Sunshine Act Meeting, 32424 [2015-13984]

Download as PDF 32424 Federal Register / Vol. 80, No. 109 / Monday, June 8, 2015 / Notices Dated: June 2, 2015. Robert W. Errett, Deputy Secretary. [FR Doc. 2015–13872 Filed 6–5–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION mstockstill on DSK4VPTVN1PROD with NOTICES 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 June 8, 2015, at 1:00 p.m., in Room 10800 at the Commission’s headquarters building, to hear oral argument in crossappeals by Timbervest, LLC, Joel Barth Shapiro, Walter William Anthony Boden, III, Donald David Zell, Jr., Gordon Jones II (collectively, Respondents), and the Division of Enforcement from an initial decision of an administrative law judge. On August 20, 2014, the law judge found that Timbervest violated Sections 206(1) and 206(2) of the Investment Advisers Act in connection with a repurchase arrangement and real estate commissions. The law judge also found that each of the individual Respondents aided, abetted, and caused the Section 206 violations that were connected to the repurchase agreement. But the law judge concluded that only Shapiro and Boden acted with scienter in furthering Timbervest’s violations related to the real estate commissions; the law judge concluded that Zell and Jones were merely negligent. The law judge accordingly found that Shapiro and Jones aided, abetted, and caused Timbervest’s Sections 206(1) and 206(2) violations, but found that Jones and Zell aided, abetted, and caused only Timbervest’s Section 206(2) violation. The law judge imposed cease-and-desist orders on Respondents and ordered disgorgement. The issues likely to considered at oral argument include whether Respondents violated Advisers Act Sections 206(1) and 206(2) as alleged and, if so, the extent to which they should be sanctioned for those violations. Also likely to be considered at oral argument is whether these administrative proceedings violate the U.S. Constitution. The General Counsel of the Commission, or her designee, has certified that, in her opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 200.402(a)(3), (5), (7), 9(ii) VerDate Sep<11>2014 17:09 Jun 05, 2015 Jkt 235001 and (10), permit consideration of the scheduled matter at the Closed Meeting. Chair White, as duty officer, voted to consider the item listed for the Closed Meeting in closed session, and determined that Commission business required consideration earlier than one week from today. No earlier notice of this Meeting was practicable. The subject matter of June 8, 2015 Closed Meeting will be: Post argument discussion For further information, please contact the Office of the Secretary at (202) 551–5400. Dated: June 2, 2015. Brent J. Fields, Secretary. [FR Doc. 2015–13984 Filed 6–4–15; 11:15 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Extension: Regulation FD; OMB Control No.: 3235–0536, SEC File No. 270–475] Proposed Collection; Comment Request Upon Written Request Copies Available From: Securities and Exchange Commission Office of FOIA Services 100 F Street NE., Washington, DC 20549–2736. 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 of information to the Office of Management Budget for extension and approval. Regulation FD (17 CFR 243.100 et seq.)—Other Disclosure Materials requires public disclosure of material information from issuers of publicly traded securities so that investors have current information upon which to base investment decisions. The purpose of the regulation is to require: (1) An issuer that intentionally discloses material information, to do so through public disclosure, not selective disclosure; and (2) to make prompt public disclosure of material information that was unintentionally selectively disclosed. We estimate that approximately 13,000 issuers make Regulation FD disclosures approximately five times a year for a total of 58,000 submissions annually, not including an estimated 7,000 issuers who file Form 8–K to comply with Regulation FD. We estimate that it takes 5 hours per response (58,000 responses PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 × 5 hours) for a total burden of 290,000 hours annually. In addition, we estimate that 25% of the 5 hours per response (1.25 hours) is prepared by the filer for an annual reporting burden of 72,500 hours (1.25 hours per response × 58,000 responses). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information has practical utility; (b) the accuracy of the agency’s estimate of the burden imposed by the collection of information; (c) ways to enhance the quality, utility, and clarity of the information 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. Please direct your written comments to Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, DC 20549; or send an email to: PRA_ Mailbox@sec.gov. Dated: June 2, 2015. Robert W. Errett, Deputy Secretary. [FR Doc. 2015–13874 Filed 6–5–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Extension: Rule 206(4)–3; OMB Control No. 3235–0242, SEC File No. 270–218] Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. 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 of information to the Office of Management and Budget for extension and approval. Rule 206(4)–3 (17 CFR 275.206(4)–3) under the Investment Advisers Act of 1940, which is entitled ‘‘Cash Payments for Client Solicitations,’’ provides E:\FR\FM\08JNN1.SGM 08JNN1

Agencies

[Federal Register Volume 80, Number 109 (Monday, June 8, 2015)]
[Notices]
[Page 32424]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-13984]


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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 June 8, 2015, at 
1:00 p.m., in Room 10800 at the Commission's headquarters building, to 
hear oral argument in cross-appeals by Timbervest, LLC, Joel Barth 
Shapiro, Walter William Anthony Boden, III, Donald David Zell, Jr., 
Gordon Jones II (collectively, Respondents), and the Division of 
Enforcement from an initial decision of an administrative law judge.
    On August 20, 2014, the law judge found that Timbervest violated 
Sections 206(1) and 206(2) of the Investment Advisers Act in connection 
with a repurchase arrangement and real estate commissions. The law 
judge also found that each of the individual Respondents aided, 
abetted, and caused the Section 206 violations that were connected to 
the repurchase agreement. But the law judge concluded that only Shapiro 
and Boden acted with scienter in furthering Timbervest's violations 
related to the real estate commissions; the law judge concluded that 
Zell and Jones were merely negligent. The law judge accordingly found 
that Shapiro and Jones aided, abetted, and caused Timbervest's Sections 
206(1) and 206(2) violations, but found that Jones and Zell aided, 
abetted, and caused only Timbervest's Section 206(2) violation. The law 
judge imposed cease-and-desist orders on Respondents and ordered 
disgorgement.
    The issues likely to considered at oral argument include whether 
Respondents violated Advisers Act Sections 206(1) and 206(2) as alleged 
and, if so, the extent to which they should be sanctioned for those 
violations. Also likely to be considered at oral argument is whether 
these administrative proceedings violate the U.S. Constitution.
    The General Counsel of the Commission, or her designee, has 
certified that, in her opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the 
scheduled matter at the Closed Meeting.
    Chair White, as duty officer, voted to consider the item listed for 
the Closed Meeting in closed session, and determined that Commission 
business required consideration earlier than one week from today. No 
earlier notice of this Meeting was practicable.
    The subject matter of June 8, 2015 Closed Meeting will be:

Post argument discussion

    For further information, please contact the Office of the Secretary 
at (202) 551-5400.

    Dated: June 2, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-13984 Filed 6-4-15; 11:15 am]
 BILLING CODE 8011-01-P
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