Somerset International Group, Inc.; Order of Suspension of Trading, 54520 [2011-22534]

Download as PDF 54520 Federal Register / Vol. 76, No. 170 / Thursday, September 1, 2011 / Notices 2. Statutory Basis The Exchange believes that this proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 (‘‘Act’’),9 in general, and furthers the objectives of Section 6(b)(5) of the Act 10 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, promote just and equitable principles of trade, remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. The Exchange believes that its proposal is consistent with the Act because, on balance, the elimination of the continuous quoting obligations in adjusted series is a minor change and should not impact the quality of Amex’s market. Among other things, adjusted series are not common, and trading interest is often very low after the corporate event has passed. Consequently, continuous quotes in such series increases quote traffic and burdens systems without a corresponding benefit. By not requiring Market Makers to continuously quote in such series, the Exchange’s proposal would further its goal of measured quote mitigation. Further, while they will not be tasked with continually quoting such series, Market Makers will be obligated to quote the series when called upon by a Trading Official. In addition, a MM [sic] will be required to quote the series becomes ‘‘lit’’ in response to a request for quote being received. Accordingly, the proposal supports the quality of Amex’s market by helping to ensure that Market Makers will continue to be obligated to quote in adjusted series when the need arises. B. Self-Regulatory Organization’s Statement on Burden on Competition srobinson on DSK4SPTVN1PROD with NOTICES The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. 9 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). 10 15 VerDate Mar<15>2010 16:16 Aug 31, 2011 Jkt 223001 III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 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 90 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 or disapprove the 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–NYSEAmex–2011–61 on the subject line. business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR– NYSEAmex–2011–61 and should be submitted on or before September 22, 2011. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Elizabeth M. Murphy, Secretary. [FR Doc. 2011–22440 Filed 8–31–11; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] Somerset International Group, Inc.; Order of Suspension of Trading August 30, 2011. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Somerset International Group, Inc. Paper Comments The Commission is of the opinion that • Send paper comments in triplicate the public interest and the protection of to Elizabeth M. Murphy, Secretary, investors require a suspension of trading Securities and Exchange Commission, in the securities of the above-listed Station Place, 100 F Street, NE., company. Washington, DC 20549–1090. Therefore, it is ordered, pursuant to All submissions should refer to File Section 12(k) of the Securities Exchange Number SR–NYSEAmex–2011–61. This Act of 1934, that trading in the file number should be included on the securities of the above-listed company is subject line if e-mail is used. To help the suspended for the period from 9:30 a.m. Commission process and review your EDT on August 30, 2011, through 11:59 comments more efficiently, please use p.m. EDT on September 13, 2011. only one method. The Commission will By the Commission. post all comments on the Commission’s Jill M. Peterson, Internet Web site (https://www.sec.gov/ Assistant Secretary. rules/sro.shtml). Copies of the [FR Doc. 2011–22534 Filed 8–30–11; 4:15 pm] submission, all subsequent BILLING CODE 8011–01–P amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written SMALL BUSINESS ADMINISTRATION communications relating to the [Disaster Declaration #12756 and #12757] proposed rule change between the Commission and any person, other than South Dakota Disaster #SD–00042 those that may be withheld from the public in accordance with the AGENCY: U.S. Small Business provisions of 5 U.S.C. 552, will be Administration. available for Web site viewing and ACTION: Notice. printing in the Commission’s Public Reference Room, 100 F Street, NE., 11 17 CFR 200.30–3(a)(12). Washington, DC 20549, on official PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 E:\FR\FM\01SEN1.SGM 01SEN1

Agencies

[Federal Register Volume 76, Number 170 (Thursday, September 1, 2011)]
[Notices]
[Page 54520]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-22534]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


Somerset International Group, Inc.; Order of Suspension of 
Trading

August 30, 2011.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Somerset International Group, Inc.
    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 of the 
above-listed company is suspended for the period from 9:30 a.m. EDT on 
August 30, 2011, through 11:59 p.m. EDT on September 13, 2011.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2011-22534 Filed 8-30-11; 4:15 pm]
BILLING CODE 8011-01-P
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