Order of Suspension of Trading; In the Matter of Pioneer Exploration, Inc., Premier Brands, Inc., and Private Media Group, Inc., 26597-26598 [2016-10407]
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Federal Register / Vol. 81, No. 85 / Tuesday, May 3, 2016 / Notices
distribution (or, a special distribution,
corrective distribution, or net income
distribution) will continue to provide at
least three business days’ advance
notice (or longer advance notice as may
be required by the Exchange) 16 of such
an event, as currently required.17
With respect to the proposed changes
to the Underlying Benchmarks for the
AccuShares S&P® GSCI® Crude Oil Spot
Fund and the AccuShares S&P® GSCI®
Natural Gas Spot Fund, the Commission
agrees that the excess return variant—
which, in contrast to the spot variant,
captures the cost or benefit of
transacting out of the current or frontmonth expiry contract and into the next
or following futures contract—is not a
novel or unique index variant and is one
that is employed by other types of
exchange-traded products.18 The
Commission believes that the proposed
changes to the Underlying Benchmarks
for the AccuShares S&P® GSCI® Crude
Oil Spot Fund and the AccuShares
S&P® GSCI® Natural Gas Spot Fund are
reasonable because the excess return
variant for these Underlying
Benchmarks, which contains the cost or
benefit of the roll forward, is reasonably
designed to permit more efficient
hedging with conventional futures
contracts.19
With respect to the proposal to reset
the Share Index Factors of the VIX Fund
more frequently (i.e., weekly), the
Commission believes that more frequent
resets of the Share Index Factors for the
VIX Fund are reasonably designed to
benefit market participants that trade
shares of the VIX Fund because the
increased frequency may improve the
arbitrage function of the shares by
aligning the setting of the Share Index
Factors with the expiry of each weekly
VIX futures contract, and because the
Share Index Factor will reset with a
frequency closer to the daily
measurements of spot VIX. The changes
to the VIX Fund support the prospect of
improved and simplified arbitrage and
hedging of VIX Fund shares because the
settlement of the shorter VIX futures
will coincide with each Share Index
Factor reset. In addition, the potentially
improved hedgeability of the VIX Fund
shares as a result of the proposed
asabaliauskas on DSK3SPTVN1PROD with NOTICES
16 The
Exchange may determine that longer notice
is advisable in some circumstances (e.g., an
extended market break).
17 See Notice, supra note 3, 81 FR at 14492.
18 See id., 81 FR at 14492 n.25 and accompanying
text.
19 The Exchange represents that the excess return
variant is an index variant that (1) has been used
by and is familiar to market makers and other
market participants; and (2) is directly hedgeable
with conventional futures contracts, which contain
the cost or benefit of the roll forward. See id., 81
FR at 14492.
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changes is expected to bring the share
trading prices closer aligned with the
corresponding share Class Values,
which are tied directly to changes in
spot VIX values.
The Commission notes that it received
two comments regarding the proposed
rule change: one comment supporting
the proposal; and another comment
addressing exchange-traded funds
generally. The Commission notes that
the issue raised by the latter comment
does not squarely address the Paired
Class Shares, which are the subject of
this proposed rule change.20
For the foregoing reasons, the
Commission finds that the proposed
rule change is consistent with Section
6(b)(5) of the Act 21 and the rules and
regulations thereunder applicable to a
national securities exchange.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act, that the
proposed rule change (SR–NASDAQ–
2016–034) be, and it hereby is,
approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.22
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–10271 Filed 5–2–16; 8:45 am]
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SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
Extension:
Form SD, SEC File No. 270–647, OMB
Control No. 3235–0697.
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’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collection of information
discussed below.
Form SD (17 CFR 249b–400) under
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.) (‘‘Exchange Act’’)
pursuant to Section 13(p)(15 U.S.C.
78m(p)) of the Exchange Act is filed by
20 See
supra note 4.
U.S.C. 78f(b)(5).
22 17 CFR 200.30–3(a)(12).
21 15
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26597
issuers to provide disclosures regarding
the source and chain of custody of
certain minerals used in their products.
The information provided is mandatory
and all information is made available to
the public upon request. We estimate
that Form SD takes approximately
480.61 hours per response to prepare
and is filed by approximately 864
issuers. We estimate that 75% of the
480.61 hours per response (360.46
hours) is prepared by the issuer
internally for a total annual burden of
311,437 hours (360.46 hours per
response × 864 responses).
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid
control number.
The public may view the background
documentation for this information
collection at the following Web site,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Pamela
Dyson, Director/Chief Information
Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon,
100 F Street NE., Washington, DC 20549
or send an email to: PRA_Mailbox@
sec.gov. Comments must be submitted to
OMB within 30 days of this notice.
Dated: April 27, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–10267 Filed 5–2–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
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[File No. 500–1]
Order of Suspension of Trading; In the
Matter of Pioneer Exploration, Inc.,
Premier Brands, Inc., and Private
Media Group, Inc.
April 29, 2016.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Pioneer
Exploration, Inc. (CIK No. 1364123), a
revoked Nevada corporation with its
principal place of business listed as
Newport Beach, California, with stock
quoted on OTC Link (previously, ‘‘Pink
Sheets’’) operated by OTC Markets
Group Inc. (‘‘OTC Link’’) under the
ticker symbol PIEX, because it has not
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26598
Federal Register / Vol. 81, No. 85 / Tuesday, May 3, 2016 / Notices
filed any periodic reports since the
period ended May 31, 2013. On August
19, 2015, a delinquency letter was sent
by the Division of Corporation Finance
to Pioneer Exploration requesting
compliance with its periodic filing
obligations, but it did not receive the
delinquency letter due to its failure to
maintain a valid address on file with the
Commission as required by Commission
rules (Rule 301 of Regulation S–T, 17
CFR 232.301 and Section 5.4 of EDGAR
Filer Manual).
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Premier
Brands, Inc. (CIK No. 1502777), a
Wyoming corporation with its principal
place of business listed as Bonita,
California, with stock quoted on OTC
Link under the ticker symbol BRND,
because it has not filed any periodic
reports since the period ended May 31,
2013. On August 19, 2015, a
delinquency letter was sent by the
Division of Corporation Finance to
Premier Brands, Inc. requesting
compliance with its periodic filing
obligations, and Premier Brands, Inc.
received the delinquency letter on
August 22, 2015, but failed to cure its
delinquencies.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Private
Media Group, Inc. (CIK No. 1068084), a
Nevada corporation with its principal
place of business listed as Barcelona,
Spain, with stock quoted on OTC Link
under the ticker symbol PRVT, because
it has not filed any periodic reports
since the period ended June 30, 2013.
On August 18, 2015, a delinquency
letter was sent by the Division of
Corporation Finance to Private Media
Group, Inc. requesting compliance with
its periodic filing obligations, but it did
not receive the delinquency letter due to
its failure to maintain a valid address on
file with the Commission as required by
Commission rules (Rule 301 of
Regulation S–T, 17 CFR 232.301 and
Section 5.4 of EDGAR Filer Manual).
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
companies.
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 companies
is suspended for the period from 9:30
a.m. EDT on April 29, 2016, through
11:59 p.m. EDT on May 12, 2016.
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By the Commission.
Brent J. Fields,
Secretary.
of the most significant parts of such
statements.
[FR Doc. 2016–10407 Filed 4–29–16; 11:15 am]
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SECURITIES AND EXCHANGE
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[Release No. 34–77734; File No. SR–
NYSEMKT–2016–49]
Self-Regulatory Organizations; NYSE
MKT LLC; Notice of Filing of Proposed
Rule Change Amending the Definition
of ‘‘Block’’ for Purposes of Rule
72(d)—Equities and the Size of a
Proposed Cross Transaction Eligible
for the Cross Function in Rule 76—
Equities
April 27, 2016.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on April 22,
2016, NYSE MKT LLC (the ‘‘Exchange’’
or ‘‘NYSE MKT’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I and II,
below, which Items have been prepared
by the self-regulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
definition of ‘‘block’’ for purposes of
Rule 72(d)—Equities and the size of a
proposed cross transaction eligible for
the Cross Function in Rule 76—Equities.
The proposed rule change is available
on the Exchange’s Web site at
www.nyse.com, at the principal office of
the Exchange, and at the Commission’s
Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
on the proposed rule change. The text
of those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
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A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend the
definition of ‘‘block’’ for purposes of
Rule 72(d)—Equities and the size of a
proposed cross transaction eligible for
the Cross Function in Rule 76—Equities.
Under Rule 72(d)—Equities, when a
member 4 has an order to buy and an
order to sell an equivalent amount of the
same security, and both orders are
‘‘block’’ orders, the member may cross
those orders at a price at or within the
Exchange best bid or offer and does not
have to break up the cross transaction to
trade with any bids or offers previously
displayed at the Exchange best bid or
offer, including any interest with
priority. For purposes of Rule 72(d)—
Equities, a ‘‘block’’ is at least 10,000
shares or a quantity of stock having a
market value of $200,000 or more,
whichever is less.
Further, Rule 76—Equities governs
the execution of ‘‘cross’’ or ‘‘crossing’’
orders by Floor Brokers. Rule 76—
Equities applies only to manual
transactions executed at the point of
sale on the trading floor and provides
that when a member has an order to buy
and an order to sell the same security
that can be crossed at the same price,
the member is required to announce to
the trading crowd the proposed cross by
offering the security at a price that is
higher than his or her bid by a
minimum variation permitted in the
security before crossing the orders. Any
other member, including the DMM, can
break up the announced bid and offer by
trading with either side of the proposed
cross transaction. Supplementary [sic]
.10 to Rule 76—Equities provides for a
‘‘Cross Function’’ that Floor brokers
may use to monitor compliance with
Rule 611 of Regulation NMS. To be
eligible for this Cross Function, the
proposed cross transaction must be for
at least 10,000 shares or a quantity of
stock having a market value of $200,000
or more.
The Exchange proposes to amend the
permissible size of a crossing
transaction permitted under Rule
72(d)—Equities and Supplementary
Material .10 to Rule 76—Equities to be
4 The reference to ‘‘member’’ in Rule 72(d)—
Equities and this rule proposal means only Floor
Broker members. Designated Market Makers
(‘‘DMMs’’), while members of the Exchange, do not
have any agency relationships, and are therefore not
able to effect this type of transaction.
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[Federal Register Volume 81, Number 85 (Tuesday, May 3, 2016)]
[Notices]
[Pages 26597-26598]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10407]
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SECURITIES AND EXCHANGE COMMISSION
[File No. 500-1]
Order of Suspension of Trading; In the Matter of Pioneer
Exploration, Inc., Premier Brands, Inc., and Private Media Group, Inc.
April 29, 2016.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Pioneer Exploration, Inc. (CIK No. 1364123), a revoked Nevada
corporation with its principal place of business listed as Newport
Beach, California, with stock quoted on OTC Link (previously, ``Pink
Sheets'') operated by OTC Markets Group Inc. (``OTC Link'') under the
ticker symbol PIEX, because it has not
[[Page 26598]]
filed any periodic reports since the period ended May 31, 2013. On
August 19, 2015, a delinquency letter was sent by the Division of
Corporation Finance to Pioneer Exploration requesting compliance with
its periodic filing obligations, but it did not receive the delinquency
letter due to its failure to maintain a valid address on file with the
Commission as required by Commission rules (Rule 301 of Regulation S-T,
17 CFR 232.301 and Section 5.4 of EDGAR Filer Manual).
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Premier Brands, Inc. (CIK No. 1502777), a Wyoming corporation with its
principal place of business listed as Bonita, California, with stock
quoted on OTC Link under the ticker symbol BRND, because it has not
filed any periodic reports since the period ended May 31, 2013. On
August 19, 2015, a delinquency letter was sent by the Division of
Corporation Finance to Premier Brands, Inc. requesting compliance with
its periodic filing obligations, and Premier Brands, Inc. received the
delinquency letter on August 22, 2015, but failed to cure its
delinquencies.
It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Private Media Group, Inc. (CIK No. 1068084), a Nevada corporation with
its principal place of business listed as Barcelona, Spain, with stock
quoted on OTC Link under the ticker symbol PRVT, because it has not
filed any periodic reports since the period ended June 30, 2013. On
August 18, 2015, a delinquency letter was sent by the Division of
Corporation Finance to Private Media Group, Inc. requesting compliance
with its periodic filing obligations, but it did not receive the
delinquency letter due to its failure to maintain a valid address on
file with the Commission as required by Commission rules (Rule 301 of
Regulation S-T, 17 CFR 232.301 and Section 5.4 of EDGAR Filer Manual).
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 companies.
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 companies is suspended for the period from 9:30 a.m. EDT
on April 29, 2016, through 11:59 p.m. EDT on May 12, 2016.
By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2016-10407 Filed 4-29-16; 11:15 am]
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