In the Matter of Global 1 Investment Holdings Corporation, Respondent; Order of Suspension of Trading, 6068-6069 [E9-2448]

Download as PDF 6068 Federal Register / Vol. 74, No. 22 / Wednesday, February 4, 2009 / Notices OIRA_DOCKET@omb.eop.gov or by fax to (202) 395–6974. Copies of the collection of information may also be obtained without charge by writing to the Disclosure Division of the Office of the General Counsel of PBGC at the above address or by visiting the Disclosure Division or calling 202–326–4040 during normal business hours. (TTY and TDD users may call the Federal relay service toll-free at 1–800–877–8339 and ask to be connected to 202–326–4040.) The Disclosure Division will e-mail, fax, or mail the requested information to you, as you request. FOR FURTHER INFORMATION CONTACT: Thomas H. Gabriel, Attorney, or Catherine B. Klion, Manager, Regulatory and Policy Division, Legislative and Regulatory Department, Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005–4026, 202– 326–4024. (For TTY/TDD users, call the Federal relay service toll-free at 1–800– 877–8339 and ask to be connected to 202–326–4024.) SUPPLEMENTARY INFORMATION: PBGC’s regulations prescribe actuarial valuation methods and assumptions (including interest rate assumptions) to be used in determining the actuarial present value of benefits under single-employer plans that terminate (29 CFR part 4044) and under multiemployer plans that undergo a mass withdrawal of contributing employers (29 CFR part 4281). Each month PBGC publishes the interest rates to be used under those regulations for plans terminating or undergoing mass withdrawal during the next month. The interest rates are intended to reflect current conditions in the investment and annuity markets. To determine these interest rates, PBGC gathers pricing data from insurance companies that are providing annuity contracts to terminating pension plans through a quarterly ‘‘Survey of Nonparticipating Single Premium Group Annuity Rates.’’ The survey is distributed by the American Council of Life Insurers and provides PBGC with ‘‘blind’’ data (i.e., is conducted in such a way that PBGC is unable to match responses with the companies that submitted them). The information from the survey is also used by PBGC in determining the interest rates it uses to value benefits payable to participants and beneficiaries in PBGC-trusteed plans for purposes of PBGC’s financial statements. The survey is directed at insurance companies that have volunteered to participate, most or all of which are members of the American Council of VerDate Nov<24>2008 14:33 Feb 03, 2009 Jkt 217001 Life Insurers. The survey is conducted quarterly and will be sent to approximately 22 insurance companies. Based on experience under the current approval, PBGC estimates that 6 insurance companies will complete and return the survey. PBGC further estimates that the average annual burden of this collection of information is 26 hours and $138. The collection of information has been approved by OMB under control number 1212–0030 through March 31, 2009. PBGC is requesting that OMB extend its approval for another three years. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. Issued in Washington, DC, this 29th day of January, 2009. John H. Hanley, Director, Legislative and Regulatory Department, Pension Benefit Guaranty Corporation. [FR Doc. E9–2468 Filed 2–3–09; 8:45 am] BILLING CODE 7709–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold a Closed Meeting on Wednesday, February 4, 2009 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters also may be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), (8), 9(B) and (10) and 17 CFR 200.402(a)(3), (5), (7), (8), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Casey, as duty officer, voted to consider the items listed for the Closed Meeting in closed session, and determined that no earlier notice thereof was possible. The subject matter of the Closed Meeting scheduled for Wednesday, February 4, 2009 will be: Formal orders of investigation; Institution and settlement of injunctive actions; PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 Institution and settlement of administrative proceedings of an enforcement nature; Resolution of litigation claims; A regulatory matter regarding a financial institution; and Other matters relating 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: January 30, 2009. Florence E. Harmon, Deputy Secretary. [FR Doc. E9–2333 Filed 2–3–09; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Global 1 Investment Holdings Corporation, Respondent; Order of Suspension of Trading February 2, 2009. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Global 1 Investment Holdings Corporation (‘‘Global’’) because Global is delinquent in filing periodic reports with the Commission and because of questions regarding the accuracy and completeness of Global’s representations to investors and prospective investors in Global’s public filings with the Commission and Global’s publicly-available press releases. Among other things, there are questions regarding the accuracy and completeness of Global’s public assertions in its Form 10–QSB report purportedly for the quarter ended December 31, 2007, filed with the Commission on February 14, 2008, indicating by way of example that Global has created $500 million to be used as collateral in structured credit transactions and that Global has the current ability and expertise to develop and produce small feature films and videos for a direct to the consumer distribution model. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in Global’s securities. Therefore, It Is Ordered, pursuant to Section 12(k) of the Securities Exchange E:\FR\FM\04FEN1.SGM 04FEN1 Federal Register / Vol. 74, No. 22 / Wednesday, February 4, 2009 / Notices Act of 1934, that trading in the above listed company is suspended for the period from 9:30 a.m. EST on February 2, 2009, through 11:59 p.m. EST on February 13, 2009. By the Commission. J. Lynn Taylor, Assistant Secretary. [FR Doc. E9–2448 Filed 2–2–09; 11:15 am] A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change BILLING CODE 8011–01–P 1. Purpose SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59307; File No. SR–BX– 2009–005] Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing of Proposed Rule Change To Establish New Fees for Services Available to Members and Non-Members January 28, 2009. 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 January 14, 2009, NASDAQ OMX BX, Inc. (‘‘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 prepared by the Exchange. 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 The Exchange proposes to adopt fees applicable to members and nonmembers in connection with the resumption of its cash equities trading business. The text of the proposed rule change is available from the principal office of the Exchange and from the Commission, and is also available at https://www.nasdaqtrader.com/ Trader.aspx?id=BSEPendingRules. The Exchange proposes to implement the proposed rule change as soon as practicable following Commission approval. 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 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Nov<24>2008 14:33 Feb 03, 2009 Jkt 217001 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. On August 29, 2008, the Exchange was acquired by The NASDAQ OMX Group, Inc. (‘‘NASDAQ OMX’’). At the time of this acquisition, the Exchange was not operating a venue for trading cash equities. Pursuant to SR–BSE– 2008–48, the Exchange has adopted a new rulebook with rules governing membership, the regulatory obligations of members, listing, and equities trading.3 The new rules, which are designated as the ‘‘Equity Rules,’’ are based to a substantial extent on the rules of The NASDAQ Stock Market LLC (the ‘‘NASDAQ Exchange’’). The Equity Rules leave in effect the Exchange’s preexisting rules (the ‘‘Options Rules’’) for the purpose of governing trading on the Exchange’s Boston Options Exchange facility (‘‘BOX’’). In addition, in SR–BX– 2009–004, which was immediately effective pursuant to Section 19(b)(3)(A) of the Act,4 the Exchange adopted new fees applicable solely to its members. In this filing, the Exchange is proposing new fees to be charged to members and non-members in connection with the resumption of its cash equities trading business. The fee schedules are structurally similar to those of the NASDAQ Exchange, but with the omission of many fees that are not pertinent to the Exchange’s planned business and with several differences in the level of certain fees. Market Data The Exchange proposes to establish fees for its BX TotalView data product. Like NASDAQ TotalView, BX TotalView will provide all displayed quotes and orders in the market, with attribution to the relevant market participant, at every price level, as well as total displayed anonymous interest at every price level. In recognition of the start-up nature of the new market, the data feed will be provided free of charge to subscribers and distributors for the first year of operation. After the initial free period, subscribers to BX TotalView will pay a monthly charge of $20; however, new subscribers receiving BX TotalView for the first time after the expiration of the one-year introductory period will be able to use the product free of charge for an individual 30-day trial period.5 Distributors of BX TotalView will pay a $1,000 monthly fee to receive the data directly from the Exchange, since the Exchange incurs costs to support the connection to each direct distributor; indirect distributors (i.e., those receiving data from a direct distributor) would not pay this charge.6 Distributors will also pay a $500 monthly fee to distribute the data feed internally (i.e., to employees) and a $1,250 monthly fee to distribute to external customers.7 All of the foregoing fees will be waived during the initial free period. Upon approval of this filing, however, the Exchange will begin to assess a limited number of fees in connection with data provision. Specifically, extranet providers that connect to the Exchange to provide direct access connectivity to market data will be charged a monthly access fee of $750 for each technical configuration used to provide a connection to a recipient’s site.8 In addition, data distributors will pay an annual administrative fee of $500 for delayed distribution of data, and $1,000 for real-time distribution.9 The foregoing fee structure is similar to the structure for NASDAQ TotalView, but the overall level of fees will be lower than for NASDAQ TotalView. These fee levels reflect the start-up nature of the Exchange’s new equities trading platform, and will help to promote competition among exchanges with respect to the quoting and trading services. Specifically, the Exchange believes that the fees it sets for BX TotalView will help to attract order flow to the Exchange. At inception, the Exchange will have zero market share and therefore must set its fees, including data fees, with a view to attracting order flow. Moreover, the alternatives that exist for market participants to determine market depth—such as other depth of book products that may be associated with markets with more liquidity, or order routing strategies designed to ascertain market depth— provide incentives for the Exchange to 5 See 6 See proposed Equity Rule 7023. proposed Equity Rule 7019. 7 Id. 8 See 3 Securities Exchange Act Release No. 59154 (December 23, 2008), 73 FR 80468 (SR–BSE–2008– 48). 4 15 U.S.C. 78s(b)(3)(A). PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 6069 proposed Equity Rule 7025. proposed Equity Rule 7035. These annual administrative fees can be waived for colleges and universities receiving the data for research and educational purposes. 9 See E:\FR\FM\04FEN1.SGM 04FEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 74, Number 22 (Wednesday, February 4, 2009)]
[Notices]
[Pages 6068-6069]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-2448]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Global 1 Investment Holdings Corporation, 
Respondent; Order of Suspension of Trading

February 2, 2009.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Global 1 Investment Holdings Corporation (``Global'') because Global is 
delinquent in filing periodic reports with the Commission and because 
of questions regarding the accuracy and completeness of Global's 
representations to investors and prospective investors in Global's 
public filings with the Commission and Global's publicly-available 
press releases. Among other things, there are questions regarding the 
accuracy and completeness of Global's public assertions in its Form 10-
QSB report purportedly for the quarter ended December 31, 2007, filed 
with the Commission on February 14, 2008, indicating by way of example 
that Global has created $500 million to be used as collateral in 
structured credit transactions and that Global has the current ability 
and expertise to develop and produce small feature films and videos for 
a direct to the consumer distribution model.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in Global's 
securities.
    Therefore, It Is Ordered, pursuant to Section 12(k) of the 
Securities Exchange

[[Page 6069]]

Act of 1934, that trading in the above listed company is suspended for 
the period from 9:30 a.m. EST on February 2, 2009, through 11:59 p.m. 
EST on February 13, 2009.

    By the Commission.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E9-2448 Filed 2-2-09; 11:15 am]
BILLING CODE 8011-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.