In the Matter of Certain Companies Quoted on the Pink Sheets: Asia Pacific Energy Inc.; Bolivar Mining Corp; Order of Suspension of Trading, 4931 [08-359]

Download as PDF Federal Register / Vol. 73, No. 18 / Monday, January 28, 2008 / Notices For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Florence E. Harmon, Deputy Secretary. [FR Doc. E8–1374 Filed 1–25–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–57186; File No. SR– NYSEArca–2007–121] Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting Approval of Proposed Rule Change Relating to Rule 6.37B and the Quoting Obligations of Lead Market Makers January 22, 2008. mstockstill on PROD1PC66 with NOTICES On November 27, 2007, NYSE Arca, Inc. (‘‘NYSE Arca’’ 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 modify the continuous quoting obligation of Lead Market Makers (‘‘LMMs’’). The proposed rule change was published for comment in the Federal Register on December 12, 2007.3 The Commission received no comments on the proposed rule change. This order approves the proposed rule change. NYSE Arca proposes to amend its Rule 6.37B to reduce the continuous quoting obligation of LMMs. Currently, an LMM must provide continuous twosided quotations throughout the trading day in its appointed issues for 99% of the time the Exchange is open for trading in each issue.4 NYSE Arca proposes to reduce the continuous quoting obligation of LMMs to 90% of the time the Exchange is open for trading in each appointed issue. The Exchange proposes that any period in which a technical failure or limitation of a system of the Exchange prevents an LMM from maintaining, or prevents an LMM from communicating to the Exchange, timely and accurate electronic quotes in a class shall not be considered in determining whether an LLM has satisfied the 90% quoting standard with respect to that option class. The Exchange also proposes that it may consider other exceptions to the continuous quoting obligation based on 9 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 56908 (December 5, 2007), 72 FR 70639. 4 See NYSE Arca Rule 6.37B(b). 1 15 VerDate Aug<31>2005 17:56 Jan 25, 2008 Jkt 214001 demonstrated legal or regulatory requirements or other mitigating circumstances. In addition, the Exchange proposes to amend the review period for this continuous quoting obligation from a quarterly basis to a monthly basis. The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange.5 In particular, the Commission believes that the proposed rule change is consistent with section 6(b)(5) of the Act,6 in that it is designed to promote just and equitable principles of trade, to remove impediments to and 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 believes that the Exchange’s proposal to reduce the continuous quoting obligation of LMMs is appropriate given the benefits afforded to LMMs.7 It is therefore ordered, pursuant to section 19(b)(2) of the Act,8 that the proposed rule change (SR–NYSEArca– 2007–121) be, and it hereby is, approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Florence E. Harmon, Deputy Secretary. [FR Doc. E8–1395 Filed 1–25–08; 8:45 am] BILLING CODE 8011–01–P 5 In approving this rule, 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 In addition, the Commission notes that all NYSE Arca Market Makers have a minimum continuous quoting obligation. NYSE Arca Rule 6.37B(c) states that a Market Maker must provide continuous two sided quotations throughout the trading day in its appointed issues for 60% of the time the Exchange is open for trading in each issue. In addition, the Commission notes that NYSE Arca Rule 6.37B(d), which states that in the interest of maintaining a fair and orderly market, a Market Maker may be called upon by a Trading Official to maintain continuous quotes in one or more series of an option issue, shall continue to apply. 8 15 U.S.C. 78s(b)(2). 9 17 CFR 200.30–3(a)(12). PO 00000 Frm 00165 Fmt 4703 Sfmt 4703 4931 SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Certain Companies Quoted on the Pink Sheets: Asia Pacific Energy Inc.; Bolivar Mining Corp; Order of Suspension of Trading January 24, 2008. 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’ current financial condition, (2) the companies’ management, (3) the companies’ business operations, and/or (4) stock promoting activity. 1. Asia Pacific Energy Inc. is a Nevada company with offices in Richmond Hill, Ontario, Canada. Questions have arisen regarding the adequacy and accuracy of statements on the company’s Web site concerning the company’s management, operations, current financial condition, transactions involving the issuance of the company’s shares, and concerning stock promoting activity. 2. Bolivar Mining Corp. is a Nevada 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, operations, management, 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. EST on January 24, 2008, through 11:59 p.m. EST, on February 6, 2008. By the Commission. Nancy M. Morris, Secretary. [FR Doc. 08–359 Filed 1–24–08; 10:26 am] BILLING CODE 8011–01–P UNITED STATES SENTENCING COMMISSION Sentencing Guidelines for United States Courts United States Sentencing Commission. AGENCY: E:\FR\FM\28JAN1.SGM 28JAN1

Agencies

[Federal Register Volume 73, Number 18 (Monday, January 28, 2008)]
[Notices]
[Page 4931]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 08-359]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Certain Companies Quoted on the Pink Sheets: 
Asia Pacific Energy Inc.; Bolivar Mining Corp; Order of Suspension of 
Trading

January 24, 2008.
    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' current financial condition, (2) the companies' management, 
(3) the companies' business operations, and/or (4) stock promoting 
activity.
    1. Asia Pacific Energy Inc. is a Nevada company with offices in 
Richmond Hill, Ontario, Canada. Questions have arisen regarding the 
adequacy and accuracy of statements on the company's Web site 
concerning the company's management, operations, current financial 
condition, transactions involving the issuance of the company's shares, 
and concerning stock promoting activity.
    2. Bolivar Mining Corp. is a Nevada 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, operations, management, 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. EST 
on January 24, 2008, through 11:59 p.m. EST, on February 6, 2008.

    By the Commission.
Nancy M. Morris,
Secretary.
[FR Doc. 08-359 Filed 1-24-08; 10:26 am]
BILLING CODE 8011-01-P