In the Matter of Typhoon Touch Technologies, Inc.; Order of Suspension of Trading, 42648 [08-1460]

Download as PDF 42648 Federal Register / Vol. 73, No. 141 / Tuesday, July 22, 2008 / Notices sroberts on PROD1PC70 with NOTICES fund shares deposited by OCC members as margin in the daily STANS risk calculation is consistent with the purpose of the methodology, which is to provide an accurate measure of the market risk in a clearing member’s account. The proposed rule change also amends OCC’s rules regarding the calculation of concentration limits and collateral substitution to allow OCC to more easily implement the inclusion of margin deposits in the STANS calculation. As noted above, OCC expects to collect approximately 5 percent less margin under the proposed rule change than it currently collects. However, this is because of the increased diversification benefit allowed by the risk measurement under STANS and not because of a decrease in OCC’s risk tolerance in calculating margin. Accordingly, because the proposed rule change should not affect the purpose of the STANS methodology to provide OCC with sufficient collateral in the event a member becomes insolvent or otherwise fails to meet its obligations to OCC, it should assure the safeguarding of securities and funds which are in OCC’s custody or control or for which it is responsible. The proposed rule change also adds an exception to the collateral minimum price and concentration limits in OCC’s rules for securities that are deliverable upon exercise of a contract cleared by OCC or, in the case of ETFs, that track an index underlying cleared contracts whether or not the particular ETF is an underlying security. The minimum price and concentration limits in OCC’s rules are designed to assure that OCC will be able to collect sufficient collateral in the event it needs to liquidate securities deposited as margin. This type of liquidity risk should not apply if the security deposited as margin is deliverable upon exercise of the clearing member’s cleared contracts or if the security is an exchange traded fund that tracks an index underlying the clearing member’s cleared contracts. Accordingly, the proposed rule change to add this exception to the collateral minimum price and concentration limits should not affect OCC’s ability to assure the safeguarding of securities and funds which are in OCC’s custody or control or for which it is responsible. IV. Conclusion 20:53 Jul 21, 2008 By the Commission. Jill M. Peterson, Assistant Secretary. [FR Doc. 08–1460 Filed 7–18–08; 1:25 pm] For the Commission by the Division of Trading and Markets, pursuant to delegated authority.7 Florence E. Harmon, Acting Secretary. [FR Doc. E8–16687 Filed 7–21–08; 8:45 am] SMALL BUSINESS ADMINISTRATION BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Typhoon Touch Technologies, Inc.; Order of Suspension of Trading July 18, 2008. It appears to the Securities and Exchange Commission that the public interest and the protection of investors require a suspension of trading in the securities of Typhoon Touch Technologies, Inc., because there is a lack of current and accurate information concerning its securities. Questions have arisen regarding a recent increase in the share price from $8 to $25 following a 100 for one forward split and during a period when no material information about the company would explain such a price increase. Also, questions have been raised about the accuracy and adequacy of publiclydisseminated information concerning, among other things, the availability of shares for trading and delivery, and the current shareholders of the company. Typhoon Touch Technologies, Inc., is quoted on the Pink Sheets and the Over the Counter Bulletin Board under the ticker symbol TYTT. The Commission is of the opinion that the public interest and the protection of the investors require a suspension of trading in 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 9:30 a.m. EDT, July 18, 2008, through 11:59 p.m. EDT, on July 31, 2008. BILLING CODE 8010–01–P [Disaster Declaration #11264 and #11265] Iowa Disaster Number IA–00015 U.S. Small Business Administration. ACTION: Amendment 8. AGENCY: SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of Iowa (FEMA– 1763–DR), dated 05/27/2008. Incident: Severe Storms, Tornadoes, and Flooding. Incident Period: 05/25/2008 and continuing. Effective Date: 07/15/2008. Physical Loan Application Deadline Date: 09/29/2008. EIDL Loan Application Deadline Date: 02/27/2009. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster declaration for the State of Iowa, dated 05/27/2008, is hereby amended to extend the deadline for filing applications for physical damages as a result of this disaster to 09/29/2008. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E8–16680 Filed 7–21–08; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION Small Business Size Standards: Waiver of the Nonmanufacturer Rule U.S. Small Business Administration. ACTION: Notice of Retraction or Reclassification of Waivers from the Nonmanufacturer Rule for Industry AGENCY: On the basis of the foregoing, the Commission finds that the proposed rule change is consistent with the requirements of the Act and in VerDate Aug<31>2005 particular Section 17A of the Act and the rules and regulations thereunder.6 It is therefore ordered, pursuant to Section 19(b)(2) of the Act, that the proposed rule change (File No. SR– OCC–2007–20) be and hereby is approved. Jkt 214001 6 In approving the proposed rule change, the Commission considered the proposal’s impact on efficiency, competition and capital formation. 15 U.S.C. 78c(f). 7 17 CFR 200.30–3(a)(12). PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 E:\FR\FM\22JYN1.SGM 22JYN1

Agencies

[Federal Register Volume 73, Number 141 (Tuesday, July 22, 2008)]
[Notices]
[Page 42648]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 08-1460]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Typhoon Touch Technologies, Inc.; Order of 
Suspension of Trading

July 18, 2008.
    It appears to the Securities and Exchange Commission that the 
public interest and the protection of investors require a suspension of 
trading in the securities of Typhoon Touch Technologies, Inc., because 
there is a lack of current and accurate information concerning its 
securities. Questions have arisen regarding a recent increase in the 
share price from $8 to $25 following a 100 for one forward split and 
during a period when no material information about the company would 
explain such a price increase. Also, questions have been raised about 
the accuracy and adequacy of publicly-disseminated information 
concerning, among other things, the availability of shares for trading 
and delivery, and the current shareholders of the company. Typhoon 
Touch Technologies, Inc., is quoted on the Pink Sheets and the Over the 
Counter Bulletin Board under the ticker symbol TYTT.
    The Commission is of the opinion that the public interest and the 
protection of the investors require a suspension of trading in 
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 9:30 a.m. EDT, July 18, 2008, 
through 11:59 p.m. EDT, on July 31, 2008.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 08-1460 Filed 7-18-08; 1:25 pm]
BILLING CODE 8010-01-P