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U.S. Securities and Exchange Commission


Issue 2013-160
August 20, 2013

Commission announcements

Jane Jarcho Named Head of Commission's Investment Adviser/Investment Company Examination Program

The Securities and Exchange Commission (Commission) today announced that Jane E. Jarcho has been named as the National Associate Director of the Investment Adviser/Investment Company examination program in the Office of Compliance Inspections and Examinations (OCIE). She will oversee a staff of approximately 450 lawyers, accountants, and examiners responsible for inspections of U.S.-registered investment advisers and investment companies.

Ms. Jarcho has been the Acting National Associate Director of the Investment Adviser/Investment Company (IA/IC) exam program since March. She joined the SEC in 1990 and previously served as the Associate Director of the IA/IC examination program in the SEC's Chicago regional office.

"Jane brings a wealth of experience that will help us to continue to strengthen our risk-based approach to the examination of investment advisers and investment companies," said OCIE Director Andrew Bowden.

Ms. Jarcho said, "I am honored and excited for the opportunity to work with the IA/IC examination staff in Washington, D.C. and throughout the country. I have worked alongside the IA/IC staff for several years and know they are a dedicated group of professionals who are committed to protecting investors by promoting compliance, informing policy, and detecting wrongdoing."

Ms. Jarcho began her SEC career in the Division of Enforcement and held several positions including Branch Chief, Senior Trial Counsel, and Assistant Regional Director before joining OCIE in 2008. She has a B.A. from Middlebury College and a law degree from the University of Wisconsin Law School.

OCIE conducts the SEC's national examination program for investment advisers and investment companies, broker-dealers, self-regulatory organizations, clearing agencies, transfer agents, and credit rating agencies to fulfill its mission of promoting compliance, preventing fraud, monitoring risk, and informing SEC policy. (Press Rel. 2013-161)


Commission Charges Former Oppenheimer Private Equity Fund Manager with Misleading Investors about Valuation and Performance

The Commission today charged a former portfolio manager at Oppenheimer & Co. with misleading investors about the valuation and performance of a fund consisting of other private equity funds.

An SEC investigation found that Brian Williamson disseminated quarterly reports and marketing materials to prospective investors misstating that the valuation of the Oppenheimer fund's holdings was based on values received from the portfolio managers of those underlying funds. Williamson actually valued the fund's largest investment at a significant markup to the manager's estimated value. He also sent marketing materials reporting an internal rate of return that failed to deduct fees and expenses. As a result, the fund's reported performance as measured by its internal rate of return – a key indicator of the fund's performance – was significantly enhanced.

Earlier this year, Oppenheimer agreed to pay $2.8 million in a settlement of related charges.

"Investors deserve and the law requires honest disclosure about how their investments are valued," said Andrew J. Ceresney, Co-Director of the SEC's Division of Enforcement. "Williamson improperly lured investors to the private equity fund he managed by providing false and misleading information about the fund's performance."

According to the SEC's order instituting administrative proceedings against Williamson, he was an Oppenheimer employee from 2005 to 2011. Williamson marketed Oppenheimer Global Resource Private Equity Fund I, L.P. to pensions, foundations, endowments, and high net worth individuals and families. From September to October 2009, Williamson marketed the fund using materials that reported an internal rate of return that did not take into account any fees and expenses that the fund paid to underlying fund managers or the additional fees and expenses that the fund paid Oppenheimer. Furthermore, Williamson modified the Oppenheimer fund's marketing materials in October 2009 by increasing the reported value of the fund's largest investment – Cartesian Investors-A LLC – from $6 million to approximately $9 million. This increase was a significant markup to the underlying manager's estimated value. Nonetheless, the marketing materials falsely stated that underlying fund values were "based on the underlying manager's estimated values."

According to the SEC's order, Williamson made or approved additional material misrepresentations that created the misleading impression that the Oppenheimer fund's increased internal rate of return was due to increased performance or third party valuations. In fact, it was Williamson's revised valuation of Cartesian that resulted in a material increase in the Oppenheimer fund's reported performance. For example, for the quarter ended June 30, 2009, Williamson's markup of the Cartesian investment increased the reported internal rate of return from approximately 3.8 percent to 38.3 percent.

 "Interim valuations are especially important when used to raise funds in the private equity industry," said Julie M. Riewe, Co-Chief of the SEC Division of Enforcement's Asset Management Unit. "Private fund managers must provide investors with accurate disclosures about valuation methodologies as well as fund fees and expenses so they can make fully informed investment choices."

The SEC's order alleges that Williamson, who lives in Newtown, Pa., willfully violated Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, and Section 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-8.

The SEC's investigation was conducted by Panayiota K. Bougiamas, Joshua M. Newville, and Igor Rozenblit of the Enforcement Division's Asset Management Unit along with Jack Kaufman and Lisa Knoop of the New York Regional Office. The case was supervised by Valerie A. Szczepanik. Mr. Kaufman, Mr. Newville and, Charu Chandrasekhar will lead the SEC's litigation. The SEC acknowledges the assistance of the Massachusetts Attorney General's office. (Press Rel. 2013-160)

Federal Court Permanently Enjoins Atlanta-area Registered Representative Blake Richards from Securities Fraud Violations

On August 20, 2013, the Honorable Julie E. Carnes of the United States District Court for the Northern District of Georgia entered an order of permanent injunction against Blake Richards of Buford, Georgia enjoining the defendant from further violations of the securities laws in connection with allegations that the registered representative misappropriated investor funds. Specifically, Richards is permanently enjoined from further violations of the antifraud provisions of the federal securities laws, Section 17(a) of the Securities Act of 1933 ("Securities Act"), Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder, and Sections 206 (1) and Section 206 (2) of the Investment Advisers Act of 1940 ("Advisers Act"). The Order further provides that the issues of disgorgement and civil penalties will be resolved on motion of the Commission at a later date, and that in response to that motion, Richards is precluded from arguing that he did not violate the federal securities laws. Further, for purposes of that motion, the Order also provides that the allegations of the Complaint shall be accepted as and deemed true by the Court. Richards consented to the entry of the order of permanent injunction, without admitting or denying the allegations of the Commission's complaint.

The Commission's complaint alleged that, since at least 2008, Richards, a registered representative of a broker dealer, misappropriated approximately $2 million from at least seven investors. The majority of the misappropriated funds constituted retirement savings and/or life insurance proceeds from deceased spouses. The Commission further alleged that Richards instructed investors to write out checks to entities under his control with the understanding that Richards would invest their funds in fixed income assets, variable annuities and/or common stock, and that none of these investments were made as represented. None of the investments appeared on the client's brokerage account statements, and Richards received no commission income from these investments. The complaint further alleged that Richards siphoned off the funds entrusted to him for personal use.  [SEC v. Blake B. Richards, Civil Action No. 1:13-cv-1729 (N.D. Ga.)] (LR- 22784)

Commission Orders Hearing on Registration Suspension or Revocation against Four Public Companies for Failure to Make Required Periodic Filings

Today, the Commission instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registrations of each class of the securities of four companies for failure to make required periodic filings with the Commission:

•         G-Cats Acquisition Corp.
•         GalaGen, Inc.
•         Galena Acquisition Corp.
•         Garment Graphics, Inc.

In this Order, the Division of Enforcement (Division) alleges that the four issuers are delinquent in their required periodic filings with the Commission.

In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the Administrative Law Judge will hear evidence from the Division and the Respondents to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and/or 13a-13 thereunder, are true. The Administrative Law Judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of these Respondents should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceedings. (Rel. 34-70238)

First Georgia Community Corp.

An Administrative Law Judge has issued an Order Making Findings and Revoking Registrations by Default as to Three Respondents (Default Order) in First Georgia Community Corp., Admin. Proc. File No. 3-15378. The Order Instituting Proceedings alleged that Respondents repeatedly failed to file timely periodic reports while their securities were registered with the Securities and Exchange Commission. The Default Order finds these allegations to be true as to FLO Corp., Florida Community Banks, Inc., and In Touch Media Group, Inc., and revokes the registration of each class of their registered securities, pursuant to Section 12(j) of the Securities Exchange Act of 1934. First Georgia Community Corp. and NHS Health Solutions, Inc., remain in this proceeding. (Rel. 34-70233)

Investment company orders

Calamos Advisors LLC and Calamos ETF Trust

An order has been issued on an application filed by Calamos Advisors LLC and Calamos ETF Trust. The order permits: (a) actively-managed series of certain open-end management investment companies to issue shares ("Shares") redeemable in large aggregations only ("Creation Units"); (b) secondary market transactions in Shares to occur at negotiated market prices; (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days after the tender of 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 Shares. (Rel. IC-30653)

Ngam Advisors, L.P., et al.

An order has issued on an application filed by NGAM Advisors, L.P. et al. The order permits: (a) series of certain open-end management investment companies to issue shares (Shares) redeemable in large aggregations only (Creation Unit Aggregations); (b) secondary market transactions in Shares to occur at negotiated market prices; (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days after the tender of Shares for redemption; and (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 Unit Aggregations. (Rel. IC-30654)

Self-regulatory organizations

Immediate Effectiveness of Proposed Rule Change

EDGX Exchange, Inc. filed a proposed rule change (File No. SR-EDGX-2013-32) under Section 19(b)(1) of the Securities Exchange Act of 1934 to eliminate Rule 13.4, "Assigning of Registered Securities in the Name of a Member or Member Organization." Publication is expected in the Federal Register during the week of August 19th. (Rel. 34-70230)

EDGA Exchange, Inc. filed a proposed rule change (File No. SR-EDGA-2013-25) under Section 19(b)(1) of the Securities Exchange Act of 1934 to eliminate Rule 13.4, "Assigning of Registered Securities in the Name of a Member or Member Organization." Publication is expected in the Federal Register during the week of August 19th. (Rel. 34-70231)

Notice of Proposed Rule Change

The Fixed Income Clearing Corporation ("FICC") filed a proposed rule change (File No. SR-FICC-2013-08) under Section 19(b)(1) of the Securities Exchange Act of 1934 to shorten the grace period for members to reconcile notifications of settlement and to increase the late fee for members that fail to reconcile notifications of settlement in a timely manner.  Publication is expected in the Federal Register during the week of August 19th. (Rel. 34-70232)                                                                           

Designation of Longer Period for Commission Action on a Proposed Rule Change

The Commission has designated a longer period for Commission action, pursuant to Section 19(b)(2) of the Securities Exchange Act of 1934, on a proposed rule change (SR-NYSEMKT-2013-59) filed by NYSE MKT LLC amending Rule 965NY, which governs NDX and RUT Combination Orders. Publication is expected in the Federal Register during the week of August 19th. (Rel. 34-70235)

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-11    American Realty Capital Hospitality Trust, Inc., 405 PARK AVENUE, 
        NEW YORK, NY, 10022, (212) 415-6500 - 0 ($2,499,999,987.00) Equity, 
        (File 333-190698 - Aug. 19) (BR. 08)

S-1     RE/MAX Holdings, Inc., 5075 SOUTH SYRACUSE STREET, DENVER, X1, 80237, 
        (303)770-5531 - 0 ($100,000,000.00) Equity, (File 333-190699 - Aug. 19) 
        (BR. 08)

        206-470-7000 - 0 ($0.00) Unallocated (Universal) Shelf, 
        (File 333-190700 - Aug. 19) (BR. 03C)

S-8     HORMEL FOODS CORP /DE/, 1 HORMEL PL, AUSTIN, MN, 55912-3680, 
        (507) 437-5611 - 0 ($32,193,750.00) Equity, (File 333-190714 - Aug. 19) 
        (BR. 05B)

S-8     SAKS INC, 12 EAST 49TH STREET, NEW YORK, NY, 10017, (212) 940-5305 - 
        0 ($152,760,000.00) Equity, (File 333-190715 - Aug. 19) (BR. 02B)

S-8     Norwegian Cruise Line Holdings Ltd., 7665 CORPORATE DRIVE, MIAMI, FL, 
        33126, 305-436-4000 - 5,761,291 ($183,209,054.00) Equity, 
        (File 333-190716 - Aug. 19) (BR. 05B)

        HONG KONG, F4, 00000, (852) 2540 1686 - 
        0 ($0.00) Unallocated (Universal) Shelf, (File 333-190718 - Aug. 19) 
        (BR. 05C)

        NEW YORK, NY, 10022, 2128295770 - 6,324,661 ($11,556,403.36) Equity, 
        (File 333-190719 - Aug. 19) (BR. 03C)

S-8     United Health Products, Inc., 120 WALL STREET, SUITE 2401, NEW YORK, 
        NY, 10005, (646) 961-4459 - 15,000,000 ($1,650,000.00) Equity, 
        (File 333-190720 - Aug. 19) (BR. 10B)

Recent 8K Filings

Form 8-K is used by companies to file current reports on the following events:


Entry into a Material Definitive Agreement


Termination of a Material Definitive Agreement


Bankruptcy or Receivership


Completion of Acquisition or Disposition of Assets


Results of Operations and Financial Condition


Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant


Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement


Cost Associated with Exit or Disposal Activities


Material Impairments


Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing


Unregistered Sales of Equity Securities


Material Modifications to Rights of Security Holders


Changes in Registrant's Certifying Accountant


Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review


Changes in Control of Registrant


Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer


Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year


Temporary Suspension of Trading Under Registrant's Employee Benefit Plans


Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics


Change in Shell Company Status


ABS Informational and Computational Material.


Change of Servicer or Trustee.


Change in Credit Enhancement or Other External Support.


Failure to Make a Required Distribution.


Securities Act Updating Disclosure.


Regulation FD Disclosure


Other Events


Financial Statements and Exhibits

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.

NAME OF ISSUER                          CODE     8K ITEM NO.          DATE        COMMENT

3PEA INTERNATIONAL, INC.                NV       2.02,9.01            08/15/13

ACCESS MIDSTREAM PARTNERS LP            DE       1.01,2.03,9.01       08/14/13

ALCOA INC                               PA       8.01,9.01            08/14/13

Alon Refining Krotz Springs, Inc.       DE       8.01                 08/16/13

Alon USA Energy, Inc.                   DE       8.01                 08/16/13

AMERICAN SAFETY INSURANCE HOLDINGS LT            8.01,9.01            08/14/13

AMERICAN TOWER CORP /MA/                DE       1.01,2.03,9.01       08/19/13

AMERICANWEST BANCORPORATION             WA       7.01,9.01            08/15/13

AMERICAS CARMART INC                    TX       2.02,9.01            08/19/13

ANNALY CAPITAL MANAGEMENT INC           MD       5.02,9.01            08/14/13

ANV SECURITY GROUP INC.                 NV       5.02,9.01            07/19/13

ARCH COAL INC                           DE       8.01,9.01            08/19/13

ARGAN INC                               DE       8.01                 08/12/13

ARK RESTAURANTS CORP                    NY       2.02,9.01            08/13/13

ASSOCIATED MATERIALS, LLC               DE       9.01                 08/19/13

BALLY TECHNOLOGIES, INC.                NV       2.02,9.01            08/15/13

BioScrip, Inc.                          DE       1.01,9.01            08/13/13

BlueLinx Holdings Inc.                  DE       1.01,9.01            08/16/13

Bluerock Multifamily Growth REIT, Inc   MD       1.01,2.03            08/13/13

BOB EVANS FARMS INC                     DE       2.02,9.01            08/19/13

BOSTON BEER CO INC                      MA       8.01                 08/16/13

BOYD GAMING CORP                        NV       1.01,9.01            08/19/13

Business Development Corp of America    MD       8.01,9.01            08/15/13

Caldera Pharmaceuticals Inc             DE       5.02                 08/14/13

CAMBIUM LEARNING GROUP, INC.                     5.02,9.01            08/14/13

Carey Watermark Investors Inc                    1.01,2.01,9.01       08/13/13

Casablanca Mining Ltd.                  NV       5.02,9.01            08/17/13

CECIL BANCORP INC                       MD       2.01,9.01            08/16/13

CHENIERE ENERGY INC                     DE       7.01,9.01            08/19/13

Cheniere Energy Partners, L.P.          DE       7.01,9.01            08/19/13

ChinaNet Online Holdings, Inc.          NV       8.01,9.01            08/19/13

CIL&D, LLC                              DE       1.01,1.03,8.01       08/12/13

CLOROX CO /DE/                          DE       5.02,9.01            08/14/13

ClubCorp Club Operations, Inc.          DE       5.02                 08/15/13

COMMONWEALTH EDISON CO                  IL       1.01,2.03,9.01       08/19/13

COVANTA HOLDING CORP                    DE       7.01,9.01            08/19/13

CROWN CRAFTS INC                        DE       8.01                 08/15/13

CULP INC                                NC       1.01                 08/13/13

DARA BioSciences, Inc.                  DE       1.01,8.01,9.01       08/19/13

Delek Logistics Partners, LP            DE       7.01,9.01            08/19/13

Delek US Holdings, Inc.                          7.01,9.01            08/19/13

Deyu Agriculture Corp.                  NV       5.02                 08/16/13

Diamondback Energy, Inc.                DE       1.01,7.01,9.01       08/14/13

Digital Realty Trust, Inc.                       2.03                 08/15/13

Education Realty Trust, Inc.            MD       7.01,9.01            08/19/13

Enterologics, Inc.                      NV       4.01,9.01            08/15/13

EQUUS TOTAL RETURN, INC.                DE       8.01,9.01            08/14/13

ERBA Diagnostics, Inc.                  DE       2.02,7.01,9.01       08/19/13

ESSA Bancorp, Inc.                      PA       8.01,9.01            08/16/13

FAUQUIER BANKSHARES, INC.               VA       8.01,9.01            08/16/13

Federal Home Loan Bank of Dallas                 2.03,9.01            08/13/13

FEEL GOLF CO INC                        CA       1.01,9.01            08/14/13

FIRST NATIONAL CORP /VA/                VA       5.02,5.03,9.01       08/14/13

FIRST REGIONAL BANCORP                  CA       8.01,9.01            08/13/13

FLUSHING FINANCIAL CORP                 DE       8.01,9.01            08/19/13

Frank's International N.V.              P7       1.01,2.01,2.03,	 08/13/13

Fraternity Community Bancorp Inc                 5.02,9.01            08/13/13

Fresh Healthy Vending International     DE       1.01,5.02,5.03,	 08/19/13

GASTAR EXPLORATION LTD                           7.01,9.01            08/19/13

General Motors Financial Company, Inc   TX       9.01                 08/19/13    AMEND

GENUINE PARTS CO                        GA       8.01,9.01            08/19/13

GOLF ROUNDS COM INC                              1.01,9.01            08/19/13

GOODRICH PETROLEUM CORP                 DE       1.01,3.03,5.03,9.01  08/14/13

GREAT PLAINS ENERGY INC                 MO       1.01,2.03,9.01       08/16/13

GREENWAY MEDICAL TECHNOLOGIES INC                2.02,9.01            08/19/13

GTX INC /DE/                            DE       8.01,9.01            08/19/13

HANGER, INC.                            DE       2.01,9.01            08/19/13

HARBINGER GROUP INC.                    DE       8.01                 08/19/13

HARLAND CLARKE HOLDINGS CORP            DE       1.01,2.01,5.02,9.01  08/16/13

HARMONIC INC                            DE       5.03,5.07            08/14/13

HCC INSURANCE HOLDINGS INC/DE/          DE       7.01,9.01            08/19/13

HealthWarehouse.com, Inc.               DE       5.07                 08/15/13

Heron Lake BioEnergy, LLC               MN       7.01,9.01            08/16/13

INDEPENDENT BANK CORP /MI/              MI       8.01,9.01            08/19/13

INDUSTRIAL SERVICES OF AMERICA INC /F   FL       2.02,9.01            08/15/13

ING U.S., Inc.                          DE       7.01                 08/13/13

Inrad Optics, Inc.                      NJ       2.02,9.01            08/19/13

INSIGHT ENTERPRISES INC                 DE       5.02                 08/18/13

Integrated Drilling Equipment Holding   DE       5.02                 08/16/13

INTERCLOUD SYSTEMS, INC.                         7.01,9.01            08/19/13

INTERCLOUD SYSTEMS, INC.                         2.02                 08/05/13    AMEND

INTERNATIONAL RECTIFIER CORP /DE/       DE       2.02,5.03,7.01,9.01  08/16/13

INTEVAC INC                             CA       5.02                 08/14/13

IPC The Hospitalist Company, Inc.       DE       8.01,9.01            08/19/13

IZEA, Inc.                              NV       2.02,9.01            08/15/13

JBI, INC.                               NV       1.01,8.01,9.01       08/14/13

JPMBB Commercial Mortgage Securities    DE       8.01,9.01            08/19/13

Legal Life Plans, Inc.                  DE       5.02                 08/16/13

LEVEL 3 COMMUNICATIONS INC              DE       1.01,2.03,9.01       08/16/13

LHC Group, Inc                                   5.02,9.01            08/19/13

LIME ENERGY CO.                         DE       2.02,9.01            08/19/13

Location Based Technologies, Inc.       NV       2.03,9.01            08/19/13

LUBYS INC                               DE       1.01,1.02,2.03,9.01  08/13/13

MAGELLAN PETROLEUM CORP /DE/            DE       5.07                 08/19/13

MAGELLAN PETROLEUM CORP /DE/            DE       3.03,5.03,9.01       08/19/13

MANNKIND CORP                           DE       2.02,9.01            08/14/13

ManpowerGroup Inc.                      WI       5.02,9.01            08/13/13

MARCHEX INC                             DE       7.01                 08/19/13

MAXIM INTEGRATED PRODUCTS INC           DE       1.01,9.01            08/19/13

MCCORMICK & CO INC                      MD       8.01,9.01            08/14/13

McEwen Mining Inc.                      CO       7.01,9.01            08/19/13

MEDCAREERS GROUP, Inc.                  NV       9.01                 11/19/10    AMEND

Media Mechanics, Inc.                   NV       1.01,5.01,5.02,9.01  08/13/13

MESA ROYALTY TRUST/TX                   TX       2.02,9.01            08/19/13

MICRON TECHNOLOGY INC                   DE       8.01                 08/14/13

MICRONET ENERTEC TECHNOLOGIES, INC.     DE       7.01,8.01,9.01       08/18/13

Millennial Media Inc.                   DE       1.01,3.02,9.01       08/13/13

ML BlueTrend FuturesAccess LLC          DE       3.02                 08/14/13

MOCON INC                               MN       3.01,9.01            08/15/13

Moody National REIT I, Inc.             MD       5.07                 08/13/13

MOPALS.COM, INC.                        DE       4.01,9.01            03/26/13    AMEND

MRC GLOBAL INC.                         DE       5.02                 08/16/13

MS STRUCTURED SATURNS SERIES 2004-4     DE       8.01,9.01            08/15/13

MS STRUCTURED SATURNS SERIES 2005-1     DE       8.01,9.01            08/15/13

NATURES SUNSHINE PRODUCTS INC           UT       2.02,2.03,8.01,9.01  08/08/13

NEF Enterprises, Inc.                   NV       8.01                 08/15/13

NeoStem, Inc.                           DE       5.02,8.01,9.01       08/19/13

NF Investment Corp.                     MD       3.02                 08/19/13

Nielsen Holdings N.V.                   P7       1.01                 08/14/13

North American Oil & Gas Corp.          NV       1.01,9.01            08/16/13

NORTH BAY RESOURCES INC                 DE       3.02,9.01            08/13/13

NorthStar Healthcare Income, Inc.       MD       1.01                 08/16/13

NORTHWEST NATURAL GAS CO                OR       8.01,9.01            08/19/13

NUCOR CORP                              DE       5.02                 08/15/13

NuStar Energy L.P.                      DE       1.01,9.01            08/14/13

NV ENERGY, INC.                         NV       8.01,9.01            08/19/13

O REILLY AUTOMOTIVE INC                          1.01,9.01            08/14/13

Ocera Therapeutics, Inc.                DE       5.02                 08/13/13

ONLINE DISRUPTIVE TECHNOLOGIES, INC.    NV       9.01                 07/25/13    AMEND

Onstream Media CORP                     FL       2.02,9.01            08/19/13

Opko Health, Inc.                       DE       8.01,9.01            08/19/13

ORTHOFIX INTERNATIONAL N V                       1.01,3.01,7.01,	 08/14/13

P2 Solar, Inc.                          DE       4.01,9.01            08/15/13

PENNYMAC FINANCIAL SERVICES, INC.       DE       1.01,5.03,9.01       08/14/13

PennyMac Mortgage Investment Trust      MD       8.01,9.01            08/13/13

PennyMac Mortgage Investment Trust      MD       1.01,9.01            08/14/13

PEPSICO INC                             NC       7.01                 08/19/13

Phillips Edison - ARC Shopping Center   MD       8.01,9.01            08/13/13

PMC SIERRA INC                          DE       5.02                 08/17/13

POLYONE CORP                                     5.02                 08/13/13

Press Ventures, Inc.                             1.01,5.02,5.03,9.01  08/13/13

PRIVATEBANCORP, INC                     DE       7.01,9.01            08/19/13

PROASSURANCE CORP                       DE       7.01,9.01            08/19/13

PROGAMING PLATFORMS CORP                DE       1.01,9.01            08/15/13

QUALITY SYSTEMS, INC                    CA       5.07                 08/15/13

Quanex Building Products CORP           DE       8.01                 08/17/13

QUANTUM FUEL SYSTEMS TECHNOLOGIES WOR   DE       1.01,9.01            08/19/13

RADIO ONE, INC.                         DE       4.02                 08/19/13

RAVEN INDUSTRIES INC                    SD       2.02,9.01            08/19/13

Red Giant Entertainment, Inc.           NV       1.01,3.02            08/19/13

RED MOUNTAIN RESOURCES, INC.            FL       8.01,9.01            08/16/13

REINSURANCE GROUP OF AMERICA INC        MO       9.01                 08/19/13

RETRACTABLE TECHNOLOGIES INC            TX       8.01,9.01            08/15/13

Retrophin, Inc.                         OK       7.01,9.01            08/16/13

REVLON CONSUMER PRODUCTS CORP           DE       1.01,2.03,9.01       08/19/13

REVLON INC /DE/                         DE       1.01,2.03,9.01       08/19/13

Riverbed Technology, Inc.               DE       8.01,9.01            08/19/13

SAExploration Holdings, Inc.            DE       2.02,2.03,5.07,9.01  08/13/13

SAKS INC                                TN       2.02,9.01            08/19/13

ScanSys, Inc.                           DE       1.01,2.01,3.03,	 06/12/13    AMEND

SCHOOL SPECIALTY INC                    DE       5.02,8.01,9.01       08/19/13

Seaniemac International, Ltd.                    8.01                 08/16/13

SearchCore, Inc.                        NV       1.01,9.01            08/15/13

SEQUENOM INC                            DE       2.05                 08/19/13

SMITH & WESSON HOLDING CORP             NV       1.01,2.03,9.01       08/15/13

SMUCKER J M CO                          OH       5.07                 08/14/13

SOLARCITY CORP                          DE       1.01,3.02,9.01       08/13/13

SOUPMAN, INC.                           DE       5.02                 08/13/13

Spansion Inc.                           DE       8.01,9.01            08/19/13

Spansion Inc.                           DE       9.01                 08/01/13    AMEND

Staffing 360 Solutions, Inc.            NY       1.01,8.01,9.01       08/14/13

Stereotaxis, Inc.                       DE       3.02                 08/13/13

STRUCTURED PROD TIERS CORP BOND-BCKD    DE       8.01,9.01            08/15/13

STRUCTURED PRODUCTS CORP CORTS TRUST    DE       8.01,9.01            08/15/13

Surge Global Energy, Inc.               DE       5.01,8.01,9.01       08/19/13

TAYLOR CALVIN B BANKSHARES INC          MD       5.02                 08/14/13

TECHPRECISION CORP                               2.02,9.01            08/19/13

Tianli Agritech, Inc.                   D8       7.01,9.01            08/14/13

TOMI Environmental Solutions, Inc.      FL       8.01,9.01            08/19/13

Tower Group International, Ltd.         D0       1.02,9.01            08/18/13

Towers Watson & Co.                     DE       5.02,5.03,9.01       08/16/13

TOYOTA MOTOR CREDIT CORP                CA       7.01,9.01            08/19/13

Transocean Ltd.                         V8       7.01                 08/19/13

TRINITY INDUSTRIES INC                  DE       7.01,9.01            08/15/13

TWENTY-FIRST CENTURY FOX, INC.                   8.01,9.01            08/19/13

Twin Cities Power Holdings, LLC         MN       1.01,9.01            07/30/13

ULURU INC.                              NV       8.01,9.01            08/15/13

Umami Sustainable Seafood Inc.          NV       5.02,7.01,9.01       08/16/13

UNION PACIFIC CORP                      UT       8.01,9.01            08/19/13

UNITED FIRE GROUP INC                            5.05,9.01            08/16/13

Universal Truckload Services, Inc.      MI       1.01,8.01,9.01       08/16/13

URBAN AG. CORP                                   3.03,5.03,9.01       08/14/13

US-TH ENERGY SCIENCE & TECHNOLOGY INT   CA       4.01,9.01            07/12/13

US-TIANXIA SOFTWARE TECHNOLOGY INT'L,   CA       4.01,9.01            07/12/13

US-TQ BEVERAGE PRODUCTS INT'L, INC.     CA       4.01,9.01            07/12/13

VALMONT INDUSTRIES INC                  DE       5.02,9.01            08/13/13

VANGUARD HEALTH SYSTEMS INC             DE       5.02                 08/13/13

VAPOR CORP.                             NV       1.01,2.03,9.01       08/16/13

Viacom Inc.                             DE       8.01,9.01            08/19/13

Vican Resources, Inc.                   NV       3.03,5.03,5.07,9.01  07/31/13

Village Bank & Trust Financial Corp.             5.02,9.01            08/09/13

VirtualScopics, Inc.                    DE       5.07                 08/13/13

VIVUS INC                               CA       5.02,5.07            08/14/13

VMWARE, INC.                            DE       5.02                 08/14/13

Voice Assist, Inc.                      NV       2.03,3.02            08/16/13

VOLTERRA SEMICONDUCTOR CORP                      1.01,9.01            08/15/13

Wheeler Real Estate Investment Trust,   MD       8.01,9.01            08/16/13

XCEL ENERGY INC                         MN       8.01                 08/15/13

xG TECHNOLOGY, INC.                     DE       8.01,9.01            08/19/13

XIANGTIAN (USA) AIR POWER CO., LTD.              4.01                 06/08/13

XILINX INC                              DE       5.07                 08/14/13

XPO Logistics, Inc.                              7.01,9.01            08/19/13

XSUNX INC                               CO       5.03,5.07,9.01       06/27/13

ZAYO GROUP LLC                          DE       7.01,9.01            08/13/13

ZILLOW INC                              WA       1.01,7.01,9.01       08/16/13


Modified: 08/22/2013