In the Matter of International Business Ventures Group, Inc.; File No. 500-1; Order of Suspension of Trading, 10317 [E9-5169]

Download as PDF Federal Register / Vol. 74, No. 45 / Tuesday, March 10, 2009 / Notices EXEMPTIONS CLAIMED FOR THE SYSTEM: None. [FR Doc. Z8–31458 Filed 3–9–09; 8:45 am] BILLING CODE 1505–01–D SECURITIES AND EXCHANGE COMMISSION In the Matter of International Business Ventures Group, Inc.; File No. 500–1; Order of Suspension of Trading March 6, 2009. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of International Business Ventures Group, Inc. (‘‘IBVG’’) because of questions regarding the accuracy of assertions by IBVG, and by others, of publicly disseminated information concerning, among other things, IBVG’s products and business prospects. 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 securities in the above listed company is suspended for the period from 9:30 a.m. EST, March 6, 2009 through 11:59 p.m. EDT, on March 19, 2009. By the Commission. J. Lynn Taylor, Assistant Secretary. [FR Doc. E9–5169 Filed 3–6–09; 4:15 pm] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59484; File No. SR–FINRA– 2009–006] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change Relating to a New Limited Representative Registration Category for Investment Banking Professionals March 2, 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 February 17, 2009, Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) (f/k/a National Association of Securities U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 15:20 Mar 09, 2009 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to establish NASD Rule 1032(i), a new limited representative registration category for investment banking professionals. The proposed rule change also sets forth the registration requirements for principals who supervise investment banking activities. The text of the proposed rule change is available on FINRA’s Web site at https://www.finra.org, at the principal office of FINRA and at 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. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Section 15A(g)(3) of the Act 4 requires FINRA to prescribe standards of training, experience, and competence for persons associated with FINRA members. In accordance with that provision, FINRA has developed examinations, and administers examinations developed by other selfregulatory organizations, that are designed to establish that persons associated with FINRA members have attained specified levels of competence and knowledge. NASD Rule 1031 requires that each person associated with a member who 3 Amendment No. 1 to SR–FINRA–2009–006 replaced and superseded the original rule filing. 4 15 U.S.C. 78o–3(g)(3). 1 15 VerDate Nov<24>2008 Dealers, Inc. (‘‘NASD’’)) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’), and amended on February 27, 2009,3 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, as amended, from interested persons. Jkt 217001 PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 10317 functions as a representative must be registered in a category appropriate to the function that person performs. The rule defines a ‘‘representative’’ as, among others, a person associated with a member who is ‘‘engaged in the investment banking or securities business for the member including the functions of supervision, solicitation or conduct of business in securities or who [is] engaged in the training of persons associated with a member for any of these functions.’’ Pursuant to NASD Rule 1032, a person who functions as a registered representative must pass the General Securities Representative (Series 7) examination or certain equivalent examinations, unless such person’s activities are so limited as to qualify him or her for a limited representative category for which a more dedicated examination is prescribed. The proposed rule change would create a new limited representative category—Limited Representative— Investment Banking—for persons whose activities are limited to investment banking, including those who work on the equity and debt capital markets and syndicate desks. More specifically, the proposed registration category would encompass those associated persons whose activities primarily involve: (1) Advising on or facilitating debt or equity securities offerings through a private placement or a public offering, including but not limited to origination, underwriting, marketing, structuring, syndication, and pricing of such securities and managing the allocation and stabilization activities of such offerings, or (2) advising on or facilitating mergers and acquisitions, tender offers, financial restructurings, asset sales, divestitures or other corporate reorganizations or business combination transactions, including but not limited to rendering a fairness, solvency or similar opinion. The proposed registration category would not cover individuals whose investment banking work is limited to public (municipal) finance offerings or direct participation program offerings as defined in NASD Rule 1022(e)(2). The proposed registration category further would not cover individuals whose investment banking work is limited to effecting private securities offerings as defined in NASD Rule 1032(h)(1)(A). FINRA is in the process of developing an accompanying qualification examination that will provide a more targeted assessment of the job functions performed by the individuals that would fall within the proposed E:\FR\FM\10MRN1.SGM 10MRN1

Agencies

[Federal Register Volume 74, Number 45 (Tuesday, March 10, 2009)]
[Notices]
[Page 10317]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-5169]


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SECURITIES AND EXCHANGE COMMISSION


In the Matter of International Business Ventures Group, Inc.; 
File No. 500-1; Order of Suspension of Trading

March 6, 2009.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
International Business Ventures Group, Inc. (``IBVG'') because of 
questions regarding the accuracy of assertions by IBVG, and by others, 
of publicly disseminated information concerning, among other things, 
IBVG's products and business prospects.
    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 securities in the 
above listed company is suspended for the period from 9:30 a.m. EST, 
March 6, 2009 through 11:59 p.m. EDT, on March 19, 2009.

    By the Commission.
J. Lynn Taylor,
Assistant Secretary.
 [FR Doc. E9-5169 Filed 3-6-09; 4:15 pm]
BILLING CODE 8011-01-P
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