In the Matter of Wade Cook Financial Corp., Warning Management Services, Inc., Weldotron Corp., Western Microwave, Inc., Wickes, Inc., Worldwide Technologies, Inc., and Worldwide Xceed Group, Inc. (n/k/a Liquidating WXG, Inc.); Order of Suspension of Trading, 21729-21730 [E9-10933]
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Federal Register / Vol. 74, No. 88 / Friday, May 8, 2009 / Notices
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon written request, copies available
from: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
hsrobinson on PROD1PC76 with NOTICES
Extension: Rule 27f-1 and Form N–27F–1,
SEC File No. 270–487, OMB Control No.
3235–0546.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission (the
‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Section 27(f) of the Investment
Company Act of 1940 (‘‘Act’’) (15 U.S.C.
80a–27(f)) provides that ‘‘[w]ith respect
to any periodic payment plan (other
than a plan under which the amount of
sales load deducted from any payment
thereon does not exceed 9 per centum
of such payment), the custodian bank
for such plan shall mail to each
certificate holder, within sixty days after
the issuance of the certificate, a
statement of charges to be deducted
from the projected payments on the
certificate and a notice of his right of
withdrawal as specified in this
section.’’ 1 The certificate holder then
has forty-five days from the mailing of
the notice to surrender his or her
certificate and receive ‘‘in payment
thereof, in cash, the sum of (1) the value
of his account, and (2) an amount, from
the underwriter or depositor, equal to
the difference between the gross
payments made and the net amount
invested.’’
Section 27(f) authorizes the Securities
and Exchange Commission
(‘‘Commission’’) to ‘‘make rules
specifying the method, form, and
contents of the notice required by this
subsection.’’ Rule 27f–1 (17 CFR
270.27f–1) under the Act, entitled
‘‘Notice of Right of Withdrawal
Required to be Mailed to Periodic
Payment Plan Certificate Holders and
Exemption from Section 27(f) for
Certain Periodic Payment Plan
Certificates,’’ provides instructions for
the delivery of the notice required by
section 27(f).
1 As discussed below, the Military Personnel
Financial Services Protection Act banned the
issuance or sale of new periodic payment plans,
effective October 2006.
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19:00 May 07, 2009
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Rule 27f–1(d) prescribes Form N–
27F–1 (17 CFR 274.127f–1), which sets
forth the language that custodian banks
for periodic payment plans must use in
informing certificate holders of their
withdrawal right pursuant to section
27(f). The instructions to the form
provide that the notice must be on the
sender’s letterhead. The Commission
does not receive a copy of the form N–
27F–1 notice.
The Form N–27F–1 notice informs
certificate holders of their rights in
connection with the certificates they
hold. Specifically, it is intended to
encourage new purchasers of plan
certificates to reassess the costs and
benefits of their investment and to
provide them with an opportunity to
recover their initial investment without
penalty. The disclosure assists
certificate holders in making careful and
fully informed decisions about whether
to invest in periodic payment plan
certificates.
Complying with the collection of
information requirements of rule 27f–1
is mandatory for custodian banks of
periodic payment plans for which the
sales load deducted from any payment
exceeds 9 percent of the payment.2 The
information provided pursuant to rule
27f–1 will be provided to third parties
and, therefore, will not be kept
confidential. 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 control number.
Effective October 27, 2006, the
Military Personnel Financial Services
Protection Act banned the issuance or
sale of new periodic payment plans.
Accordingly, the staff estimates that
there is no information collection
burden associated with rule 27f–1 and
Form N–27F–1. For administrative
purposes, however, we are requesting
approval for an information collection
burden of one hour per year. This
estimate of burden hours is not derived
from a comprehensive or necessarily
even representative study of the cost of
the Commission’s rules and forms
Written comments are invited on: (a)
Whether the collection of information is
necessary for the proper performance of
the functions of the Commission,
including whether the information has
practical utility; (b) the accuracy of the
Commission’s estimate of the burden of
the collection of information; (c) ways to
2 The rule also permits the issuer, its principal
underwriter, its depositor, or its record-keeping
agent to mail the notice if the custodian bank has
delegated the mailing of the notice to any of them
or if the issuer has been permitted to operate
without a custodian bank by Commission order. See
17 CFR 270.27f–1.
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21729
enhance the quality, utility, and clarity
of the information collected; and (d)
ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
Please direct your written comments
to Charles Boucher, Director/CIO,
Securities and Exchange Commission,
C/O Shirley Martinson, 6432 General
Green Way, Alexandria, VA 22312; or
send an e-mail to:
PRA_Mailbox@sec.gov.
Dated: April 30, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–10690 Filed 5–7–09; 8:45 am]
BILLING CODE P
SECURITIES AND EXCHANGE
COMMISSION
[File No. 500–1]
In the Matter of Wade Cook Financial
Corp., Warning Management Services,
Inc., Weldotron Corp., Western
Microwave, Inc., Wickes, Inc.,
Worldwide Technologies, Inc., and
Worldwide Xceed Group, Inc. (n/k/a
Liquidating WXG, Inc.); Order of
Suspension of Trading
May 6, 2009.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Wade Cook
Financial Corp. because it has not filed
any periodic reports since the period
ended September 30, 2002.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Warning
Management Services, Inc. because it
has not filed any periodic reports since
the period ended December 31, 2004.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Weldotron
Corp. because it has not filed any
periodic reports since February 28,
1998.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Western
Microwave, Inc. because it has not filed
any periodic reports since the period
ended March 31, 1997.
E:\FR\FM\08MYN1.SGM
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21730
Federal Register / Vol. 74, No. 88 / Friday, May 8, 2009 / Notices
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Wickes, Inc.
because it has not filed any periodic
reports since the period ended June 28,
2003.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Worldwide
Technologies, Inc. because it has not
filed any periodic reports since the
period ended June 30, 2002.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Worldwide
Xceed Group, Inc. (n/k/a Liquidating
WXG, Inc.) because it has not filed any
periodic reports since the period ended
February 28, 2001.
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
companies.
Therefore, it is ordered, pursuant to
Section 12(k) of the Securities Exchange
Act of 1934, that trading in the
securities of the above-listed companies
is suspended for the period from 9:30
a.m. EDT on May 6, 2009, through 11:59
p.m. EDT on May 19, 2009.
By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–10933 Filed 5–6–09; 4:15 pm]
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59854; File No. SR–
NYSEArca–2009–29]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NYSE
Arca, Inc. That Suspends NYSE Arca’s
Stock Price Continued Listing
Standard
hsrobinson on PROD1PC76 with NOTICES
May 1, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on April 17,
2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or
the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Commission is
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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17:51 May 07, 2009
Jkt 217001
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange, through its whollyowned subsidiary NYSE Arca Equities,
Inc. (‘‘NYSE Arca Equities’’), proposes
to amend its rules governing NYSE
Arca, LLC (also referred to as the ‘‘NYSE
Arca Marketplace’’) by suspending
through June 30, 2009, the application
of its price criteria for capital and
common stock set forth in NYSE Arca
Equities Rule 5.5(b)(2).The text of the
proposed rule change is available at the
Exchange, the Commission’s Public
Reference Room, and https://
www.nyse.com.
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
self-regulatory organization 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 those 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 parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8010–01–P
1 15
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
1. Purpose
In recent months, the U.S. and global
equities markets have experienced
extreme volatility and a precipitous
decline in trading prices of many
securities. In response to these unusual
market conditions, the NYSE and
NASDAQ have suspended the
application of their respective dollar
price continued listing requirements.3
3 See Securities Exchange Act Release No. 59510
(March 4, 2009), 74 FR 10636 (March 11, 2009) (SR–
NYSE–2009–21), which suspends the NYSE’s dollar
price continued listing requirement set forth in
Section 802.01C of the Listed Company Manual
through [sic] June 30, 2009 (the ‘‘NYSE
Amendment’’). See Securities Exchange Act Release
58809 (October 17, 2008), 73 FR 63222 (October 23,
2008) (SR–NASDAQ–2008–082) for the suspension
of NASDAQ’s bid price and market value of
publicly held shares through January 16, 2009 (the
‘‘NASDAQ Amendment’’). See, also, Securities
Exchange Act Release 59219 (January 8, 2009), 74
FR 2640 (January 15, 2009), extending the
application of the NASDAQ Amendment to April
19, 2009. See, also, SR–NASDAQ–2009–026 (filed
March 18, 2009), proposing to further extend the
application of the NASDAQ Amendment through
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Sfmt 4703
NYSE Arca proposes to suspend
through June 30, 2009, its own dollar
price requirement as set forth in NYSE
Arca Equities Rule 5.5(b)(2). This
proposed suspension will provide
temporary relief to companies in
response to the extreme volatility and a
precipitous decline in trading prices of
many securities experienced in the U.S.
and global equities markets, which the
Commission had acknowledged
constituted a threat to the fair and
orderly functioning of the securities
markets and could lead to a crisis of
confidence among investors regarding
the viability of companies whose stock
prices have declined significantly.4
Under the proposed suspension of the
Exchange’s stock price continued listing
standard, companies will not be notified
of new events of noncompliance with
the price requirement during the
suspension period. Companies that are
in a compliance period at the time of
commencement of the suspension 5 will
still be deemed to have regained
compliance during the rule suspension
period if, at the expiration of their
respective six-month cure periods
July 19, 2009. NASDAQ’s continued listing
requirements relating to bid price are set forth in
NASAQ Marketplace Rules 4310(c)(4),
4320(e)(2)(E)(ii), 4450(a)(5), 4450(b)(4), and
4450(h)(3) and the related compliance periods are
set forth in NASDAQ Marketplace Rules
4310(c)(8)(D), 4320(e)(2)(E)(ii), and 4450(e)(2).
NASDAQ’s continued listing requirements relating
to market value of publicly held shares are set forth
in NASDAQ Marketplace Rules 4310(c)(7),
4320(e)(5), 450(a)(2), 4450(b)(3) and 4450(h)(2) and
the related compliance periods are set forth in Rules
4310(c)(8)(B) and 4450(e)(1).
4 See, e.g., Securities Exchange Act Release No.
58588 (September 18, 2008), 73 FR 55174
(September 24, 2008) (‘‘The Commission is aware
of the continued potential of sudden and excessive
fluctuations of securities prices and disruption in
the functioning of the securities markets that could
threaten fair and orderly markets. Given the
importance of confidence in our financial markets
as a whole, we have also become concerned about
sudden and unexplained declines in the prices of
securities. Such price declines can give rise to
questions about the underlying financial condition
of an issuer, which in turn can create a crisis of
confidence without a fundamental underlying basis.
This crisis of confidence can impair the liquidity
and ultimate viability of an issuer, with potentially
broad market consequences.’’).
5 The Exchange notes that there is currently one
company in a compliance period for
noncompliance with the dollar price requirement
and there are not currently any companies in the
Exchange’s delisting appeal process that have been
sent a delisting notification for noncompliance with
the dollar price continued listing requirement. The
Exchange also notes that it would continue to
identify companies in a compliance period as below
compliance for price, including by continuing to
append an indicator to the company’s stock ticker
to identify it as being below compliance for price
and including the company on a list of companies
that are below compliance for price posted to the
Exchange’s Web site, unless the company regains
compliance during the suspension. A company
would continue to be subject to delisting for failure
to comply with other listing requirements.
E:\FR\FM\08MYN1.SGM
08MYN1
]]>Agencies
[Federal Register Volume 74, Number 88 (Friday, May 8, 2009)]
[Notices]
[Pages 21729-21730]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-10933]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[File No. 500-1]
In the Matter of Wade Cook Financial Corp., Warning Management
Services, Inc., Weldotron Corp., Western Microwave, Inc., Wickes, Inc.,
Worldwide Technologies, Inc., and Worldwide Xceed Group, Inc. (n/k/a
Liquidating WXG, Inc.); Order of Suspension of Trading
May 6, 2009.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Wade Cook Financial Corp. because it has not filed any periodic reports
since the period ended September 30, 2002.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Warning Management Services, Inc. because it has not filed any periodic
reports since the period ended December 31, 2004.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Weldotron Corp. because it has not filed any periodic reports since
February 28, 1998.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Western Microwave, Inc. because it has not filed any periodic reports
since the period ended March 31, 1997.
[[Page 21730]]
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Wickes, Inc. because it has not filed any periodic reports since the
period ended June 28, 2003.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Worldwide Technologies, Inc. because it has not filed any periodic
reports since the period ended June 30, 2002.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Worldwide Xceed Group, Inc. (n/k/a Liquidating WXG, Inc.) because it
has not filed any periodic reports since the period ended February 28,
2001.
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 companies.
Therefore, it is ordered, pursuant to Section 12(k) of the
Securities Exchange Act of 1934, that trading in the securities of the
above-listed companies is suspended for the period from 9:30 a.m. EDT
on May 6, 2009, through 11:59 p.m. EDT on May 19, 2009.
By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-10933 Filed 5-6-09; 4:15 pm]
BILLING CODE 8010-01-P
