Possible Revocation of Ocean Transportation Intermediary License No. 021899-Trans World Logistics Corporation; Order To Show Cause, 22576-22577 [2012-9099]
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Federal Register / Vol. 77, No. 73 / Monday, April 16, 2012 / Notices
material fact that cannot be resolved on
the basis of sworn statements, affidavits,
depositions, or other documents or that
the nature of the matter in issue is such
that an oral hearing and crossexamination are necessary for the
development of an adequate record.
Pursuant to the further terms of 46 CFR
502.61, the initial decision of the
presiding officer in this proceeding shall
be issued by April 10, 2013 and the final
decision of the Commission shall be
issued by August 8, 2013.
Karen V. Gregory,
Secretary.
[FR Doc. 2012–8994 Filed 4–13–12; 8:45 am]
BILLING CODE 6730–01–P
FEDERAL MARITIME COMMISSION
[Docket No. 12–04]
emcdonald on DSK29S0YB1PROD with NOTICES
Possible Revocation of Ocean
Transportation Intermediary License
No. 021899—Trans World Logistics
Corporation; Order To Show Cause
Trans World Logistics Corporation
(Trans World Logistics) is an Indiana
corporation, incorporated in October
2006. Records maintained by the
Commission’s Bureau of Certification
and Licensing (BCL) indicate that Trans
World Logistics maintains its principal
offices at 702 Penny Lane, Plainfield,
Indiana. BCL records identify the
principals of the firm as Malene
Sorensen, Vice President and Satinder
Kaur, President, Treasurer and CEO.
Trans World Logistics has been licensed
to operate as an ocean transportation
intermediary (OTI) pursuant to FMC
license No. 021899 since December
2008.
Trans World Logistics was licensed
on the basis of the qualifications of Ms.
Sorensen, an officer of the company and
its approved Qualifying Individual (QI).
Based on information obtained in the
course of a routine OTI compliance
audit conducted by the Commission’s
Bureau of Enforcement (BOE), it appears
that the QI resigned her position as an
officer on November 3, 2010. According
to BCL’s records, the licensee has not
notified the Commission of the QI’s
resignation or sought approval of a
replacement QI. The Commission’s OTI
regulations require that when, as here,
a corporation has been licensed on the
basis of the qualifications of an officer
of the company and that individual no
longer serves in a full-time and active
capacity, the licensee must report such
change to the Commission within 30
days and within that time period seek
Commission approval of any other
active officer who may qualify the
VerDate Mar<15>2010
14:39 Apr 13, 2012
Jkt 226001
licensee. 46 CFR 515.18(c). It appears
that Trans World Logistics has violated
and continues to be in violation of this
requirement.
In addition, as part of its OTI
compliance audit of Trans World
Logistics, BOE sent repeated requests to
the company between June and
November, 2011, seeking current
information about its OTI business.
Such requests were sent to the addresses
contained in BCL’s records as well as
additional addresses for the firm’s
principals located through research
conducted by staff. Despite BOE’s efforts
to communicate with the licensee in
order to obtain information about its
OTI business, Trans World Logistics has
repeatedly failed to reply to such
requests. The Commission regulations
require a licensee to promptly respond
to lawful inquiries from any authorized
representative of the Commission. 46
CFR 515.31(g). It appears that Trans
World Logistics also continues to be in
violation of this requirement.
Section 19(c) of the Shipping Act, 46
U.S.C. 40903 (a), provides that the
Commission:
* * * after notice and opportunity for
hearing, shall suspend or revoke an ocean
transportation intermediary’s license if the
Commission finds that the ocean
transportation intermediary—(1) is not
qualified to provide intermediary services; or
(2) that it willfully failed to comply with a
provision of this part or with an order or
regulation of the Commission.
As pertinent, the Commission’s
regulations at 46 CFR 515.16(a) provide
that an OTI license be revoked or
suspended for any of the following
reasons:
(1) Violation of any provision of the
Act, or any other statute or Commission
order or regulation related to carrying
on the business of an ocean
transportation intermediary;
(2) Failure to respond to any lawful
order or inquiry by the Commission;
(3) Making a materially false or
misleading statement to the Commission
in connection with an application for a
license or an amendment to an existing
license;
(4) Where the Commission determines
that the licensee is not qualified to
render intermediary services;
(5) Failure to honor the licensee’s
financial obligations to the Commission.
It appears that Trans World Logistics
has violated Commissions regulations
by failing to notify the Commission of
the resignation of its QI, failing to seek
approval of a replacement, and
repeatedly failing to respond to lawful
inquiries by the Commission with
respect to its OTI business. Accordingly,
PO 00000
Frm 00020
Fmt 4703
Sfmt 4703
it appears that revocation of its license
is warranted under the Shipping Act.
Now therefore, it is ordered That
pursuant to Sections 11, 14 and 19 of
the Shipping Act of 1984, 46 U.S.C.
41302, 41304, 40903(a)(2), Trans World
Logistics Corporation is directed to
show cause, within 30 days of
publication of this Order in the Federal
Register, why the Commission should
not revoke its license for failure to
report the resignation of its QI and seek
approval of a replacement, as required
by 46 CFR 515.18; and for failure to
reply to lawful inquiries by the
Commission with respect to its business
as required by 46 CFR 515.31(g).
It is further ordered That this
proceeding be limited to the submission
of affidavits of fact and memoranda of
law;
It is further ordered That any person
having an interest and desiring to
intervene in this proceeding shall file a
petition for leave to intervene in
accordance with Rule 72 of the
Commission’s Rules of Practice and
Procedure, 46 CFR 502.72. Such petition
shall be accompanied by the petitioner’s
memorandum of law and affidavit of
fact, if any, and shall be filed no later
than the date fixed below;
It is further ordered That Trans World
Logistics Corporation be named as
Respondent in this proceeding.
Affidavits of fact and memoranda of law
shall be filed by Respondent and any
intervenors in support of Respondent no
later than May 11, 2012;
It is further ordered That the
Commission’s Bureau of Enforcement be
made a party to this proceeding;
It is further ordered That reply
affidavits and memoranda of law shall
be filed by BOE and intervenors in
support no later than May 29, 2012;
It is further ordered That:
(a) Should any party believe that an
evidentiary hearing is required, that
party must submit a request for such
hearing together with a statement setting
forth in detail the facts to be proved, the
relevance of those facts to the issues in
this proceeding, a description of the
evidence which would be adduced, and
why such evidence cannot be submitted
by affidavit;
(b) Any request for evidentiary
hearing shall be filed no later than May
29, 2012;
It is further ordered That notice of this
Order to Show Cause be published in
the Federal Register, and that a copy
thereof be served upon Respondent at
its last known address;
It is further ordered That all
documents submitted by any party of
record in this proceeding shall be filed
in accordance with Rule 2 of the
E:\FR\FM\16APN1.SGM
16APN1
Federal Register / Vol. 77, No. 73 / Monday, April 16, 2012 / Notices
Commission’s Rules of Practice and
Procedure, 46 CFR 502.2, as well as
being mailed directly to all parties of
record;
Finally, it is ordered That pursuant to
the terms of Rule 61 of the
Commission’s Rules of Practice and
Procedure, 46 CFR 502.61, the final
decision of the Commission in this
proceeding shall be issued by August 9,
2012.
necessary to facilitate settlement of the
Federal Reserve’s agency MBS
transactions. The System Open Market
Account Manager and the Secretary will
keep the Committee informed of
ongoing developments regarding the
System’s balance sheet that could affect
the attainment over time of the
Committee’s objectives of maximum
employment and price stability.
By order of the Federal Open Market
Committee, April 9, 2012.
William B. English,
Secretary, Federal Open Market Committee.
[FR Doc. 2012–9099 Filed 4–13–12; 8:45 am]
[FR Doc. 2012–8918 Filed 4–13–12; 8:45 am]
BILLING CODE 6730–01–P
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
FEDERAL RESERVE SYSTEM
Federal Open Market Committee;
Domestic Policy Directive of March 13,
2012
emcdonald on DSK29S0YB1PROD with NOTICES
By the Commission.
Karen V. Gregory,
Secretary.
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
In accordance with Section 271.7(d)
of its rules regarding availability of
information (12 CFR part 271), there is
set forth below the domestic policy
directive issued by the Federal Open
Market Committee at its meeting held
on March 13, 2012.1
The Federal Open Market Committee
seeks monetary and financial conditions
that will foster price stability and
promote sustainable growth in output.
To further its long-run objectives, the
Committee seeks conditions in reserve
markets consistent with federal funds
trading in a range from 0 to 1⁄4 percent.
The Committee directs the Desk to
continue the maturity extension
program it began in September to
purchase, by the end of June 2012,
Treasury securities with remaining
maturities of approximately 6 years to
30 years with a total face value of $400
billion, and to sell Treasury securities
with remaining maturities of 3 years or
less with a total face value of $400
billion. The Committee also directs the
Desk to maintain its existing policies of
rolling over maturing Treasury
securities into new issues and of
reinvesting principal payments on all
agency debt and agency mortgagebacked securities in the System Open
Market Account in agency mortgagebacked securities in order to maintain
the total face value of domestic
securities at approximately $2.6 trillion.
The Committee directs the Desk to
engage in dollar roll transactions as
1 Copies of the Minutes of the Federal Open
Market Committee at its meeting held on March 13,
2012, which includes the domestic policy directive
issued at the meeting, are available on the Board’s
Web site, www.federalreserve.gov. The minutes are
also published in the Federal Reserve Bulletin and
in the Board’s Annual Report.
VerDate Mar<15>2010
14:39 Apr 13, 2012
Jkt 226001
The companies listed in this notice
have applied to the Board for approval,
pursuant to the Bank Holding Company
Act of 1956 (12 U.S.C. 1841 et seq.)
(BHC Act), Regulation Y (12 CFR part
225), and all other applicable statutes
and regulations to become a bank
holding company and/or to acquire the
assets or the ownership of, control of, or
the power to vote shares of a bank or
bank holding company and all of the
banks and nonbanking companies
owned by the bank holding company,
including the companies listed below.
The applications listed below, as well
as other related filings required by the
Board, are available for immediate
inspection at the Federal Reserve Bank
indicated. The applications will also be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the standards enumerated in
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of
a nonbanking company, the review also
includes whether the acquisition of the
nonbanking company complies with the
standards in section 4 of the BHC Act
(12 U.S.C. 1843). Unless otherwise
noted, nonbanking activities will be
conducted throughout the United States.
Unless otherwise noted, comments
regarding each of these applications
must be received at the Reserve Bank
indicated or the offices of the Board of
Governors not later than May 11, 2012.
A. Federal Reserve Bank of Kansas
City (Dennis Denney, Assistant Vice
President) 1 Memorial Drive, Kansas
City, Missouri 64198–0001:
1. FNB Bancshares, Inc.,
Independence, Kansas; to become a
bank holding company by acquiring 100
percent of the voting shares of First
National Bank, Independence, Kansas.
PO 00000
Frm 00021
Fmt 4703
Sfmt 4703
22577
B. Federal Reserve Bank of San
Francisco (Kenneth Binning, Vice
President, Applications and
Enforcement) 101 Market Street, San
Francisco, California 94105–1579:
1. Carpenter Fund Manager GP, LLC,
Carpenter Fund Management Company,
LLC, Carpenter Community Bancfund,
L.P., Carpenter Community BanFund—
A, L.P., Carpenter Community
BandFund—CA, L.P., CCFW, Inc., and
Carpenter Bank Partners, Inc., all in
Irvine, California; to acquire additional
voting shares, for a total of
approximately 78 percent of the voting
shares, of Manhattan Bancorp, and
thereby indirectly acquire additional
voting shares of Bank of Manhattan,
National Association, both in El
Segundo, California.
Board of Governors of the Federal Reserve
System, April 11, 2012.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2012–9032 Filed 4–13–12; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies;
Correction
This notice corrects a notice (FR Doc.
2012–08198) published on page 20635
of the issue for Thursday, April 5, 2012.
Under the Federal Reserve Bank of
Kansas City heading, the entry for
Arthur L. Loomis, II, Patricia A. Loomis,
Genevieve E. Loomis, and Julia P.
Loomis, all of Niskayuna, New York;
Frederick S. Loomis, Anne M. Loomis,
and J. Porter Loomis, all of Pratt,
Kansas; Howard K. Loomis, Jr., Karen P.
Loomis, Katherine P. Loomis, Margaret
P. Loomis, and Victoria K. Loomis, all of
Los Gatos, California, as individuals
and/or trustees of the 2011 Arthur L.
Loomis, II Gift Trust, Julia P. Loomis
Revocable Trust, Arthur L. Loomis, II
Revocable Trust, Genevieve E. Loomis
Revocable Trust, all of Niskayuna, New
York; Howard K. Loomis Revocable
Trust, 2010 Howard K. Loomis
Irrevocable Family Trust, Porter Legacy
Trust, Florence Porter Loomis Trust,
2010 Florence Porter Loomis Irrevocable
Family Trust, 2011 Frederick S. Loomis
Gift Trust, 2011 J. Porter Loomis Gift
Trust, all of Pratt, Kansas; 2011 Howard
K. Loomis Jr. Gift Trust, The Loomis
1993 Revocable Trust, both of Los Gatos,
California; and Flopper, L.P., How-Kan,
L.P., and Driftwood, LLC, all of Pratt,
Kansas; and all as members of the
Loomis Family Group, is revised to read
as follows:
E:\FR\FM\16APN1.SGM
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]]>Agencies
[Federal Register Volume 77, Number 73 (Monday, April 16, 2012)]
[Notices]
[Pages 22576-22577]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-9099]
-----------------------------------------------------------------------
FEDERAL MARITIME COMMISSION
[Docket No. 12-04]
Possible Revocation of Ocean Transportation Intermediary License
No. 021899--Trans World Logistics Corporation; Order To Show Cause
Trans World Logistics Corporation (Trans World Logistics) is an
Indiana corporation, incorporated in October 2006. Records maintained
by the Commission's Bureau of Certification and Licensing (BCL)
indicate that Trans World Logistics maintains its principal offices at
702 Penny Lane, Plainfield, Indiana. BCL records identify the
principals of the firm as Malene Sorensen, Vice President and Satinder
Kaur, President, Treasurer and CEO. Trans World Logistics has been
licensed to operate as an ocean transportation intermediary (OTI)
pursuant to FMC license No. 021899 since December 2008.
Trans World Logistics was licensed on the basis of the
qualifications of Ms. Sorensen, an officer of the company and its
approved Qualifying Individual (QI). Based on information obtained in
the course of a routine OTI compliance audit conducted by the
Commission's Bureau of Enforcement (BOE), it appears that the QI
resigned her position as an officer on November 3, 2010. According to
BCL's records, the licensee has not notified the Commission of the QI's
resignation or sought approval of a replacement QI. The Commission's
OTI regulations require that when, as here, a corporation has been
licensed on the basis of the qualifications of an officer of the
company and that individual no longer serves in a full-time and active
capacity, the licensee must report such change to the Commission within
30 days and within that time period seek Commission approval of any
other active officer who may qualify the licensee. 46 CFR 515.18(c). It
appears that Trans World Logistics has violated and continues to be in
violation of this requirement.
In addition, as part of its OTI compliance audit of Trans World
Logistics, BOE sent repeated requests to the company between June and
November, 2011, seeking current information about its OTI business.
Such requests were sent to the addresses contained in BCL's records as
well as additional addresses for the firm's principals located through
research conducted by staff. Despite BOE's efforts to communicate with
the licensee in order to obtain information about its OTI business,
Trans World Logistics has repeatedly failed to reply to such requests.
The Commission regulations require a licensee to promptly respond to
lawful inquiries from any authorized representative of the Commission.
46 CFR 515.31(g). It appears that Trans World Logistics also continues
to be in violation of this requirement.
Section 19(c) of the Shipping Act, 46 U.S.C. 40903 (a), provides
that the Commission:
* * * after notice and opportunity for hearing, shall suspend or
revoke an ocean transportation intermediary's license if the
Commission finds that the ocean transportation intermediary--(1) is
not qualified to provide intermediary services; or (2) that it
willfully failed to comply with a provision of this part or with an
order or regulation of the Commission.
As pertinent, the Commission's regulations at 46 CFR 515.16(a) provide
that an OTI license be revoked or suspended for any of the following
reasons:
(1) Violation of any provision of the Act, or any other statute or
Commission order or regulation related to carrying on the business of
an ocean transportation intermediary;
(2) Failure to respond to any lawful order or inquiry by the
Commission;
(3) Making a materially false or misleading statement to the
Commission in connection with an application for a license or an
amendment to an existing license;
(4) Where the Commission determines that the licensee is not
qualified to render intermediary services;
(5) Failure to honor the licensee's financial obligations to the
Commission.
It appears that Trans World Logistics has violated Commissions
regulations by failing to notify the Commission of the resignation of
its QI, failing to seek approval of a replacement, and repeatedly
failing to respond to lawful inquiries by the Commission with respect
to its OTI business. Accordingly, it appears that revocation of its
license is warranted under the Shipping Act.
Now therefore, it is ordered That pursuant to Sections 11, 14 and
19 of the Shipping Act of 1984, 46 U.S.C. 41302, 41304, 40903(a)(2),
Trans World Logistics Corporation is directed to show cause, within 30
days of publication of this Order in the Federal Register, why the
Commission should not revoke its license for failure to report the
resignation of its QI and seek approval of a replacement, as required
by 46 CFR 515.18; and for failure to reply to lawful inquiries by the
Commission with respect to its business as required by 46 CFR
515.31(g).
It is further ordered That this proceeding be limited to the
submission of affidavits of fact and memoranda of law;
It is further ordered That any person having an interest and
desiring to intervene in this proceeding shall file a petition for
leave to intervene in accordance with Rule 72 of the Commission's Rules
of Practice and Procedure, 46 CFR 502.72. Such petition shall be
accompanied by the petitioner's memorandum of law and affidavit of
fact, if any, and shall be filed no later than the date fixed below;
It is further ordered That Trans World Logistics Corporation be
named as Respondent in this proceeding. Affidavits of fact and
memoranda of law shall be filed by Respondent and any intervenors in
support of Respondent no later than May 11, 2012;
It is further ordered That the Commission's Bureau of Enforcement
be made a party to this proceeding;
It is further ordered That reply affidavits and memoranda of law
shall be filed by BOE and intervenors in support no later than May 29,
2012;
It is further ordered That:
(a) Should any party believe that an evidentiary hearing is
required, that party must submit a request for such hearing together
with a statement setting forth in detail the facts to be proved, the
relevance of those facts to the issues in this proceeding, a
description of the evidence which would be adduced, and why such
evidence cannot be submitted by affidavit;
(b) Any request for evidentiary hearing shall be filed no later
than May 29, 2012;
It is further ordered That notice of this Order to Show Cause be
published in the Federal Register, and that a copy thereof be served
upon Respondent at its last known address;
It is further ordered That all documents submitted by any party of
record in this proceeding shall be filed in accordance with Rule 2 of
the
[[Page 22577]]
Commission's Rules of Practice and Procedure, 46 CFR 502.2, as well as
being mailed directly to all parties of record;
Finally, it is ordered That pursuant to the terms of Rule 61 of the
Commission's Rules of Practice and Procedure, 46 CFR 502.61, the final
decision of the Commission in this proceeding shall be issued by August
9, 2012.
By the Commission.
Karen V. Gregory,
Secretary.
[FR Doc. 2012-9099 Filed 4-13-12; 8:45 am]
BILLING CODE 6730-01-P
