In the Matter of Petro America Corp.; Order of Suspension of Trading, 29524-29525 [E9-14673]

Download as PDF 29524 Federal Register / Vol. 74, No. 118 / Monday, June 22, 2009 / Notices pwalker on PROD1PC71 with NOTICES Please note that all submissions may be posted without change to https:// ocean.ceq.gov/about/jsost.html, including any personal information provided. The public comment period will close on July 17, 2009 at 5:00 p.m. EDT. Any comments received after the close of the comment period will not be considered. The full text of the January 2007 Charting the Course is posted at https://ocean.ceq.gov/about/ sup_jsost_prioritiesplan.html). FOR FURTHER INFORMATION CONTACT: For information regarding this Notice, please contact comments@jsost.org. SUPPLEMENTARY INFORMATION: This national plan, released in January of 2007, is intended to present ocean research priorities that focus on the most compelling issues in key areas of interaction between society and the ocean. The goal of Charting the Course is to formulate priorities for ocean science and technology initiatives across the wide scope of societal interests and to define the fundamental principles for guiding actions and programs in support of the research priorities. This document also provides guidance on how the various ocean science sectors (government, academia, industry, and non-governmental entities) can and should be engaged, individually or through partnerships, to address the areas of greatest research priority and opportunity. Charting the Course was developed through a collaborative effort involving academia, industry, non-governmental organizations, state and local governments, and anyone with an interest in ocean issues. The JSOST also developed a series of public and conference information sessions to provide updates on the development of the national ocean research priorities. Charting the Course concisely gathers together and lays out in a single document the issues and priorities agreed to across the ocean sciences community. It has supported the creation of programs and projects where there were none, and it has guided priorities in federal agency budget submissions beginning in Fiscal Year 2008 and continuing through the latest budget submission, Fiscal Year 2010. The JSOST recognizes the need to harness momentum and magnify this progress. In the two and a half years since Charting the Course was released, much has changed in the understanding of the ocean, its processes and its role in the Earth system as a whole. Much has also changed in our ability to access, explore, observe, and model the ocean VerDate Nov<24>2008 16:55 Jun 19, 2009 Jkt 217001 and its communities. In light of these changes, and based on encouragement and input from the federal ocean community’s external advisory body— the Ocean Research and Resources Advisory Panel (ORRAP)—and the Office of Science and Technology Policy, the JSOST is building a way forward to refresh Charting the Course and revisit the priorities it sets forth. The first and most critical step in this way forward is reaching out to all interested parties for comments on how the current priorities should be revised for the refreshed Charting the Course. For example, are there issues that should be listed as priorities under the current six societal themes? Are there important areas that the original Charting the Course did not capture? As with developing Charting the Course, the JSOST considers community input and involvement in updating the national ocean research priorities a vital component in the process. JSOST is also working with ORRAP to additionally ensure proper community input and communication. All input received will be compiled, cataloged and thoroughly considered by the federal agency writing teams tasked with crafting a refreshed look at our nation’s ocean research priorities. The JSOST is requesting input in this community effort to revise, update and focus Charting the Course. Please provide complete contact information (name, affiliation, physical address, phone, e-mail) and note which of the following Charting the Course themes your comments address: • Stewardship of our natural and cultural ocean resources • Increasing resilience to natural hazards • Enabling marine operations • The ocean’s role in climate • Improving ecosystem health • Enhancing human health • Other You may also elect to provide comments on the following Charting the Course cross-cutting areas: • Observations and Infrastructure • Ocean Education • Enhancing Basic Understanding The input obtained through this process will be fully considered as the JSOST drafts the updated Charting the Course. M. David Hodge, Operations Manager, OSTP. [FR Doc. E9–14592 Filed 6–19–09; 8:45 am] BILLING CODE 3170–W9–P PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 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 an Open Meeting on Wednesday, June 24, 2009 at 10 a.m., in the Auditorium, Room L–002. The subject matter of the Open Meeting will be: The Commission will consider whether to propose amendments governing the operations of money market funds. 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: June 17, 2009. Elizabeth M. Murphy, Secretary. [FR Doc. E9–14657 Filed 6–18–09; 11:15 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Petro America Corp.; Order of Suspension of Trading June 18, 2009. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Petro America Corp. (‘‘Petro America’’) (trading symbol: PTRZ) because of questions regarding the accuracy and adequacy of assertions by Petro America concerning, among other things: The company’s business operations and assets, including regarding its purported oil trading and storage business and holdings, its purported millions of dollars in assets, and its securities issued and outstanding. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in securities related to the above company. 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 company is suspended for the period from 9:30 a.m. EDT, June 18, 2009 through 11:59 p.m. EDT, on July 1, 2009. E:\FR\FM\22JNN1.SGM 22JNN1 Federal Register / Vol. 74, No. 118 / Monday, June 22, 2009 / Notices By the Commission. Elizabeth M. Murphy, Secretary. [FR Doc. E9–14673 Filed 6–18–09; 11:15 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60106; File No. SR–CBOE– 2009–033] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of Proposed Rule Change Regarding Statutory Disqualification Procedures June 12, 2009. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Exchange Act’’),2 and Rule 19b–4 thereunder,3 notice is hereby given that on May 26, 2009, the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been substantially prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. pwalker on PROD1PC71 with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange is proposing to amend its rule regarding members and associated persons who are or become subject to a statutory disqualification. The text of the proposed rule change is available on the Exchange’s Web site (https://www.cboe.org/legal), at the Exchange’s Office of the Secretary, 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, the Exchange 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 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 VerDate Nov<24>2008 16:55 Jun 19, 2009 Jkt 217001 the most significant parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose Exchange Rule 3.18(a) provides that the Exchange may determine not to permit a member or an associated person of a member who is or becomes subject to a statutory disqualification under the Exchange Act,4 to continue in membership or in association with a member. Under Rule 3.18(b), a member or an associated person who is or becomes subject to a statutory disqualification and wishes to continue in membership or in association with a member must submit an application to the Exchange to do so. When the Exchange receives such an application, or otherwise becomes aware that a member or an associated person is subject to a statutory disqualification, the Exchange is required to appoint a panel to conduct a hearing under the procedures set forth in Rule 3.18 to determine whether to allow the member or associated person to continue in membership or in association with a member. The purpose of this rule filing is to expand the ability of the Exchange to waive the requirement to conduct a hearing under Rule 3.18 if the Exchange intends to grant a member’s application for continued membership or an associated person’s application for continued association with a member. Exchange Act Rule 19h–1 5 prescribes the form and content of, and establishes the mechanism by which the Commission reviews, proposals submitted by self-regulatory organizations (‘‘SROs’’), such as the Exchange, to allow a member or associated person subject to a statutory disqualification to become or remain a member or associated with a member. Among other things, Exchange Act Rule 19h–1 provides for Commission review of notices filed by SROs proposing to admit any person to, or continue any person in, membership or association with a member, notwithstanding a statutory disqualification. However, Exchange Act Rule 19h–1(a)(2) 6 and 4 15 U.S.C. 78a et seq. 5 17 CFR 240.19h–1. 6 Exchange Act Rule 19h–1(a)(2), 17 CFR 240.19h–1(a)(2), provides that a notice need not be filed with the Commission, pursuant to Exchange Act Rule 19h–1, regarding an associated person subject to a statutory disqualification if the person’s activities with respect to the member are solely clerical or ministerial in nature and such person does not have access to funds, securities, or books and records. PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 29525 Exchange Act Rule 19h–1(a)(3) 7 provide that for certain persons, and in limited circumstances, a notice does not need to be filed. Interpretation and Policy .03 to Rule 3.18 currently permits the Exchange to waive the hearing provisions of Rule 3.18 when the Exchange intends to grant an associated person’s application for continued association and the Exchange is not required to make a notice filing with the Commission under Exchange Act Rule 19h–1(a)(2).8 The Exchange is proposing to expand its ability to waive the hearing provisions of Rule 3.18 to when the Exchange intends to grant a member’s or associated person’s application for continued membership or association and the Exchange is not required to make a notice filing with the Commission under Exchange Act Rule 19h–1(a)(3). The Exchange is also proposing to waive the hearing provisions of Rule 3.18 when the Exchange determines to allow a member to continue in membership, or an associated person to continue in association with a member, and the Exchange determines that it is otherwise appropriate to waive the hearing provisions of Rule 3.18 under the circumstances. For example, a settlement agreement for a disciplinary matter involving CBOE and multiple regulators or SROs could fully address statutory disqualification issues, obviating the need for a CBOE hearing on those same issues. The Exchange might also choose to exercise this waiver authority when no regulatory purpose would be served by conducting a hearing under Rule 3.18, such as when the Commission initiated the proceeding regarding the underlying conduct that resulted in the statutory disqualification and the sanction imposed in the matter does not inhibit the applicable party’s ability to continue as an Exchange member or associated person. Interpretation and Policy .01 to Rule 3.18 (‘‘Rule 3.18.01’’) provides that the Exchange may waive the provisions of Rule 3.18 when a proceeding is pending before another SRO to determine whether to permit a member or an associated person to continue in membership or association with the 7 Exchange Act Rule 19h–1(a)(3), 17 CFR 240.19h–1(a)(3), provides that a notice need not be filed with the Commission, pursuant to Exchange Act Rule 19h–1, regarding a person or member subject to a statutory disqualification if the person or member proposed for continued association or membership, respectively, satisfies the requirements of Exchange Act Rule 19h–1(a)(3)(i)– (vi). 8 See Securities Exchange Act Release No. 56614 (October 4, 2007), 72 FR 58132 (October 12, 2007) (SR–CBOE–2007–14). E:\FR\FM\22JNN1.SGM 22JNN1

Agencies

[Federal Register Volume 74, Number 118 (Monday, June 22, 2009)]
[Notices]
[Pages 29524-29525]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-14673]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Petro America Corp.; Order of Suspension of 
Trading

June 18, 2009.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Petro America Corp. (``Petro America'') (trading symbol: PTRZ) because 
of questions regarding the accuracy and adequacy of assertions by Petro 
America concerning, among other things: The company's business 
operations and assets, including regarding its purported oil trading 
and storage business and holdings, its purported millions of dollars in 
assets, and its securities issued and outstanding.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in securities 
related to the above company.
    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 company is suspended for the period from 9:30 a.m. EDT, 
June 18, 2009 through 11:59 p.m. EDT, on July 1, 2009.


[[Page 29525]]


    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-14673 Filed 6-18-09; 11:15 am]
BILLING CODE 8010-01-P
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