Rule Chapter VII, Section 1(c), (d), (f), and (g));
locked and crossed market infringements (in violation of
BOX Rule Chapter XII, Section 4);
Market Maker assigned activity violations (in violation of
BOX Rule Chapter VI, Section 4(e));
Market Maker's failure to respond to a request for a quote
within the designated time limit (in violation of BOX Rule Chapter VI,
Section 6(b)(ii)-(iii)); and
trade-through violations (in violation of BOX Rule Chapter
XII, Section 3(a)).
The sanctions imposed would include the application of a fine for
each violation and an increased fine amount for repeat violations. In
the instance of a trade-through violation, the rule proposal would also
allow BOX Regulation to require the Options Participant \4\ to disgorge
any gains from transactions in violation of the trade-through rules.
---------------------------------------------------------------------------
\4\ See BOX Rule Chapter I, Section 1(a)(40) for definition of
``Options Participants.''
---------------------------------------------------------------------------
The Commission finds that the proposed rule change is consistent
with the requirements of the Act and the rules and regulations
thereunder applicable to a national securities exchange.\5\ In
particular, the Commission believes that the proposal is consistent
with Section 6(b)(5) of the Act,\6\ which requires that the rules of an
exchange be designed to promote just and equitable principles of trade,
to remove impediments to and to perfect the mechanism of a free and
open market and a national market system, and, in general, to protect
investors and the public interest. The Commission further believes that
the proposal is consistent with Sections 6(b)(1) and 6(b)(6) of the
Act,\7\ which require that the rules of an exchange enforce compliance
with, and provide appropriate discipline for, violations of Commission
and Exchange rules. In addition, because BSE Rule Chapter
[[Page 19222]]
XVIII provides procedural rights to contest the fine imposed pursuant
to the BOX MRVP and permits disciplinary proceedings on the matter, the
Commission believes that BOX Rule Chapter X, as amended by this
proposal, provides a fair procedure for the disciplining of members and
persons associated with members, consistent with Sections 6(b)(7) and
6(d)(1) of the Act.\8\
---------------------------------------------------------------------------
\5\ In approving this proposed rule change, the Commission notes
that it has considered the proposed rule's impact on efficiency,
competition, and capital formation. See 15 U.S.C. 78c(f).
\6\ 15 U.S.C. 78f(b)(5).
\7\ 15 U.S.C. 78f(b)(1) and 78f(b)(6).
\8\ 15 U.S.C. 78f(b)(7) and 78f(d)(1).
---------------------------------------------------------------------------
Finally, the Commission finds that the proposal is consistent with
the public interest, the protection of investors, or otherwise in
furtherance of the purposes of the Act, as required by Rule 19d-1(c)(2)
under the Act \9\ which governs minor rule violation plans. The
Commission believes that the proposed rule change would strengthen the
Exchange's ability to carry out its oversight and enforcement
responsibilities as a self-regulatory organization in cases where full
disciplinary proceedings are unsuitable in view of the minor nature of
the particular violation.
---------------------------------------------------------------------------
\9\ 17 CFR 240.19d-1(c)(2).
---------------------------------------------------------------------------
In approving this proposed rule change the Commission in no way
minimizes the importance of compliance with BOX rules and all other
rules subject to the imposition of fines under the BOX MRVP. The
Commission believes that the violation of any self-regulatory
organization's rules, as well as Commission rules, is a serious matter.
However, the BOX MRVP provides a reasonable means of addressing rule
violations that do not rise to the level of requiring formal
disciplinary proceedings, while providing greater flexibility in
handling certain violations. The Commission expects that BSE would
continue to conduct surveillance with due diligence and make a
determination based on its findings, on a case-by-case basis, whether a
fine of more or less than the recommended amount is appropriate for a
violation under the BOX MRVP or whether a violation requires formal
disciplinary action under BSE Rule Chapter XXX.
It is therefore ordered, pursuant to Section 19(b)(2) of the Act
\10\ and Rule 19d-1(c)(2) under the Act,\11\ that the proposed rule
change (SR-BSE-2006-11), as modified by Amendments No. 1 and 2, be, and
hereby is, approved and declared effective.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(2).
\11\ 17 CFR 240.19d-1(c)(2).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(12); 17 CFR 200.30-3(a)(44).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-7225 Filed 4-16-07; 8:45 am]
BILLING CODE 8010-01-P
