Sunshine Act Meeting, 64038 [2015-26972]

Download as PDF 64038 Federal Register / Vol. 80, No. 204 / Thursday, October 22, 2015 / Notices order flow to competing venues. In such an environment, the Exchange must continually review, and consider adjusting, its fees to remain competitive with other exchanges. For the reasons described above, the Exchange believes that the proposed fee change reflects this competitive environment. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act,9 and subparagraph (f)(2) of Rule 19b–4 thereunder,10 because it establishes a due, fee, or other charge imposed by ISE. At any time within 60 days of the filing of such proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or 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: All submissions should refer to File Number SR–ISE–2015–32. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street NE., Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 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–ISE– 2015–32 and should be submitted by November 12, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Brent J. Fields, Secretary. [FR Doc. 2015–26806 Filed 10–21–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File No. SR–ISE– 2015–32 on the subject line. tkelley on DSK3SPTVN1PROD with NOTICES Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. 9 15 18:05 Oct 21, 2015 Dated: October 19, 2015. Brent J. Fields, Secretary. [FR Doc. 2015–26972 Filed 10–20–15; 11:15 am] U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). 10 17 VerDate Sep<11>2014 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 Monday, October 26, 2015, at 1:00 p.m., in the Auditorium (L–002) at the Commission’s headquarters building, to hear oral argument in an appeal from an initial decision of an administrative law judge by Respondents ZPR Investment Management, Inc. (‘‘ZPRIM’’), and Max E. Zavanelli (‘‘Zavanelli’’). On May 27, 2014, the law judge found that ZPRIM violated Sections 206(1), (2), and (4) of the Investment Advisers Act of 1940 and Advisers Act Rule 206(4)– 1(a)(5), by misrepresenting compliance with the Global Investment Performance Standards (‘‘GIPS’’) in magazine advertisements and investment report newsletters. The initial decision also found that Zavanelli aided, abetted, and caused, and was primarily liable under Sections 206(1) and (2) for, each of ZPRIM’s violations based on these misrepresentations. In addition, the law judge found that ZPRIM violated Sections 206(2) and (4) and Rule 206(4)–1(a)(5) by negligently claiming in a Morningstar report for the period ended September 30, 2010 that (a) an independent third party had verified ZPRIM’s compliance with GIPS ‘‘to the present,’’ and (b) ZPRIM was not under Commission investigation, although neither of these things was true. The law judge also found that ZPRIM violated Sections 206(1), (2), and (4) and Rule 206(4)–1(a)(5) by repeating its false claim that it was not under Commission investigation in a Morningstar report for the period ended March 31, 2011. The initial decision found that Zavanelli caused each of ZPRIM’s Morningstar violations but did not aid and abet them. For these violations, the law judge barred Zavanelli from association with any investment adviser, broker, dealer, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization; ordered ZPRIM to cease and desist from committing, and Zavanelli to cease and desist from committing, aiding, abetting, or causing the commission of, any violations or future violations of Advisers Act Sections 206(1), (2), and (4) and Rule 206(4)–1(a)(5); and imposed civil money penalties of $250,000 on ZPRIM and $660,000 on Zavanelli. Respondents appealed the initial decision’s findings of violation and the sanctions imposed. The issues likely to be considered at oral argument include, among other things, whether Respondents violated the antifraud provisions as alleged and, if so, what sanction, if any, is appropriate in the public interest. For further information, please contact the Office of the Secretary at (202) 551–5400. 11 17 Jkt 238001 PO 00000 CFR 200.30–3(a)(12). Frm 00082 Fmt 4703 Sfmt 9990 BILLING CODE 8011–01–P E:\FR\FM\22OCN1.SGM 22OCN1

Agencies

[Federal Register Volume 80, Number 204 (Thursday, October 22, 2015)]
[Notices]
[Page 64038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-26972]


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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 Monday, October 
26, 2015, at 1:00 p.m., in the Auditorium (L-002) at the Commission's 
headquarters building, to hear oral argument in an appeal from an 
initial decision of an administrative law judge by Respondents ZPR 
Investment Management, Inc. (``ZPRIM''), and Max E. Zavanelli 
(``Zavanelli'').
    On May 27, 2014, the law judge found that ZPRIM violated Sections 
206(1), (2), and (4) of the Investment Advisers Act of 1940 and 
Advisers Act Rule 206(4)-1(a)(5), by misrepresenting compliance with 
the Global Investment Performance Standards (``GIPS'') in magazine 
advertisements and investment report newsletters. The initial decision 
also found that Zavanelli aided, abetted, and caused, and was primarily 
liable under Sections 206(1) and (2) for, each of ZPRIM's violations 
based on these misrepresentations.
    In addition, the law judge found that ZPRIM violated Sections 
206(2) and (4) and Rule 206(4)-1(a)(5) by negligently claiming in a 
Morningstar report for the period ended September 30, 2010 that (a) an 
independent third party had verified ZPRIM's compliance with GIPS ``to 
the present,'' and (b) ZPRIM was not under Commission investigation, 
although neither of these things was true. The law judge also found 
that ZPRIM violated Sections 206(1), (2), and (4) and Rule 206(4)-
1(a)(5) by repeating its false claim that it was not under Commission 
investigation in a Morningstar report for the period ended March 31, 
2011. The initial decision found that Zavanelli caused each of ZPRIM's 
Morningstar violations but did not aid and abet them.
    For these violations, the law judge barred Zavanelli from 
association with any investment adviser, broker, dealer, municipal 
securities dealer, municipal advisor, transfer agent, or nationally 
recognized statistical rating organization; ordered ZPRIM to cease and 
desist from committing, and Zavanelli to cease and desist from 
committing, aiding, abetting, or causing the commission of, any 
violations or future violations of Advisers Act Sections 206(1), (2), 
and (4) and Rule 206(4)-1(a)(5); and imposed civil money penalties of 
$250,000 on ZPRIM and $660,000 on Zavanelli.
    Respondents appealed the initial decision's findings of violation 
and the sanctions imposed. The issues likely to be considered at oral 
argument include, among other things, whether Respondents violated the 
antifraud provisions as alleged and, if so, what sanction, if any, is 
appropriate in the public interest.
    For further information, please contact the Office of the Secretary 
at (202) 551-5400.

    Dated: October 19, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-26972 Filed 10-20-15; 11:15 am]
BILLING CODE 8011-01-P
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