In the Matter of Evolution Global Capital Partners, Inc.; Order of Suspension of Trading, 54698 [07-4760]

Download as PDF 54698 Federal Register / Vol. 72, No. 186 / Wednesday, September 26, 2007 / Notices 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 of 9:30 a.m. EDT, September 24, 2007 through 11:59 p.m. EDT, on October 5, 2007. By the Commission. Nancy M. Morris, Secretary. [FR Doc. 07–4759 Filed 9–24–07; 1:11 pm] BILLING CODE 8010–01–M [File No. 500–1] In the Matter of Evolution Global Capital Partners, Inc.; Order of Suspension of Trading September 24, 2007. mstockstill on PROD1PC66 with NOTICES It appears to the Securities and Exchange Commission that the market for the securities of Evolution Global Capital Partners, Inc. (‘‘Evolution,’’ trading symbol EGCA), may be reacting to manipulative forces or deceptive practices and that there is insufficient current public information about the issuer upon which an informed investment decision may be made, particularly concerning (1) The identity of and prior securities fraud judgments against persons who appear to be involved in the offer and sale, or in connection with the purchase or sale, of Evolution shares; (2) the financial performance and business prospects of Evolution; and (3) offerings to foreign investors and any restrictions on the resale of shares. 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 of 9:30 a.m. EDT, September 24, 2007 through 11:59 p.m. EDT, on October 5, 2007. BILLING CODE 8010–01–P [Release No. 34–56480; File No. SR–FINRA– 2007–011] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change To Amend NASD Rule 2711 and NYSE Rule 472 Regarding a Member’s Disclosure and Supervisory Review Obligations When Distributing Third-Party Research September 20, 2007. SECURITIES AND EXCHANGE COMMISSION By the Commission. Nancy M. Morris, Secretary. [FR Doc. 07–4760 Filed 9–24–07; 1:11 pm] SECURITIES AND EXCHANGE COMMISSION 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 September 12, 2007, Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) (f/k/a National Association of Securities Dealers, Inc. (‘‘NASD’’)) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by FINRA. 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 FINRA is proposing to amend NASD Rule 2711 and NYSE Rule 472 with respect to a member’s disclosure and supervisory review obligations when it distributes or makes available thirdparty research reports. The text of the proposed rule change is available at FINRA, on FINRA’s Web site at http://www.finra.org, 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, FINRA 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. FINRA has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements.3 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 The Commission has modified parts of these statements. 2 17 VerDate Aug<31>2005 17:57 Sep 25, 2007 Jkt 211001 PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose NASD Rule 2711(h)(13) and NYSE Rule 472(k)(4) set forth a member’s disclosure and supervisory review obligations when the member distributes—i.e., ‘‘pushes out’’—or makes available a research report produced by a third party. A member that distributes a third-party research report must accompany the report with certain current applicable disclosures (‘‘third-party disclosures’’), as they pertain to the member: (1) If the member owns 1% or more of any class of equity securities of the subject company; (2) if the member or any affiliate has managed or co-managed a public offering of securities of the subject company or received compensation for investment banking services from the subject company in the past 12 months, or expects to receive or intends to seek compensation for such services in the next three months; (3) if the member makes a market in the subject company’s securities; and (4) any other actual, material conflict of interest of the research analyst or member of which the research analyst knows or has reason to know at the time the research report is distributed or made available. The thirdparty disclosure requirements do not apply if a member makes available to its customers non-affiliate research either upon request or through a membermaintained Web site. NASD Rule 2711(h)(13) further requires that a registered principal (or supervisory analyst approved pursuant to Rule 344 of the New York Stock Exchange) must review and approve by signature or initial any third-party research distributed by a member. Consistent with NASD Rule 2210(d)(1)(B), the member must review such research to ensure that the applicable disclosures discussed above are complete and accurate (‘‘disclosure review’’) and the content of the research reports contains no untrue statement of material fact or is otherwise not false or misleading (‘‘content review’’). Similarly, NYSE Rule 472(k)(4) requires a supervisory analyst approved pursuant to New York Stock Exchange Rule 344 to approve by signature or initial any third-party research distributed by a member organization. Additionally, NYSE Rule 472(k)(4) requires a supervisory analyst or qualified person, designated pursuant to NYSE Rule 342(b)(1), to conduct the same disclosure and content review as NASD Rule 2711(h)(13). E:\FR\FM\26SEN1.SGM 26SEN1

Agencies

[Federal Register Volume 72, Number 186 (Wednesday, September 26, 2007)]
[Notices]
[Page 54698]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 07-4760]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Evolution Global Capital Partners, Inc.; Order 
of Suspension of Trading

September 24, 2007.
    It appears to the Securities and Exchange Commission that the 
market for the securities of Evolution Global Capital Partners, Inc. 
(``Evolution,'' trading symbol EGCA), may be reacting to manipulative 
forces or deceptive practices and that there is insufficient current 
public information about the issuer upon which an informed investment 
decision may be made, particularly concerning (1) The identity of and 
prior securities fraud judgments against persons who appear to be 
involved in the offer and sale, or in connection with the purchase or 
sale, of Evolution shares; (2) the financial performance and business 
prospects of Evolution; and (3) offerings to foreign investors and any 
restrictions on the resale of shares.
    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 of 9:30 a.m. EDT, September 24, 
2007 through 11:59 p.m. EDT, on October 5, 2007.

    By the Commission.
Nancy M. Morris,
Secretary.
[FR Doc. 07-4760 Filed 9-24-07; 1:11 pm]
BILLING CODE 8010-01-P