SEC News Digest

COMMISSION ANNOUNCEMENTS

SEC Suspends Trading in The Securities of Tasty Fries, Inc. For Failure to Make Required Periodic Filings

The Securities and Exchange Commission announced today the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934, of trading in the securities of Tasty Fries, Inc. (Tasty Fries) of Blue Bell, Pennsylvania at 9:30 a.m. EDT on Aug. 17, 2009, and terminating at 11:59 p.m. EDT on Aug. 28, 2009.

The Commission temporarily suspended trading in the securities of Tasty Fries due to a lack of current and accurate information about the company because they have not filed any periodic reports with the Commission for over four years.

Tasty Fries is quoted on the OTC Pink Sheets operated by Pink OTC Markets, Inc. under the symbol TFRY. (Rel. 34-60508)

SEC Seeks Comment on Alternative Uptick Rule

The Securities and Exchange Commission today announced that it is seeking public comment on an alternative approach to short selling price test restrictions that may be more effective and easier to implement than previously proposed price test restrictions currently under consideration.

The alternative uptick rule would allow short selling only at an increment above the national best bid. As a result, the Commission has determined to reopen the comment period for 30 days in order to receive input specifically on this alternative.

"Today's request for additional comment is consistent with the very deliberative process of determining what is in the best interest of investors," said SEC Chairman Mary Schapiro. "We want to ensure that everyone has a full opportunity to provide their comments on this alternative uptick rule before the Commission reaches any conclusions."

In April, the Commission proposed two approaches to restricting short selling. One approach would apply on a market-wide and permanent basis, and would implement short sale restrictions based on either the last sale price or the national best bid. The other approach, considered a "circuit-breaker," would apply only to a particular security during severe declines in the price of that security. Once triggered, the circuit breaker would impose a short sale halt or short sale restriction based on either the last sale price or the national best bid.

Unlike proposals in April, the alternative uptick rule would not require monitoring of the sequence of bids (that is, whether the current national best bid is above or below the previous national best bid), and as a result the alternative uptick rule would be easier to monitor. It also may be possible to implement this approach more quickly and with less cost than the prior proposals.

The initial comment period for the April proposals ended on June 19, 2009. The comment period will now be extended for 30 days from the date of publication of an associated notice in the Federal Register. The Commission particularly seeks comments on the alternative uptick rule as a permanent market-wide approach, as well as whether the alternative uptick rule should be combined with a circuit breaker approach. (Press Rel. 2009-185)

INVESTMENT COMPANY ACT RELEASES

Pax World Funds Trust II, et al.

An order has been issued on an application filed by Pax World Funds Trust II, et al. The order permits (a) certain open-end management investment companies and their series, to issue shares (Fund Shares) that can be redeemed only in large aggregations (Creation Units); (b) secondary market transactions in Fund Shares to occur at negotiated prices; (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days after the tender of Fund Shares for redemption; (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of Creation Units; and (e) certain registered management investment companies and unit investment trusts outside of the same group of investment companies as the series to acquire Fund Shares. (Rel. IC-28846 - August 13)

SELF-REGULATORY ORGANIZATIONS

Approval of Proposed Rule Change

The Commission approved a proposed rule change (SR-CBOE-2009-037) submitted pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 by Chicago Board Options Exchange, as modified by Amendment Nos. 1 and 2 thereto, to amend its minor rule violation plan. Publication is expected in the Federal Register during the week of August 17. (Rel. 34-60488)

Proposed Rule Change

The Commission issued notice of a proposed rule change submitted by the Chicago Board Options Exchange (SR-CBOE-2009-057), pursuant to Rule 19b-4 under the Securities Exchange Act of 1934, related to Market-Maker Orders. Publication is expected in the Federal Register during the week of August 17. (Rel. 34-60491)

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change filed by The NASDAQ Stock Market to modify fees for members using the NASDAQ Market Center (SR-NASDAQ-2009-074) has become 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 August 17. (Rel. 34-60492)

The Commission issued notice of filing and immediate effectiveness of proposed rule change (SR-NYSEArca-2009-72) filed by NYSE Arca under Rule 19b-4 of the Securities Exchange Act of 1934 implementing the schedule of fees and charges for exchange services. Publication is expected in the Federal Register during the week of August 17. (Rel. 34-60495)

SECURITIES ACT REGISTRATIONS

• Latest Securities Act registrations (TXT)

RECENT 8K FILINGS

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http://www.sec.gov/news/digest/2009/dig081709.htm