In the Matter of Michael Resnick, CPA
On May 21, 2008, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions (Order) against Michael Resnick. The Commission found, among other things, that on May 16, 2008, the U. S. District Court for the District of Maryland entered a final judgment, permanently enjoining Resnick from future violations of Sections 10(b) and 13(b)(5) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 10b-5 and 13b2-1 thereunder, and aiding and abetting violations of Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and Rules 12b-20 and 13a-1 thereunder.
The Commission ordered that Resnick be suspended from appearing or practicing before the Commission as an accountant. Resnick consented to the issuance of the Order without admitting or denying the findings in the Order.
The Commission's investigation is continuing. The Commission acknowledges the assistance and cooperation of the Office of the United States Attorney for the Southern District of New York and the New York Office of the Federal Bureau of Investigation. (34-57846; AAE Rel. 2831; File No. 3-13043)
Approval of Proposed Rule Change
The Commission granted approval to a proposed rule change (SR-NYSEArca-2008-09), as modified by Amendment Nos. 1 and 2 thereto, filed by NYSE Arca, Inc., through its wholly owned subsidiary, NYSE Arca Equities, Inc., relating to the listing and trading of shares of the AirShares™ EU Carbon Allowances Fund. Publication is expected in the Federal Register during the week of May 26. (Rel. 34-57838)
Immediate Effectiveness of Proposed Rule Changes
The New York Stock Exchange LLC (NYSE) filed a proposed rule change (File No. SR-NYSE-2008-26), which became effective upon filing, under Section 19(b)(1) of the Exchange Act to amend NYSE Rule 412 to conform to FINRA incorporated versions of NYSE Rule 412. Publication is expected in the Federal Register during the week of May 26. (Rel. 34-57841)
A proposed rule change, and Amendment No. 1 thereto, filed by the New York Stock Exchange LLC (SR-NYSE-2008-32) to amend NYSE Rule 123A.30 to permit certain convert-and-parity orders to trade on parity with other limit orders, including orders entered through its Designated Order Turnaround System®, has become immediately effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of May 26. (Rel. 34-57845)
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