In the Matter of Far Vista Petroleum Corp.; Order of Suspension of Trading, 68133 [2013-27238]

Download as PDF Federal Register / Vol. 78, No. 219 / Wednesday, November 13, 2013 / Notices listing market notifications, opening or re-opening quotes, and opening, reopening, and closing trades. The Exchanges have represented, and the commenters have agreed, that this proposed change would better align the Exchanges’ rules with the capabilities and preferences of the industry. In particular, the Commission understands from the Exchanges that, when firms route quotes or orders to an exchange, they expect to receive return messages, such as confirmations, under the same exchange’s designation.43 For certain messages, however, such as the opening, re-opening, and closing prints, opening and re-opening quotes, and primary listing market notifications, the Exchanges have represented, based on the results of an industry-wide test and feedback from market participants, that firms’ systems may need to see the listing market designation—‘‘N’’ for NYSE and ‘‘A’’ for MKT.44 Accordingly, the Commission believes that the proposals are intended to maintain orderly trading during an emergency and to do so in a way that is compatible with the systems of most industry participants.45 The Commission notes, importantly, that the Exchanges recognize that they remain the SROs that are legally responsible for their primary listing market functions, even though certain messages, such as primary listing market notifications, would be disseminated with a ‘‘P’’ in addition to the primary listing market designation.46 The Commission further notes that, under the proposals, volume associated with opening and closing transactions for NYSE-listed securities would be reported only as NYSE volume to avoid double counting. The Commission also finds that the proposed revisions to Rule 49’s requirements concerning NYSE members and member organizations are consistent with the Act. Rule 49, as sroberts on DSK5SPTVN1PROD with NOTICES 43 See FIF Letter, supra note 4, at 1. 44 The NYSE also provided additional justification for utilizing a primary market print for the opening and closing transactions, including that private corporate transactional contracts involving stock purchases or valuations frequently make reference to the primary market print rather than to the CTA print and that the pricing and valuation of certain indices, funds, and derivative products require primary market prints. 45 The Commission acknowledges that the proposed rule changes could require systems changes across the industry, and it appreciates the points that the FIF Letter raises concerning testing and implementation. The Exchanges represent that they are working with FIF and other industry participants to promote smooth adoption of the changes. Moreover, the Exchanges have stated that the proposals, as amended, incorporate feedback received from market participants who took part in an industry-wide test of the proposed changes. 46 See, e.g., NYSE Notice, supra note 3, 78 FR at 48524 n.9. VerDate Mar<15>2010 17:14 Nov 12, 2013 Jkt 232001 revised, would require NYSE members and member organizations wishing to trade NYSE-listed securities during an Emergency Condition to be responsible for having contingency plans to establish connectivity to NYSE Arca and for routing quotes and orders there. As the FIF Letter points out, these revised provisions should help ensure that the firms transacting in NYSE- or NYSE MKT-listed securities on NYSE Arca have experience doing so. And while the Exchanges propose to eliminate the current NYSE rule’s requirement that NYSE DMMs be subject to NYSE Arca quoting obligations for Market Makers, DMMs trading NYSE- or NYSE MKTlisted securities on NYSE Arca during an emergency would not receive any special benefits in connection with such trading. DMMs that wish to act as NYSE Arca Market Makers during an Emergency Condition would have to apply for and obtain Market Maker status on NYSE Arca in advance. Finally, the Commission finds the proposals consistent with the Act to the extent that they would subject all trading on NYSE Arca during an Emergency Condition to NYSE Arca rules, surveillance, and discipline. Current Rule 49 already establishes that NYSE Arca trading rules would apply to trading on its facility in NYSE-listed stocks during an emergency, and this would remain unchanged under the proposals. Accordingly, the Commission finds it appropriate for NYSE Arca to be the SRO responsible for enforcing its rules with respect to trading that occurs on its facility. The Commission notes again, however, that these proposed provisions do not alter the NYSE’s or NYSE MKT’s responsibilities as primary listing markets. V. Conclusion For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.48 Elizabeth M. Murphy, Secretary. [FR Doc. 2013–27052 Filed 11–12–13; 8:45 am] BILLING CODE 8011–01–P 47 15 U.S.C. 78s(b)(2). 48 17 CFR 200.30–3(a)(12); 17 CFR 200.30– 3(a)(83). Frm 00116 Fmt 4703 SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Far Vista Petroleum Corp.; Order of Suspension of Trading November 8, 2013. It appears to the Securities and Exchange Commission that the public interest and the protection of investors require a suspension of trading in the securities of Far Vista Petroleum Corp. (‘‘FVSTA’’) because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, FVSTA’s business prospects, operations, and control. FVSTA is a Nevada corporation based in Levittown, NY. It is quoted on the OTC Link under the symbol FVSTA. 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. EST on November 8, 2013 through 11:59 p.m. EST on November 21, 2013. By the Commission. Elizabeth M. Murphy, Secretary. [FR Doc. 2013–27238 Filed 11–8–13; 4:15 pm] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION [Docket No. SSA–2013–0057] Cost-of-Living Increases and Other Determinations for 2014; Correction Social Security Administration. Notice; Correction. AGENCY: IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Act,47 that the proposed rules changes (SR–NYSE–2013–54; SR–NYSEMKT– 2013–66; and SR–NYSEARCA–2013–77) as amended, be, and hereby are, approved. PO 00000 68133 Sfmt 4703 ACTION: The Social Security Administration published a document in the Federal Register of November 5, 2013, concerning the cost-of-living increase in Social Security benefits effective December 2013. The document contains an incorrect number for the special minimum primary insurance amount (PIA) for 16 years of coverage. FOR FURTHER INFORMATION CONTACT: Susan C. Kunkel, 410–965–3000. SUMMARY: Correction In the Federal Register of November 5, 2013, in FR Doc. 2013–26569, on page 66414, in the second column, replace the ‘‘PIA’’ amount for ‘‘16 years of E:\FR\FM\13NON1.SGM 13NON1

Agencies

[Federal Register Volume 78, Number 219 (Wednesday, November 13, 2013)]
[Notices]
[Page 68133]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-27238]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


 In the Matter of Far Vista Petroleum Corp.; Order of Suspension 
of Trading

November 8, 2013.
    It appears to the Securities and Exchange Commission that the 
public interest and the protection of investors require a suspension of 
trading in the securities of Far Vista Petroleum Corp. (``FVSTA'') 
because of questions that have been raised about the accuracy and 
adequacy of publicly disseminated information concerning, among other 
things, FVSTA's business prospects, operations, and control. FVSTA is a 
Nevada corporation based in Levittown, NY. It is quoted on the OTC Link 
under the symbol FVSTA.
    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. EST on 
November 8, 2013 through 11:59 p.m. EST on November 21, 2013.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-27238 Filed 11-8-13; 4:15 pm]
BILLING CODE 8011-01-P
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