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62500 Federal Register / Vol. 72, No.

213 / Monday, November 5, 2007 / Notices

products and if so, that it satisfies the Sunshine Act, Pub. L. 94–409, that the lack of current and accurate information
statutory conditions for notice Securities and Exchange Commission concerning the securities of BIMS
registration. will hold the following meeting during Renewable Energy, Inc. (n/k/a Tung
The total annual burden imposed by the week of November 5, 2007: Ding Resources, Inc.), because it has not
Rule 15b11–1 and Form BD–N is A Closed Meeting will be held on filed a periodic report since the period
approximately 8 hours, based on Thursday, November 8, 2007 at 2 p.m. ended June 30, 2004.
approximately 16 responses (16 initial Commissioners, Counsel to the The Commission is of the opinion that
filings + 0 amendments). Each initial Commissioners, the Secretary to the the public interest and the protection of
filing requires approximately 30 Commission, and recording secretaries investors require a suspension of trading
minutes to complete and each will attend the closed meeting. Certain in the securities of the above-listed
amendment requires approximately 15 staff members who have an interest in company.
minutes to complete. There is no annual the matters may also be present. Therefore, it is ordered, pursuant to
cost burden. The General Counsel of the section 12(k) of the Securities Exchange
The Commission will use the Commission, or his designee, has Act of 1934, that trading in the
information collected pursuant to Rule certified that, in his opinion, one or securities of the above-listed company is
15b11–1 to elicit basic identification more of the exemptions set forth in 5 suspended for the period from 9:30 a.m.
information as well as information that U.S.C. 552b(c)(3), (5), (6), (7), (8), (9)(B), EDT on November 1, 2007 through
will allow the Commission to ensure and (10) and 17 CFR 200.402(a)(3), (5), 11:59 p.m. EST on November 14, 2007.
that the futures commission merchants (6), (7), (8), 9(ii) and (10), permit
and introducing brokers meet the By the Commission.
consideration of the scheduled matters
statutory conditions to register by notice at the closed meeting. Jill M. Peterson,
pursuant to section 15(b)(11) of the Commissioner Casey, as duty officer, Assistant Secretary.
Exchange Act. This information will voted to consider the items listed for the [FR Doc. 07–5519 Filed 11–1–07; 10:37 am]
assist the Commission in fulfilling its closed meeting in closed session. BILLING CODE 8011–01–P
regulatory obligations. The subject matter of the closed
Completing and filing Form BD–N is meeting scheduled for Thursday,
mandatory in order for an eligible November 8, 2007 will be: SECURITIES AND EXCHANGE
futures commission merchant or Formal orders of investigation; COMMISSION
introducing broker to engage in notice- Institution and settlement of
registered broker-dealer activity. injunctive actions; [Release No. 34–56707; File No. SR–Amex–
Compliance with Rule 15b11–1 does not Institution and settlement of 2007–111]
involve the collection of confidential administrative proceedings of an
information. Please note that an agency enforcement nature; Self-Regulatory Organizations;
may not conduct or sponsor, and a Adjudicatory matters; American Stock Exchange LLC; Notice
person is not required to respond to, a Resolution of litigation claims; of Filing and Immediate Effectiveness
collection of information unless it Collection matter; of Proposed Rule Change To Enable
displays a currently valid control Regulatory matter regarding a Settlements of Disciplinary Matters To
number. financial institution; and Be Considered for Approval or
Comments should be directed to (i) Other matters related to enforcement Rejection by Exchange Hearing
Desk Officer for the Securities and actions. Officers Without the Need To Convene
Exchange Commission, Office of At times, changes in Commission a Formal Hearing
Information and Regulatory Affairs, priorities require alterations in the
Office of Management and Budget, October 26, 2007.
scheduling of meeting items.
Room 10102, New Executive Office For further information and to Pursuant to section 19(b)(1) of the
Building, Washington, DC 20503 or by ascertain what, if any, matters have been Securities Exchange Act of 1934
sending an e-mail to: added, deleted or postponed, please (‘‘Act’’) 1 and Rule 19b–4 thereunder,2
Alexander_T._Hunt@omb.eop.gov; and contact: notice is hereby given that on October
(ii) R. Corey Booth, Director/Chief The Office of the Secretary at (202) 19, 2007, the American Stock Exchange
Information Officer, Securities and 551–5400. LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with
Exchange Commission, c/o Shirley the Securities and Exchange
Dated: October 30, 2007. Commission (‘‘Commission’’) the
Martinson, 6432 General Green Way,
Alexandria, VA 22312 or send an e-mail Nancy M. Morris, proposed rule change as described in
to: PRA_Mailbox@sec.gov. Comments Secretary. Items I and II below, which Items have
must be submitted within 30 days of [FR Doc. E7–21638 Filed 11–2–07; 8:45 am] been substantially prepared by Amex.
this notice. BILLING CODE 8011–01–P The Exchange filed the proposal as a
October 29, 2007. ‘‘non-controversial’’ rule change
Florence E. Harmon,
pursuant to section 19(b)(3)(A)(iii) of the
SECURITIES AND EXCHANGE Act 3 and Rule 19b–4(f)(6) thereunder,4
Deputy Secretary. COMMISSION which renders the proposal effective
[FR Doc. E7–21664 Filed 11–2–07; 8:45 am] upon receipt of this filing by the
BILLING CODE 8011–01–P
[File No. 500–1]
Commission. The Commission is
In the Matter of: BIMS Renewable publishing this notice to solicit
Energy, Inc. (n/k/a Tung Ding comments on the proposed rule change
SECURITIES AND EXCHANGE
Resources, Inc.); Order of Suspension from interested persons.
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COMMISSION
of Trading
1 15 U.S.C. 78s(b)(1).
Sunshine Act Meeting November 1, 2007. 2 17 CFR 240.19b–4.
Notice is hereby given, pursuant to It appears to the Securities and 3 15 U.S.C. 78s(b)(3)(A)(iii).

the provisions of the Government in the Exchange Commission that there is a 4 17 CFR 240.19b–4(f)(6).

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Federal Register / Vol. 72, No. 213 / Monday, November 5, 2007 / Notices 62501

I. Self-Regulatory Organization’s Disciplinary Panel (‘‘Panel’’), which matters, without compromising the
Statement of the Terms of Substance of may act solely through its Chair, must quality of the process.
the Proposed Rule Change be convened to consider the Stipulation. In addition, Amex proposes certain
The Exchange proposes to adopt Prior to that hearing, the Chair is non-substantive ‘‘housekeeping’’
changes to sections 1 and 2 of Article V provided with an enforcement staff changes, including elimination of
of the Exchange’s Constitution; Rule 345 memorandum outlining the Stipulation repetitive or unnecessary phrasing;
of the Exchange’s ‘‘Office Rules’’; and and analyzing how the agreed upon creation of certain defined terms for
Rules 2(a), 2(b) and 8 of the Exchange’s sanctions in the Stipulation are ease of reference (i.e., ‘‘Stipulation’’);
‘‘Rules of Procedure in Disciplinary consistent with the Exchange Sanctions and addition of rule cross-references.
Matters’’ in order to enable settlements Guidelines and relevant precedent.5 The
2. Statutory Basis
of disciplinary matters to be considered subsequent hearings generally are
conducted by telephone and consist of The proposed rule change is
for approval or rejection by Exchange
the respondent’s counsel and consistent with sections 6(b)(6), 6(b)(7)
hearing officers without the need to
enforcement staff affirming support for and 6(d) of the Act 6 in that it is
convene a formal hearing.
The text of the proposed rule change the Stipulation. After considering the designed to ensure that members and
is available on the Amex’s Web site at presentation, the Chair issues a written persons associated with members of the
http://www.amex.com, the Office of the decision either (i) approving the Exchange shall be appropriately
Secretary, the Amex and at the Stipulation, (ii) rejecting the disciplined for violation of the
Commission’s Public Reference Room. Stipulation, if the Chair considers the securities laws, the rules or regulations
penalty too lenient, or (iii) imposing a thereunder, or the rules of the Exchange;
II. Self-Regulatory Organization’s lesser penalty than that contained in the provide a fair procedure for imposition
Statement of the Purpose of, and Stipulation, if the Chair considers the of such discipline; and ensure that a
Statutory Basis for, the Proposed Rule agreed upon penalty too severe. record is kept of such proceedings.
Change The above process has proven more
B. Self-Regulatory Organization’s
In its filing with the Commission, time consuming than the Exchange
Statement on Burden on Competition
Amex included statements concerning believes necessary. It typically takes
the purpose of and basis for the several months to schedule the hearing The proposed rule change does not
proposed rule change and discussed any as a result of various scheduling impose any burden on competition that
comments it received on the proposed conflicts among the parties involved, yet is not necessary or appropriate in
rule change. The text of these statements the hearing itself only takes a few furtherance of the purposes of the Act.
may be examined at the places specified minutes and is more formal than C. Self-Regulatory Organization’s
in Item IV below. Amex has prepared substantive, given the negotiated Statement on Comments on the
summaries, set forth in sections A, B, settlement and submission of the Proposed Rule Change Received From
and C below, of the most significant detailed enforcement staff memorandum Members, Participants, or Others
aspects of such statements. in advance of the hearing. Therefore, in
order to streamline the process, the No written comments were solicited
A. Self-Regulatory Organization’s Exchange is proposing to modify its or received with respect to the proposed
Statement of the Purpose of, and rules to allow a Stipulation to be rule change.
Statutory Basis for, the Proposed Rule accepted or rejected by a hearing officer III. Date of Effectiveness of the
Change without conducting a formal hearing. Proposed Rule Change and Timing for
1. Purpose Further, the Exchange is also proposing Commission Action
that the Chair’s power to impose a lesser
The Exchange is proposing Because the foregoing proposed rule
penalty than that contained in a
amendments to sections 1 and 2 of change does not: (A) Significantly affect
Stipulation be eliminated as
Article V of the Exchange’s the protection of investors or the public
unnecessary, in view of the fact that the
Constitution; Rule 345 of the Exchange’s interest; (B) impose any significant
Amex Adjudicatory Counsel, in any
Office Rules; and Rules 2(a), 2(b) and 8 burden on competition; and (C) by its
event, still retains the right to impose a
of the Exchange’s Rules of Procedure in terms, become operative for 30 days
lower sanction if it exercises its right to
Disciplinary Matters in order to from the date on which it was filed, or
call the Chair’s acceptance or rejection
streamline the handling of settlements such shorter time as the Commission
of the Stipulation for review.
of disciplinary matters by permitting In summary, the new proposed may designate, if consistent with the
such matters to be addressed by a single Stipulation consideration procedure protection of investors and the public
Exchange hearing officer, who shall will differ from current practice in only interest, it has become effective
either approve or reject the settlement, two substantive respects: (i) No formal pursuant to Section 19(b)(3)(A) of the
without being required to convene a hearing will now take place before the Act 7 and Rule 19b–4(f)(6) thereunder.8
formal hearing. Chair, as a single hearing officer can A proposed rule change filed under
Under current Amex rules, Rule 19b–4(f)(6) normally may not
consider the Stipulation without a
settlements of disciplinary proceedings become operative prior to 30 days after
formal hearing; and (ii) if a hearing
are handled as follows: Should a
officer deems a penalty in a Stipulation
member, member organization, 6 15 U.S.C. 78f(b)(6), 78f(b)(7), and 78f(d).
to be too severe, he will now reject the
approved person, or a registered or non- 7 15 U.S.C. 78s(b)(3)(A).
Stipulation, rather than propose a lesser 8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
registered employee or prospective
penalty. The Exchange anticipates that 4(f)(6)(iii) requires that a self-regulatory
employee of a member or member
these changes will provide a more organization submit to the Commission written
organization (each a ‘‘respondent’’), on notice of its intent to file the proposed rule change,
efficient and expedient process for
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one side, and enforcement staff of the along with a brief description and text of the
resolution of Exchange disciplinary proposed rule change, at least five business days
Exchange, on the other side, enter into
prior to the date of filing of the proposed rule
a stipulation of facts and consent to a 5 The respondent’s counsel (or the respondent, in change, or such shorter time as designated by the
specified penalty (a ‘‘Stipulation’’), a the event he is not represented) is also concurrently Commission. The Commission notes that Amex has
formal hearing before an Exchange provided with a copy of the memorandum. satisfied the five-day pre-filing notice requirement.

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62502 Federal Register / Vol. 72, No. 213 / Monday, November 5, 2007 / Notices

the date of filing. However, Rule 19b– only one method. The Commission will have been substantially prepared by the
4(f)(6)(iii) permits the Commission to post all comments on the Commission’s Exchange. On October 29, 2007, the
designate a shorter time if such action Internet Web site (http://www.sec.gov/ Exchange filed Amendment No. 1 to the
is consistent with the protection of rules/sro.shtml). Copies of the proposed rule change.3 ISE has
investors and the public interest. The submission, all subsequent designated this proposal as one
Exchange has requested that the amendments, all written statements establishing or changing a due, fee, or
Commission waive the 30-day operative with respect to the proposed rule other charge imposed by the Exchange
delay. change that are filed with the under section 19(b)(3)(A),4 and Rule
The Commission believes that the Commission, and all written 19b–4(f)(2) thereunder,5 which renders
proposed amendments should allow the communications relating to the the proposal effective upon filing with
Exchange to settle disciplinary matters proposed rule change between the the Commission. The Commission is
more efficiently, without affecting the Commission and any person, other than publishing this notice to solicit
rights of respondents in any significant those that may be withheld from the comments on the proposed rule change,
manner. In addition, the Exchange’s public in accordance with the as modified by Amendment No. 1, from
non-substantive changes should help provisions of 5 U.S.C. 552, will be interested persons.
make Amex rules clearer and easier for available for inspection and copying in
the Commission’s Public Reference I. Self-Regulatory Organization’s
readers to understand. The Commission
Room, 100 F Street, NE., Washington, Statement of the Terms of Substance of
believes that for these reasons, waiving
DC 20549, on official business days the Proposed Rule Change
the 30-day operative delay is consistent
with the protection of investors and the between the hours of 10 a.m. and 3 p.m. ISE proposes to amend its Schedule of
public interest. Therefore, the Copies of such filing also will be Fees regarding the Exchange’s API or
Commission designates the proposed available for inspection and copying at login fees. The text of the proposed rule
rule change to be operative upon filing the principal office of Amex. All change is available at the Exchange, the
with the Commission.9 comments received will be posted Commission’s Public Reference Room,
At any time within 60 days of the without change; the Commission does and http://www.ise.com.
filing of such proposed rule change, the not edit personal identifying
information from submissions. You II. Self-Regulatory Organization’s
Commission may summarily abrogate Statement of the Purpose of, and
such rule change if it appears to the should submit only information that
you wish to make available publicly. All Statutory Basis for, the Proposed Rule
Commission that such action is Change
necessary or appropriate in the public submissions should refer to File
interest, for the protection of investors, Number SR–Amex–2007–111 and In its filing with the Commission, ISE
or otherwise in furtherance of the should be submitted on or before included statements concerning the
purposes of the Act. November 26, 2007. purpose of, and basis for, the proposed
For the Commission, by the Division of rule change and discussed any
IV. Solicitation of Comments Market Regulation, pursuant to delegated comments it received on the proposal.
Interested persons are invited to authority.10 The text of these statements may be
submit written data, views and Florence E. Harmon, examined at the places specified in Item
arguments concerning the foregoing, Deputy Secretary. IV below. ISE has prepared summaries,
including whether the proposed rule [FR Doc. E7–21632 Filed 11–2–07; 8:45 am] set forth in sections A, B, and C below,
change is consistent with the Act. BILLING CODE 8011–01–P
of the most significant aspects of such
Comments may be submitted by any of statements.
the following methods: A. Self-Regulatory Organization’s
SECURITIES AND EXCHANGE Statement of the Purpose of, and
Electronic Comments
COMMISSION Statutory Basis for, the Proposed Rule
• Use the Commission’s Internet Change
[Release No. 34–56721; File No. SR–ISE–
comment form (http://www.sec.gov/ 2007–91]
rules/sro.shtml); or 1. Purpose
• Send an e-mail to rule- Self-Regulatory Organizations; ISE charges its market makers a fee for
comments@sec.gov. Please include File International Securities Exchange, each login that a member utilizes for
Number SR–Amex–2007–111 on the LLC; Notice of Filing and Immediate quoting or order entry, with a lesser
subject line. Effectiveness of Proposed Rule charge for logins used for the limited
Paper Comments Change, as Modified by Amendment purpose of ‘‘listening’’ to system
No. 1, Relating to API Fees broadcasts.6 ISE currently has the
• Send paper comments in triplicate following categories of authorized
to Nancy M. Morris, Secretary, October 30, 2007.
logins: (1) Quoting, order entry and
Securities and Exchange Commission, Pursuant to section 19(b)(1) of the listening (allowing the user to enter
100 F Street, NE., Washington, DC Securities Exchange Act of 1934 quotes, orders, and perform all other
20549–1090. (‘‘Act’’),1 and Rule 19b–4 thereunder,2
miscellaneous functions, such as setting
All submissions should refer to File notice is hereby given that on October
Number SR–Amex–2007–111. This file 1, 2007, the International Securities 3 Amendment No. 1 made clarifying changes to

number should be included on the Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’) the original filing and attached a revised Exhibit 5,
subject line if e-mail is used. To help the filed with the Securities and Exchange to reflect intervening changes to the Exchange’s
Commission (‘‘Commission’’) the Schedule of Fees that were made between the filing
Commission process and review your of the original proposed rule change and the
proposed rule change as described in
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comments more efficiently, please use submission of Amendment No. 1.


Items I, II, and III below, which Items 4 15 U.S.C. 78s(b)(3)(A).

9 For purposes only of waiving the 30-day 5 17 CFR 240.19b–4(f)(2).


10 17 CFR 200.30–3(a)(12).
operative delay, the Commission has considered the 6 See Securities Exchange Act Release No. 53522
1 15 U.S.C. 78s(b)(1).
proposed rule’s impact on efficiency, competition, (March 20, 2006), 71 FR 14975 (March 24, 2006)
and capital formation. See 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4. (SR–ISE–2006–09).

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