In the Matter of Gulf Alternative Energy Corporation; Order of Suspension of Trading, 38676-38677 [E9-18669]

Download as PDF 38676 Federal Register / Vol. 74, No. 148 / Tuesday, August 4, 2009 / Notices issuer of a class of securities registered under the Securities Act of 1933 (the ‘‘Securities Act’’) (15 U.S.C. 77a et seq.). Form 11–K provides employees of an issuer with financial information so that they can assess the performance of the investment vehicle or stock plan. Form 11–K is filed on occasion. The information collected must be filed with the Commission and is publicly available. Form 11–K takes approximately 30 burden hours per response and is filed by 2,000 respondents for a total of 60,000 burden hours. 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. Written comments regarding the above information should be directed to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or send an e-mail to Shagufta_Ahmed@omb.eop.gov; and (ii) Charles Boucher, Director/CIO, Securities and Exchange Commission, C/O Shirley Martinson 6432 General Green Way, Alexandria, Virginia 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: July 29, 2009. Florence E. Harmon, Deputy Secretary. [FR Doc. E9–18559 Filed 8–3–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Extension of Existing Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. mstockstill on DSKH9S0YB1PROD with NOTICES Extension: Rule 204, OMB Control No. 3235–0647, SEC File No. 270–586. 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 (‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection VerDate Nov<24>2008 16:07 Aug 03, 2009 Jkt 217001 of information to the Office of Management and Budget for extension and approval. Rule 204 (17 CFR 242.204) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) requires that, subject to certain limited exceptions, if a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency it must immediately close out the fail to deliver position by purchasing or borrowing securities by no later than the beginning of regular trading hours on the settlement day following the day the participant incurred the fail to deliver position. Rule 204 is intended to help further the Commission’s goal of reducing fails to deliver by maintaining the reductions in fails to deliver achieved by the adoption of temporary Rule 204T, as well as other actions taken by the Commission. In addition, Rule 204 is intended to help further the Commission’s goal of addressing abusive ‘‘naked’’ short selling in all equity securities. Several provisions under Rule 204 will impose a ‘‘collection of information’’ within the meaning of the Paperwork Reduction Act. I. Allocation Notification Requirement: It is estimated that the active broker-dealer respondents registered with the Commission incur an aggregate burden of 394,626 hours per year to comply with this provision of Rule 204. II. Demonstration Requirement for Fails to Deliver on Long Sales: It is estimated that the active broker-dealer respondents registered with the Commission incur an aggregate burden of 270,063 hours per year to comply with this provision of Rule 204. III. Pre-Borrow Notification Requirement: It is estimated that the active broker-dealer respondents registered with the Commission incur an aggregate burden of 397,152 hours per year to comply with this provision of Rule 204. IV. Certification Requirement: It is estimated that the active broker-dealer respondents registered with the Commission incur an aggregate burden of 394,626 hours per year to comply with this provision of Rule 204. V. Pre-Fail Credit Demonstration Requirement: It is estimated that the active broker-dealer respondents registered with the Commission incur an aggregate burden of 394,626 hours per year to comply with this provision of Rule 204. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 Commission, including whether the information will have practical utility; (b) the accuracy of the Commission’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be 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. Comments should be directed to Charles Boucher, Director/Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send an email to: PRA_Mailbox@sec.gov. Dated: July 29, 2009. Florence E. Harmon, Deputy Secretary. [FR Doc. E9–18560 Filed 8–3–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [ File No. 500–1] In the Matter of Gulf Alternative Energy Corporation; Order of Suspension of Trading July 31, 2009. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Gulf Alternative Energy Corporation (trading symbol: GAEC) because of questions regarding the accuracy and adequacy of information contained in press releases and on its website regarding the quality of the company’s technology and the company’s business prospects and agreements. The Commission is of the opinion that the public interest and the protection of the investors require a suspension of trading in the securities of Gulf Alternative Energy Corporation. 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, July 31, 2009, through 11:59 p.m. EDT, on August 13, 2009. E:\FR\FM\04AUN1.SGM 04AUN1 Federal Register / Vol. 74, No. 148 / Tuesday, August 4, 2009 / Notices By the Commission. Florence E. Harmon, Deputy Secretary. [FR Doc. E9–18669 Filed 7–31–09; 4:15 pm] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60394; File No. SR–DTC– 2009–13] Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing of Proposed Rule Change Relating to Municipal Bonds Redemption Process July 28, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on July 15, 2009, The Depository Trust Company (‘‘DTC’’) 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 primarily by DTC. 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 DTC proposes to modify the timing when an issuer of certain municipal securities or its agent notifies DTC of a redemption or an advance refunding of such municipal securities. mstockstill on DSKH9S0YB1PROD with NOTICES II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, DTC 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. DTC 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 In early 2008, the Association of Global Custodians (‘‘AGC’’) and DTC formed a working group to explore issues associated with redemption announcements. Several meetings were 1 15 U.S.C. 78s(b)(1). VerDate Nov<24>2008 16:07 Aug 03, 2009 Jkt 217001 held in 2008 with participation from members of the AGC, The Securities Industry and Financial Markets Association, the agent community, DTC, and DTC’s participants. Among other things, the working group reviewed redemption announcement data for a six month period and discovered that many conventional municipal bond 2 issuers or their agents were notifying DTC of the redemption or refund later than the 30 day Publication Date period as required in DTC’s rules. The working group then investigated the ramifications of this and concluded that if DTC were to amend the Publication Date from the current standard of ‘‘no fewer than 30 calendar days’’ prior to the redemption or advance refund to ‘‘no fewer than 20 calendar days’’ prior to the redemption or advance refund for conventional municipal bonds, DTC would still have sufficient time to process the redemption announcement and issuers and their agents would have more time to notify DTC of a redemption thereby making the redemption notification process more efficient. The working group presented this proposal to the American Bankers Association and to the National Association of Bond Lawyers and both organizations approved this recommendation. Therefore, DTC proposes to amend Part V.A. of its Operational Arrangements to redefine the time frame for an issuer or its agent of a conventional municipal bond to notify DTC of a full or partial redemption or an advance refunding of part of such outstanding securities. Under the proposal, the issuer or agent will have to notify DTC at least two business days prior to the Publication Date, which will be redefined as ‘‘no fewer than 20 calendar days nor more than 60 calendar days prior to the redemption date or, in the case of an advance refunding, the date that the proceeds are deposited in escrow (and, in such cases, final notification must be received no later than 20 calendar days prior to the refunding date.)’’ DTC proposes that this new requirement would be effective October 1, 2009. DTC states that the proposed rule change is consistent with the requirements of Section 17A of the Act 3 and the rules and regulations thereunder because it modifies an existing DTC service in order to make 2 A ‘‘conventional municipal bond’’ was defined as ‘‘a bond without any derivatives attached to it and no inherent features that would prevent a redemption announcement from being provided in a timely manner.’’ 3 15 U.S.C. 78q–1. PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 38677 the redemption process for municipal bonds more efficient. As such it is a change to an existing service, which will not adversely affect the safeguarding of securities and funds in DTC’s control or custody. B. Self-Regulatory Organization’s Statement on Burden on Competition DTC does not believe that the proposed rule change will have any impact or impose any burden on competition. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments relating to the proposed rule change have not yet been solicited or received. DTC will notify the Commission of any written comments received by DTC. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within thirty-five days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to ninety days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve such proposed rule change or (B) institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml) or • Send an e-mail to rulecomments@sec.gov. Please include File No. SR–DTC–2009–13 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File No. SR–DTC–2009–13. This file number E:\FR\FM\04AUN1.SGM 04AUN1

Agencies

[Federal Register Volume 74, Number 148 (Tuesday, August 4, 2009)]
[Notices]
[Pages 38676-38677]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-18669]


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SECURITIES AND EXCHANGE COMMISSION

[ File No. 500-1]


 In the Matter of Gulf Alternative Energy Corporation; Order of 
Suspension of Trading

July 31, 2009.

    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Gulf Alternative Energy Corporation (trading symbol: GAEC) because of 
questions regarding the accuracy and adequacy of information contained 
in press releases and on its website regarding the quality of the 
company's technology and the company's business prospects and 
agreements.
    The Commission is of the opinion that the public interest and the 
protection of the investors require a suspension of trading in the 
securities of Gulf Alternative Energy Corporation.
    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, 
July 31, 2009, through 11:59 p.m. EDT, on August 13, 2009.


[[Page 38677]]


    By the Commission.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-18669 Filed 7-31-09; 4:15 pm]
BILLING CODE 8010-01-P
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