SEC, FINRA Warn Retail Investors About Investing In Structured Notes With Principal Protection
The Securities and Exchange Commission’s Office of Investor Education and Advocacy and the Financial Industry Regulatory Authority (FINRA) have issued an investor alert called Structured Notes with Principal Protection: Note the Terms of Your Investment to educate investors about the risks of structured notes with principal protection, and to help them understand how these complex financial products work. The retail market for these notes has grown in recent years, and while these structured products have reassuring names, they are not risk-free.
Structured notes with principal protection typically combine a zero-coupon bond – which pays no interest until the bond matures — with an option or other derivative product whose payoff is linked to an underlying asset, index or benchmark. The underlying asset, index or benchmark can vary widely, from commonly cited market benchmarks to currencies, commodities and spreads between interest rates. The investor is entitled to participate in a return that is linked to a specified change in the value of the underlying asset. However, investors should know that these notes might be structured in a way such that their upside exposure to the underlying asset, index or benchmark is limited or capped.
Investors who hold these notes until maturity will typically get back at least some of their investment, even if the underlying asset, index or benchmark declines. But protection levels vary, with some of these products guaranteeing as little as 10 percent — and any guarantee is only as good as the financial strength of the company that makes that promise.
“Structured notes with principal protection contain risks that may surprise many investors and can have payout structures that are difficult to understand,” said Lori J. Schock, Director of the SEC’s Office of Investor Education and Advocacy. “This alert is a ‘must read’ for investors considering these products, especially those with the mistaken belief that these investments offer complete downside protection.”
“The current low interest rate environment might make the potentially higher yields offered by structured notes with principal protection enticing to investors,” said FINRA Senior Vice President for Investor Education John Gannon. “But retail investors should realize that chasing a higher yield by investing in these products could mean winding up with an expensive, risky, complex and illiquid investment.”
FINRA and the SEC’s Office of Investor Education and Advocacy are advising investors that structured notes with principal protection can have complicated pay-out structures that can make it hard to accurately assess their risk and potential for growth. Additionally, investors considering these notes should be aware that they could tie up their principal for upwards of a decade with the possibility of no profit on their initial investment. Structured Notes with Principal Protection: Note the Terms of Your Investment also includes a list of questions investors should ask before investing in these products.
Closed Meeting on Thursday, June 9, 2011 at 2:00 p.m.
The subject matter of the Closed Meeting scheduled for Thursday, June 9, 2011, will be: institution and settlement of injunctive actions; institution and settlement of administrative proceedings; and other matters relating to enforcement proceedings.
At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551-5400.
In the Matter of Lodavina Grosnickle
On June 2, 2011, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Notice of Hearing against Lodavina Grosnickle. In the Order the Division of Enforcement alleges that Grosnickle was enjoined from future violations of Section 17(a) of the Securities Act and Sections 10(b) and 15(a) of the Exchange Act and Rule 10b-5 thereunder in the civil action entitled Securities and Exchange Commission v. TG Capital LLC, et al., Civil Action Number SACV 07-00579-CJC (ANx), in the United States District Court for the Central District of California. The Commission’s complaint in the district court action alleged that while acting as an unregistered broker-dealer, Grosnickle offered and sold membership interests in TG Capital, Inc. (TG Capital), and knowingly or recklessly: (1) misrepresented to investors how TG Capital would use investor funds; (2) misrepresented to investors that their investments in TG Capital were guaranteed; and (3) provided forged documents to investors.
A hearing will be scheduled before an Administrative Law Judge to determine whether the allegations contained in the Order are true, to provide Grosnickle an opportunity to respond to these allegations, and to determine what, if any, remedial sanctions are appropriate and in the public interest. An Administrative Law Judge will issue an initial decision no later than 210 days from the date of service of the Commission’s Order. (Rel. 34-64587; File No. 3-14408)
In the Matter of Carl W. Jasper, CPA
On June 2, 2011, the Commission issued an Order Making Findings and Imposing Remedial Sanctions Pursuant to Rule 102(e)(3) of the Commission’s Rules of Practice (Order) against Carl W. Jasper. The Order finds that on November 5, 2010, the United States District Court for the Northern District of California entered an order permanently enjoining Jasper from future violations of Section 17(a)(1) of the Securities Act and Section 10(b) of the Exchange Act and Rules 10b-5, 13a-14, 13b2-1, and 13b2-2 thereunder, and from aiding and abetting any violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 12b-20, 13a-1, 13a-11, and 13a-13 thereunder. It also bars Respondent, for a period of two years, from acting as an officer or director for any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act, 15 U.S.C. § 781, or that is required to file reports pursuant to Section 15(d) of the Exchange Act, 15 U.S.C. § 78o(d), and requires Respondent to reimburse Maxim $1,869,639 and pay a civil penalty of $360,000.
Based on the above, the Order suspends Jasper from appearing or practicing before the Commission as an accountant. After five years, Jasper may request that the Commission consider his reinstatement. Jasper consented to the issuance of the Order without admitting or denying any of the findings in the Order, except he admitted the entry of the injunction. (Rel. 34-64588; AAE Rel. 3286; File No. 3-14177)
SEC Settles Charges With Bruce E. Snyder, Jr., Former Chief Accounting Officer of Waste Management, Inc.
The Securities and Exchange Commission announced today that it settled its civil injunctive action previously filed against Bruce E. Snyder, Jr. (Snyder), in the United States District Court for the Southern District of Texas. Snyder formerly was Chief Accounting Officer of Waste Management, Inc. (WMI). The complaint previously filed in this matter alleged that Snyder, among other things, prepared, reviewed, and signed a materially false or misleading Form 10-Q that Waste Management, Inc. filed with the Commission for the first quarter of its fiscal year ended Dec. 31, 1999.
Snyder, without admitting or denying the allegations in the Commission’s Complaint, consented to an order permanently enjoining him from aiding and abetting violations of Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act), and Exchange Act Rules 12b-20 and 13a-13, the reporting provisions of the federal securities laws. For more information see Litigation Release No. 18422 (Oct. 22, 2003). [SEC v. Bruce E. Snyder, Jr., Civil Action No. 03 CV 4658 (S.D.Tx.)] (LR-21984)
SEC Charges Michael L. Rothenberg and His Company, Four Five, with Securities Fraud
The Securities and Exchange Commission announced the filing of a civil injunctive action in Atlanta, Georgia on June 2, 2011, alleging that Michael L. Rothenberg (Rothenberg) and the company he controlled, Four Five, LLC (Four Five) operated a fraudulent Prime Bank scheme that violated the antifraud provisions of the federal securities laws.
The Commission’s complaint alleges that between at least February 2010 and March 2010, Rothenberg, through Four Five, used misrepresentations and omissions of material fact to induce investors to participate in a secret and allegedly risk-free trading platform or trading facility. This trading platform or trading facility purportedly involved transactions among international banks that would generate substantial return on a recurring basis. Specifically, Rothenberg represented that the trading platform would produce returns in excess of 300% every fourteen days. Rothenberg and Four Five also represented to investors, both orally and in writing, that the majority of their funds would remain at all times in Rothenberg’s attorney trust account, and that all funds invested, along with the profits, would be returned to the investors at the conclusion of the trades. Rothenberg further represented to the investors that the investment was risk-free because their funds would remain in his attorney trust account. Contrary to Defendants’ representations, a risk-free trading process providing the returns promised by Defendants does not exist. Moreover, contrary to Rothenberg’s representations that investor funds would remain in his attorney trust account, Rothenberg began disbursing investor funds within days of receipt of those funds. Between March 2010 and October 2010, at least $210,000 in investor funds were transferred to a bank account designated for contributions to Rothenberg’s judicial election campaign. Rothenberg used another $190,000 of investor funds for personal expenses. Although Rothenberg ultimately returned approximately $910,000 to investors, Defendants have misappropriated at least $800,000 of investor funds.
In its Complaint, the Commission alleges that Rothenberg and Four Five Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. [SEC v. Michael L. Rothenberg, et al., Case No. 1:11-CV-1803 (N.D. GA.)] (LR-21985)
Court Enters Judgment of Civil Penalty and Other Relief Against Defendants Carol McKeown and Daniel F. Ryan and Grants the Commission’s Voluntary Dismissal as to Civil Penalty Claims Against Meadow Vista Financial Corp. and Downshire Capital Inc.
The Commission announced that on May 23, 2011, the Honorable James I. Cohn, United States District Court Judge for the Southern District of Florida entered Judgments of Civil Penalties and Other Relief against Defendants Carol McKeown and Daniel F. Ryan. McKeown and Ryan consented to the entry of the Judgments without admitting or denying the allegations of the Commission’s Complaint. The Judgments order McKeown and Ryan to pay $150,000 each in civil penalties. On the same day, the Court granted the Commission’s request to voluntarily dismiss its claim for civil money penalties against Defendants Meadow Vista Financial Corp. and Downshire Capital Inc., neither of whom is conducting business and who have sought voluntary dissolution.
The Commission previously obtained Judgments of Permanent Injunction and Other Relief against Defendants McKeown, Ryan, Downshire and Meadow Vista which includes permanent injunctions and orders them to pay disgorgement of $3,719,543, representing ill-gotten gains and prejudgment interest of $74,762.81. [Securities and Exchange Commission v. Carol McKeown, et al., Civil Action No. 10-CV-80748- Cohn/Seltzer (S.D. Fla.)] (LR-21986)
PennantPark Investment Corporation, et al.
An order has been issued on an application filed by PennantPark Investment Corporation (Company), et al. for an order under Section 6(c) of the Investment Company Act for an exemption from Sections 18(a) and 61(a) of the Act. The order permits the Company to adhere to a modified asset coverage requirement. (Rel. IC-29686 – June 1)
TIAA-CREF Life Insurance Company, et al.
A notice has been issued giving interested persons until June 27, 2011, to request a hearing on an application filed by TIAA-CREF Life Insurance Company, et al. requesting an order pursuant to Section 26(c) of the Investment Company Act to permit the substitution of shares of a certain registered management investment company with shares of another registered management investment company. (Rel. IC-29687 – June 1)
BAC Home Loan Servicing LP, et al.
The Commission has issued a temporary order to BAC Home Loan Servicing LP, et al., under Section 9(c) of the Investment Company Act with respect to an injunction entered by the U.S. District Court for the Central District of California on or about May 31, 2011. The temporary order exempts applicants from the provisions of Section 9(a) of the Act, until the earlier of July 29, 2011, or until the Commission takes final action on the application for a permanent order. IC-29688 – June 1)
Immediate Effectiveness of Proposed Rule Changes
A proposed rule change submitted by The NASDAQ OMX BX Inc. regarding the correction of an inadvertent error in Exchange Rule 7019(c) (SR-BX-2011-028) 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 June 6. (Rel. 34-64577)
A proposed rule change submitted by NASDAQ OMX PHLX regarding the correction of an inadvertent error in the fee schedule (SR-Phlx-2011-71) 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 June 6. (Rel. 34-64578)
A proposed rule change submitted by The NASDAQ Stock Market regarding the correction of an inadvertent error in NASDAQ Rule 7019(d) (SR-NASDAQ-2011-071) 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 June 6. (Rel. 34-64579)
A proposed rule change filed by NASDAQ OMX PHLX (SR-Phlx-2011-73) relating to customer complex orders has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of June 6. (Rel. 34-64580)
The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue.
Registration statements may be viewed in person in the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. To obtain paper copies, please refer to information on the Commission's Web site at http://www.sec.gov/answers/publicdocs.htm. In most cases, you can view and download this information by using the search function located at http://www.sec.gov/edgar/searchedgar/companysearch.html.
S-4 HSBC Finance Corp, 224-544-2000, 26525 N. RIVERWOODS BLVD., METTAWA, IL, 60045, 224-544-2000 - 0 ($2,938,669,000.00) Debt, (File 333-174628 - Jun. 1) (BR. 07B) S-8 INTREorg SYSTEMS INC., 2600 E. SOUTHLAKE BLVD, SUITE 120-366, SOUTHLAKE, TX, 76092, 817-491-8611 - 2,000,000 ($1,900,000.00) Equity, (File 333-174630 - Jun. 1) (BR. 03A) S-1 Sino Daren Co. Ltd, SUITE 5B, 5F, CHINA HARBOUR BUILDING, 370, KINGS ROAD, NORTH POINT, K3, 00000, 85228156986 - 0 ($250,000.00) Equity, (File 333-174631 - Jun. 1) (BR. 11) S-3 LEAPFROG ENTERPRISES INC, 6401 HOLLIS ST, STE 100, EMERYVILLE, CA, 94608, 5104205000 - 0 ($83,533,385.00) Equity, (File 333-174632 - Jun. 1) (BR. 05B) S-8 SANDISK CORP, 601 MCCARTHY BLVD., MILPITAS, CA, 95035, 4088011000 - 208,913 ($909,620.02) Equity, (File 333-174633 - Jun. 1) (BR. 03B) F-1 Nautilus Marine Acquisition Corp, 90 Kifissias Avenue, Maroussi, J3, 15125, 30 210 876-4858 - 0 ($151,725,100.00) Equity, (File 333-174634 - Jun. 1) (BR. 02) S-8 Lone Pine Resources Inc., 645-7 AVENUE SW, CALGARY, A0, T2P 4G8, 403-292-8000 - 0 ($97,500,000.00) Equity, (File 333-174635 - Jun. 1) (BR. 04A) S-3ASR APPLIED MATERIALS INC /DE, 3050 BOWERS AVE, SANTA CLARA, CA, 95054-3299, 4087275555 - 0 ($0.00) Unallocated (Universal) Shelf, (File 333-174636 - Jun. 1) (BR. 10A) S-8 ARKANSAS BEST CORP /DE/, 3801 OLD GREENWOOD RD, FORT SMITH, AR, 72903, 5017856000 - 0 ($17,038,000.00) Equity, (File 333-174637 - Jun. 1) (BR. 05A) S-8 COINSTAR INC, 1800 114TH AVENUE S E, BELLEVUE, WA, 98004, 4259438000 - 0 ($31,806,000.00) Equity, (File 333-174638 - Jun. 1) (BR. 11A) S-8 BCB BANCORP INC, 860 BROADWAY, BAYONNE, NJ, 07002, 900,000 ($10,053,000.00) Equity, 900,000 ($0.00) Other, (File 333-174639 - Jun. 1) (BR. 07A) S-1 CURRENCYSHARES CHINESE RENMINBI TRUST, 805 KING FARM BOULEVARD, SUITE 600, ROCKVILLE, MD, 20850, 301-296-5100 - 0 ($537,950,000.00) Other, (File 333-174640 - Jun. 1) (BR. ) S-8 ROYAL BANK OF SCOTLAND GROUP PLC, GOGARBURN, PO BOX 1000, EDINBURGH, SCOTLAND, X0, EH12 1HQ, 441315568555 - 0 ($109,780,409.90) Equity, (File 333-174641 - Jun. 1) (BR. 07A) S-1 Cord Blood America, Inc., 1857 HELM DRIVE, LAS VEGAS, NV, 89119, (702) 914-7250 - 20,652,270 ($5,576,113.00) Equity, (File 333-174642 - Jun. 1) (BR. 09A) S-8 Premier Power Renewable Energy, Inc., 4961 WINDPLAY DRIVE, SUITE 100, EL DORADO HILLS, CA, 95762, (916) 939-0400 - 0 ($1,500,000.00) Equity, (File 333-174643 - Jun. 1) (BR. 02C) N-2 Eaton Vance Inflation-Linked Income Credit Trust, C/O EATON VANCE MANAGEMENT, TWO INTERNATIONAL PLACE, BOSTON, MA, 02110, 800-225-6265 - 50,000 ($1,000,000.00) Equity, (File 333-174644 - Jun. 1) (BR. ) S-8 Midas Medici Group Holdings, Inc., 445 PARK AVENUE, 20TH FLOOR, NEW YORK, NY, 10022, 212-792-0921 - 650,000 ($2,275,000.00) Equity, (File 333-174645 - Jun. 1) (BR. 08B) S-3 CAPITAL TRUST INC, 410 PARK AVENUE, 14TH FLOOR, NEW YORK, NY, 10022, 2126550220 - 0 ($500,000,000.00) Other, (File 333-174646 - Jun. 1) (BR. 08A) S-8 GREEN EARTH TECHNOLOGIES, INC, 10 BANK STREET, SUITE 680, WHITE PLAINS, NY, 10606, 914-372-4202 - 40,000,000 ($14,755,957.00) Equity, (File 333-174647 - Jun. 1) (BR. 06C) S-1 Lightwave Logic, Inc., 121 CONTINENTAL DRIVE, SUITE 110, NEWARK, DE, 19713, (302) 356-2717 - 10,000,000 ($12,500,000.00) Equity, (File 333-174648 - Jun. 1) (BR. 06C) S-8 QUALCOMM INC/DE, 5775 MOREHOUSE DR, SAN DIEGO, CA, 92121, 8585871121 - 0 ($515,665,900.00) Equity, (File 333-174649 - Jun. 1) (BR. 11A) S-3ASR Fidelity National Financial, Inc., 601 RIVERSIDE AVENUE, JACKSONVILLE, FL, 32204, 904-854-8100 - 0 ($0.00) Unallocated (Universal) Shelf, (File 333-174650 - Jun. 1) (BR. 01C) S-1 Umami Sustainable Seafood Inc., 1230 COLUMBIA ST.,, SUITE 1100, SAN DIEGO,, CA, 92101, (619) 544-9177 - 23,989,465 ($71,968,395.00) Equity, (File 333-174651 - Jun. 1) (BR. 09B)
Form 8-K is used by companies to file current reports on the following events:
8-K reports may be viewed in person in the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. To obtain paper copies, please refer to information on the Commission's Web site at http://www.sec.gov/answers/publicdocs.htm. In most cases, you can view and download this information by using the search function located at http://www.sec.gov/edgar/searchedgar/companysearch.html.
STATE NAME OF ISSUER CODE 8K ITEM NO. DATE COMMENT AASTROM BIOSCIENCES INC MI 8.01,9.01 06/01/11 AbitibiBowater Inc. DE 8.01,9.01 05/27/11 ACADIA REALTY TRUST MD 7.01,9.01 05/31/11 ACCESS PHARMACEUTICALS INC DE 5.07 05/26/11 AE Biofuels, Inc. 2.01,9.01 05/24/11 AES CORP DE 8.01,9.01 06/01/11 AES CORP DE 1.01,2.03,9.01 05/27/11 ALBANY INTERNATIONAL CORP /DE/ DE 5.07,9.01 05/27/11 ALBANY MOLECULAR RESEARCH INC DE 3.03,9.01 06/01/11 ALEXANDRIA REAL ESTATE EQUITIES INC MD 5.07 05/25/11 ALLSTATE CORP DE 7.01,9.01 06/01/11 Alpha Natural Resources, Inc. DE 1.01,2.01,2.03,2.04, 06/01/11 3.03,5.03,8.01,9.01 ALPHARX INC DE 5.02,9.01 06/01/11 ALTERNATE ENERGY HOLDINGS, INC. NV 5.02,9.01 05/31/11 AMARIN CORP PLC\UK X0 1.01,8.01,9.01 05/25/11 AMBASSADORS GROUP INC DE 9.01 05/31/11 AMEDISYS INC DE 1.01,2.03,9.01 05/26/11 AMERICA SERVICE GROUP INC /DE DE 5.07,8.01,9.01 06/01/11 American Assets Trust, Inc. MD 1.01,2.03,7.01,9.01 06/01/11 AMERIGON INC MI 8.01,9.01 06/01/11 Ameris Bancorp GA 5.07,8.01,9.01 06/01/11 AMKOR TECHNOLOGY INC DE 8.01,9.01 06/01/11 AMP Holding Inc. NV 1.01,3.02,5.02,9.01 05/25/11 AMSURG CORP TN 7.01,9.01 06/01/11 Anchor Bancorp WA 5.02 05/27/11 ANCHOR BANCORP WISCONSIN INC WI 1.01,9.01 05/31/11 ANNALY CAPITAL MANAGEMENT INC MD 5.07 05/26/11 Antero Resources Finance Corp DE 2.02,9.01 05/31/11 APPLIED MATERIALS INC /DE DC 9.01 06/01/11 ARDENT MINES LTD 8.01,9.01 05/31/11 ASIA PROPERTIES INC NV 5.02 05/31/11 Atlantic Resources Inc. NV 5.01,5.02,9.01 05/27/11 Atrinsic, Inc. DE 1.01,2.03,3.02,9.01 05/31/11 AURA SYSTEMS INC DE 1.01 02/28/11 AWARE INC /MA/ MA 5.07 05/25/11 AXION INTERNATIONAL HOLDINGS, INC. CO 5.01 05/25/11 Bancorp of New Jersey, Inc. NJ 5.02,5.07,9.01 05/25/11 BANK JOS A CLOTHIERS INC /DE/ DE 2.02,9.01 06/01/11 BANK OF FLORIDA CORP FL 5.07,8.01 05/23/11 BANNER CORP WA 5.03,8.01,9.01 05/26/11 BASIC ENERGY SERVICES INC 5.02,5.07,9.01 05/24/11 AMEND BEACON POWER CORP DE 1.01,3.03 05/31/11 BELK INC 5.07 05/25/11 BENIHANA INC DE 2.02,9.01 06/01/11 BIG LOTS INC OH 1.01,2.02,5.07,9.01 05/26/11 BIOLASE TECHNOLOGY INC DE 7.01,9.01 05/31/11 BIOLIFE SOLUTIONS INC DE 8.01,9.01 06/01/11 BioMed Realty Trust Inc MD 5.07 05/25/11 BION ENVIRONMENTAL TECHNOLOGIES INC CO 5.02,7.01,9.01 05/31/11 BIOPACK ENVIRONMENTAL SOLUTIONS INC. NV 1.02,9.01 05/31/11 BIOVEST INTERNATIONAL INC DE 7.01,9.01 06/01/11 BLUE COAT SYSTEMS INC DE 5.02,9.01 05/25/11 BLUEFLY INC DE 5.02,9.01 05/31/11 BLUEFLY INC DE 5.02 05/31/11 AMEND BOYD GAMING CORP NV 5.02,5.07 05/26/11 BROCADE COMMUNICATIONS SYSTEMS INC DE 5.07 04/12/11 AMEND Brookdale Senior Living Inc. DE 7.01,9.01 06/01/11 Bunge LTD 5.02,5.07 05/25/11 CalAmp Corp. DE 5.02,8.01,9.01 05/27/11 CALAVO GROWERS INC CA 1.01,7.01,9.01 05/25/11 CAPITAL SENIOR LIVING CORP DE 5.07 05/25/11 CAPSALUS CORP NV 5.02,7.01,9.01 05/27/11 Car Charging Group, Inc. NV 1.01,3.02,9.01 05/27/11 CARMIKE CINEMAS INC DE 5.02,9.01 06/01/11 CASCADE FINANCIAL CORP WA 5.07,8.01,9.01 05/31/11 CBS CORP DE 5.07 05/26/11 CERADYNE INC DE 7.01,9.01 06/01/11 CERNER CORP /MO/ DE 5.03,5.07,8.01,9.01 05/27/11 CF Industries Holdings, Inc. DE 7.01,9.01 06/01/11 CHART INDUSTRIES INC DE 7.01,9.01 06/01/11 CHENIERE ENERGY INC DE 7.01,9.01 06/01/11 CHEVRON CORP DE 5.07 05/25/11 CHIMERA INVESTMENT CORP DE 5.07 05/26/11 China Complant Group Inc NV 1.01 01/31/11 AMEND CHINA EDUCATION INTERNATIONAL, INC. 1.01,2.01,3.02,7.01, 05/31/11 9.01 China Environmental Protection Inc. NV 9.01 02/12/10 AMEND China Lithium Technologies Inc. 8.01 05/30/11 China New Greenfood Co., Ltd NV 1.01,2.01,9.01 03/22/11 CHINA PHARMA HOLDINGS, INC. DE 5.02,9.01 05/25/11 Chineseinvestors.com, Inc. IN 4.02 05/31/11 Chrysler Group LLC DE 8.01,9.01 06/01/11 Citizens Community Bancorp Inc. MD 5.02 05/26/11 CleanTech Biofuels, Inc. 1.01,9.01 05/31/11 Clenergen Corp NV 2.03,3.02,9.01 05/26/11 COLDWATER CREEK INC DE 2.02,9.01 06/01/11 Colfax CORP DE 7.01,9.01 06/01/11 COLUMBIA SPORTSWEAR CO OR 5.07 05/27/11 COLUMBUS MCKINNON CORP NY 2.02,9.01 05/26/11 COMMITTED CAPITAL ACQUISITION Corp DE 1.01,1.02,2.03,9.01 05/27/11 COMMUNICATION INTELLIGENCE CORP DE 4.01,9.01 06/01/11 COMMUNITY FINANCIAL CORP /VA/ VA 2.02,9.01 06/01/11 COMMUNITY FINANCIAL SHARES INC DE 5.07 05/25/11 COMMUNITY WEST BANCSHARES / CA 5.07 06/01/11 COMPLETE GENOMICS INC DE 8.01,9.01 06/01/11 CONSTELLATION BRANDS, INC. DE 5.02,7.01,9.01 05/25/11 CONTINENTAL RESOURCES INC OK 5.07 05/26/11 COSTAR GROUP INC DE 8.01,9.01 06/01/11 CRACKER BARREL OLD COUNTRY STORE, INC TN 7.01,9.01 05/26/11 CRAFT BREWERS ALLIANCE, INC. WA 5.02,9.01 05/25/11 CVD EQUIPMENT CORP NY 8.01 05/27/11 Cyber Supply Inc. NV 1.01,9.01 05/31/11 CYPRESS SEMICONDUCTOR CORP /DE/ DE 1.01 05/12/11 DAKTRONICS INC /SD/ SD 2.02,9.01 06/01/11 DANA HOLDING CORP DE 5.02 05/25/11 DARLING INTERNATIONAL INC DE 1.01,8.01,9.01 05/31/11 DEBT RESOLVE INC DE 5.02,9.01 05/31/11 DEERE & CO DE 7.01 06/01/11 DELCATH SYSTEMS INC DE 5.07,7.01,9.01 05/31/11 DEXCOM INC 5.07 05/25/11 Dialogic Inc. DE 5.07 05/27/11 DIGITAL ALLY INC 5.07,9.01 05/24/11 DIODES INC /DEL/ DE 5.02,5.07,7.01,9.01 05/26/11 DISCOVERY LABORATORIES INC /DE/ DE 8.01,9.01 06/01/11 DJSP Enterprises, Inc. D8 1.01,9.01 05/17/11 DOLLAR GENERAL CORP TN 2.02,5.07,7.01,9.01 05/25/11 Domark International Inc. NV 5.06,8.01 05/27/11 DOVER Corp DE 7.01,9.01 06/01/11 DTE ENERGY CO MI 7.01,9.01 06/01/11 DYAX CORP DE 8.01,9.01 05/27/11 DYNAMIC VENTURES CORP. 1.01,9.01 05/28/11 Eastern Insurance Holdings, Inc. PA 8.01,9.01 05/31/11 EASTGROUP PROPERTIES INC MD 5.02,5.07,9.01 05/25/11 ELECTRONIC ARTS INC. DE 5.02,9.01 05/26/11 EMC INSURANCE GROUP INC IA 1.01,5.07,7.01,9.01 05/26/11 Emergency Medical Services CORP DE 1.01,1.02,2.03,3.01, 05/25/11 5.01,5.02,5.03,8.01, 9.01 EMERSON RADIO CORP DE 1.03,8.01,9.01 05/31/11 ENDEAVOUR INTERNATIONAL CORP NV 5.02,5.07,9.01 05/26/11 ENDOLOGIX INC /DE/ DE 5.07 05/25/11 ENDURANCE SPECIALTY HOLDINGS LTD 8.01,9.01 06/01/11 ENERGIZER HOLDINGS INC MO 2.04 05/25/11 ENERGY PARTNERS LTD DE 1.01,5.07 05/26/11 EnergySolutions, Inc. DE 5.07 05/25/11 ENGLOBAL CORP NV 5.02,9.01 05/31/11 ENSIGN GROUP, INC 5.07 05/26/11 ESTERLINE TECHNOLOGIES CORP DE 2.02,9.01 06/01/11 Ethos Environmental, Inc. NV 8.01 05/31/11 EVCARCO, INC. NV 1.01,9.01 05/24/11 EXELON CORP PA 7.01,9.01 06/01/11 EXIDE TECHNOLOGIES DE 2.02,9.01 06/01/11 Exousia Advanced Materials, Inc. TX 3.02,9.01 06/01/11 Federal Home Loan Bank of Cincinnati X1 2.03,9.01 05/25/11 Federal Home Loan Bank of Dallas 5.02,9.01 05/25/11 Federal Home Loan Bank of Des Moines X1 2.03,9.01 05/27/11 Federal Home Loan Bank of Topeka 5.02 05/26/11 Federal Home Loan Bank of Topeka 2.03,9.01 05/25/11 FIRST BANCSHARES INC /MS/ MS 5.07 05/26/11 FIRST COMMUNITY BANK CORP OF AMERICA FL 2.01,3.01,8.01 05/31/11 FIRST FINANCIAL HOLDINGS INC /DE/ DE 2.01,9.01 06/01/11 FIRST NATIONAL COMMUNITY BANCORP INC PA 5.02,9.01 05/25/11 FLUOROPHARMA MEDICAL, INC. NV 4.01,9.01 06/01/11 FORD MOTOR CO DE 8.01,9.01 06/01/11 FORD MOTOR CREDIT CO LLC DE 8.01,9.01 06/01/11 FOREST OIL CORP NY 1.01,2.01,7.01,9.01 05/25/11 FRANKLIN ELECTRIC CO INC IN 7.01,9.01 06/01/11 Franklin Financial Corp VA 5.02,9.01 06/01/11 FROZEN FOOD EXPRESS INDUSTRIES INC TX 8.01,9.01 06/01/11 FSI INTERNATIONAL INC MN 8.01,9.01 06/01/11 GATEWAY ENERGY CORP/NE DE 9.01 05/26/11 GENWORTH FINANCIAL INC DE 5.03,9.01 06/01/11 GRANT PARK FUTURES FUND LIMITED PARTN IL 7.01 06/01/11 GREAT PLAINS ENERGY INC MO 8.01 06/01/11 GREENBRIER COMPANIES INC DE 5.02 05/25/11 GreenCell, Inc FL 1.01,3.02 05/25/11 GREER BANCSHARES INC SC 2.02,9.01 05/23/11 Grubb & Ellis Healthcare REIT II, Inc MD 1.01,2.01,2.03,7.01, 05/26/11 9.01 GSE SYSTEMS INC DE 8.01 06/01/11 GSV Capital Corp. MD 1.01,1.02,5.03,9.01 05/26/11 GT Solar International, Inc. DE 5.02,9.01 05/26/11 GTX INC /DE/ DE 2.05 06/01/11 HABER INC DE 8.01,9.01 06/01/11 Harvard Illinois Bancorp, Inc. MD 5.07,9.01 05/26/11 HCC INSURANCE HOLDINGS INC/DE/ DE 5.02,5.07 05/25/11 HCP, INC. MD 7.01,9.01 06/01/11 HCP, INC. MD 7.01,9.01 05/31/11 HEALTH NET INC DE 7.01 05/31/11 HEALTHCARE TRUST OF AMERICA, INC. MD 8.01,9.01 05/31/11 HEALTHSTREAM INC TN 5.07 05/26/11 HERITAGE COMMERCE CORP CA 5.07,7.01 05/26/11 HERTZ GLOBAL HOLDINGS INC 5.07 05/26/11 HEWLETT PACKARD CO DE 8.01,9.01 05/25/11 HFF, Inc. DE 5.07 05/26/11 HIGHLAND BUSINESS SERVICES, INC. NV 1.01,2.01,3.02,5.02, 05/31/11 8.01,9.01 Hoku Corp DE 5.02,9.01 05/25/11 HOLOGIC INC DE 7.01,8.01,9.01 06/01/11 Homeowners Choice, Inc. FL 5.07 05/25/11 IA GLOBAL INC DE 5.02,9.01 05/19/11 IBERIABANK CORP LA 8.01,9.01 05/31/11 IDACORP INC ID 7.01,8.01,9.01 05/31/11 ImmunoCellular Therapeutics, Ltd. DE 8.01,9.01 06/01/11 INFORMATION SYSTEMS ASSOCIATES, INC. FL 2.03 05/28/11 INSWEB CORP 1.01,5.02,8.01,9.01 06/01/11 INTERPUBLIC GROUP OF COMPANIES, INC. DE 1.01,9.01 06/01/11 INUVO, INC. NV 9.01 02/15/11 Investors Heritage Capital Corp KY 5.07 05/12/11 IPG PHOTONICS CORP DE 5.02,5.07 06/01/11 ITC Holdings Corp. MI 5.02,5.07,8.01,9.01 05/25/11 ITEX CORP NV 8.01 06/01/11 IVANHOE ENERGY INC 1.01 05/25/11 JACOBS ENGINEERING GROUP INC /DE/ DE 5.02,9.01 05/26/11 JACOBS ENGINEERING GROUP INC /DE/ DE 5.07 01/27/11 AMEND JDA SOFTWARE GROUP INC DE 5.07 05/26/11 JETBLUE AIRWAYS CORP DE 5.07 05/26/11 JONES LANG LASALLE INC MD 5.07 05/26/11 JONES SODA CO WA 5.02,5.07,9.01 05/25/11 KATY INDUSTRIES INC DE 5.07 05/25/11 KEMET CORP DE 7.01,9.01 06/01/11 Kennedy-Wilson Holdings, Inc. DE 8.01,9.01 06/01/11 KINDER MORGAN ENERGY PARTNERS L P DE 7.01 05/31/11 KINDER MORGAN MANAGEMENT LLC DE 7.01 05/31/11 KINDER MORGAN, INC. DE 7.01 05/31/11 KIRBY CORP NV 5.02 05/27/11 Kraton Performance Polymers, Inc. DE 5.02,5.07 05/25/11 KRATOS DEFENSE & SECURITY SOLUTIONS, DE 5.07 06/01/11 LA JOLLA PHARMACEUTICAL CO DE 8.01 05/27/11 LABORATORY CORP OF AMERICA HOLDINGS DE 7.01 06/01/11 LANDSTAR SYSTEM INC DE 5.02,5.07 05/26/11 LAPOLLA INDUSTRIES INC DE 3.02 05/25/11 LED Power Group, Inc. NV 1.01,9.01 05/26/11 LEHMAN ABS CORP BACKED TRUST CERTS SE DE 8.01,9.01 05/20/11 LIMITED BRANDS INC DE 5.07 05/26/11 Lone Pine Resources Inc. DE 1.01,2.01,3.02,5.02, 05/25/11 9.01 Macquarie Equipment Leasing Fund, LLC DE 3.03,5.07 06/01/11 Manhattan Bancorp CA 5.02,5.07,9.01 05/26/11 MARATHON OIL CORP DE 5.04,9.01 06/01/11 Market Leader, Inc. WA 5.07 05/26/11 MARKWEST ENERGY PARTNERS L P 7.01,9.01 06/01/11 MARTIN MIDSTREAM PARTNERS LP DE 1.01,7.01,9.01 05/31/11 MASTEC INC FL 1.01,9.01 05/31/11 MATTSON TECHNOLOGY INC DE 5.02,9.01 06/01/11 MCCORMICK & CO INC MD 7.01,9.01 06/01/11 McCormick & Schmicks Seafood Restaura 5.07,9.01 05/26/11 MDC PARTNERS INC A6 5.02,5.07,9.01 06/01/11 MEDCO HEALTH SOLUTIONS INC DE 7.01,9.01 06/01/11 MediaMind Technologies Inc. DE 5.07 06/01/11 MEDICIS PHARMACEUTICAL CORP DE 8.01 05/25/11 Mercantile Bancorp, Inc. DE 8.01,9.01 05/31/11 MERIT MEDICAL SYSTEMS INC UT 5.07 05/27/11 MET PRO CORP PA 8.01,9.01 06/01/11 MET PRO CORP PA 5.07 06/01/11 MHI Hospitality CORP MD 5.02 05/25/11 MOCON INC MN 5.02,5.03,5.07,9.01 05/26/11 MOLSON COORS BREWING CO DE 5.07 05/25/11 MS STRUCTURED ASSET CORP CBT SERIES 2 DE 8.01,9.01 05/25/11 MTS SYSTEMS CORP MN 5.07 02/09/11 AMEND MULTIBAND CORP MN 8.01,9.01 06/01/11 MYERS INDUSTRIES INC OH 8.01,9.01 06/01/11 NANOMETRICS INC DE 5.02,5.07,8.01,9.01 05/26/11 NANOPHASE TECHNOLOGIES CORPORATION IL 3.01,9.01 06/01/11 NATIONAL HOUSING PARTNERSHIP REALTY F MD 8.01 05/26/11 NATIONAL RETAIL PROPERTIES, INC. MD 1.01,2.03,9.01 05/25/11 NATIONAL TAX CREDIT PARTNERS L P CA 2.01,9.01 05/25/11 NEOPROBE CORP DE 8.01 06/01/11 NETWORK 1 SECURITY SOLUTIONS INC DE 1.01,9.01 05/25/11 NEXTERA ENERGY INC FL 7.01 06/01/11 NOVELOS THERAPEUTICS, INC. DE 4.01,5.02,5.03,9.01 05/25/11 NxStage Medical, Inc. DE 5.07 05/26/11 OIL STATES INTERNATIONAL, INC DE 1.01,2.03,8.01,9.01 05/26/11 OLD NATIONAL BANCORP /IN/ IN 8.01,9.01 06/01/11 OLD REPUBLIC INTERNATIONAL CORP DE 5.07 05/27/11 ONEOK INC /NEW/ OK 5.02,9.01 05/27/11 ONEOK INC /NEW/ OK 7.01,9.01 06/01/11 ONEOK Partners LP DE 5.02,9.01 05/27/11 ONEOK Partners LP DE 7.01,9.01 06/01/11 OUTDOOR CHANNEL HOLDINGS INC 5.07 05/31/11 OXIGENE INC DE 8.01,9.01 06/01/11 PACIFIC OFFICE PROPERTIES TRUST, INC. MD 5.07 05/26/11 PAM TRANSPORTATION SERVICES INC DE 5.07 05/26/11 PANTRY INC DE 5.02,9.01 05/31/11 PARK OHIO HOLDINGS CORP OH 5.02,5.07,9.01 05/26/11 PDI INC 5.07 05/31/11 PDL BIOPHARMA, INC. DE 7.01,9.01 06/01/11 PediatRx Inc. NV 8.01,9.01 06/01/11 PEETS COFFEE & TEA INC WA 8.01 05/31/11 PENNANTPARK INVESTMENT CORP 7.01,9.01 06/01/11 People's United Financial, Inc. DE 8.01,9.01 06/01/11 PHH CORP MD 8.01 05/25/11 PIEDMONT NATURAL GAS CO INC NC 8.01 06/01/11 Pinewood Acquisition Corp DE 3.02,5.01,5.02,5.03 03/31/11 PINNACLE ENTERTAINMENT INC. DE 1.01,9.01 05/26/11 PINNACLE WEST CAPITAL CORP AZ 7.01,8.01,9.01 06/01/11 PITTSBURGH & WEST VIRGINIA RAILROAD PA 5.07,8.01,9.01 05/31/11 POLYCOM INC DE 7.01,9.01 06/01/11 POWIN CORP 8.01,9.01 06/01/11 PRIVATEBANCORP, INC DE 7.01,9.01 06/01/11 PSM HOLDINGS INC NV 9.01 03/15/11 AMEND QUALITY SYSTEMS, INC CA 5.02,9.01 05/25/11 RAE SYSTEMS INC DE 1.01,2.01,9.01 05/26/11 RAYTHEON CO/ DE 5.07 05/26/11 REALPAGE INC DE 5.07 06/01/11 RED ROBIN GOURMET BURGERS INC DE 7.01,9.01 05/31/11 REGAL ONE Corp FL 8.01,9.01 03/31/11 REPRO MED SYSTEMS INC NY 8.01,9.01 05/31/11 RETAIL OPPORTUNITY INVESTMENTS CORP DE 8.01,9.01 06/01/11 REX AMERICAN RESOURCES Corp DE 2.02,9.01 06/01/11 Roadrunner Transportation Systems, In DE 1.01,2.03,8.01,9.01 05/31/11 ROCKWELL MEDICAL TECHNOLOGIES INC MI 5.02,5.07 05/26/11 ROFIN SINAR TECHNOLOGIES INC DE 2.01,9.01 06/01/11 RR Donnelley & Sons Co DE 9.01 06/01/11 RURBAN FINANCIAL CORP OH 5.03,5.07,9.01 05/26/11 Santa Fe Gold CORP DE 5.07,9.01 05/18/11 SEACOAST BANKING CORP OF FLORIDA FL 3.03,5.03,5.07,9.01 05/26/11 Seagate Technology plc L2 8.01 05/30/11 SEALED AIR CORP/DE DE 7.01,9.01 06/01/11 SEITEL INC DE 1.01,2.03,9.01 05/25/11 SEITEL INC DE 8.01 06/01/11 SemGroup Corp DE 5.07 05/25/11 SHUTTERFLY INC DE 5.07 05/25/11 SIGMA LABS, INC. 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