SEC News Digest

ENFORCEMENT PROCEEDINGS

In the Matter of Stanley Johnson

An Administrative Law Judge has issued an Initial Decision in the Matter of Stanley Johnson. The Initial Decision finds that the U.S. District Court for the Central District of California permanently enjoined Respondent Stanley Johnson (Johnson) from future violations of Sections 5 and 17(a) of the Securities Act of 1933 and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 (Exchange Act), and Rule 10b-5 thereunder. The Initial Decision concludes that, pursuant to Section 15(b) of the Exchange Act, it is appropriate in the public interest to bar Johnson from association with any broker or dealer. (Initial Decision No. 384; File No. 3-13494)

Securities and Exchange Commission Orders Hearing on Registration Revocation Against Six 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 six companies for failure to make required periodic filings with the Commission:

• Tops Appliance City, Inc.
• Tower Global Ventures Corp. (n/k/a Coffeehouse.com, Inc.)
• Transact International, Inc.
• Transderm Laboratories Corp.
• Trizak Corp
• Tropic Air Cargo, Inc.

In this Order, the Division of Enforcement (Division) alleges that the six 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 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. 34-60463; File No. 3-13573)

Delinquent Filers' Stock Registrations Revoked

The registrations of the registered securities of N.U. Pizza Holding Corp., Nahama & Weagent Energy Co., Namsco Corp., Nemdaco, Inc., Net Telecommunications, Inc., Network Commerce, Inc., Network One Holdings Corp., New Bridge Products, Inc., New Capital iWorks, Inc., and Nextpath Technologies, Inc. (n/k/a Central American Development Group, Inc.), have been revoked. Each had repeatedly failed to file required annual and quarterly reports with the Securities and Exchange Commission. Thus, each violated a crucial provision of the federal securities laws that requires public corporations to publicly disclose current, accurate financial information so that investors may make informed decisions. The revocations were ordered in an administrative proceeding before an administrative law judge. (Rel. 34-60467; File No. 3-13546)

SELF-REGULATORY ORGANIZATIONS

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change filed by the NYSE Amex implementing the Schedule of Fees and Charges for Exchange services (SR-NYSEAmex-2009-54) has become immediately effective under Section 19(b)(3)(A) under the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of August 10. (Rel. 34-60452)

A proposed rule change (SR-CBOE-2009-054) filed by the Chicago Board Options Exchange to amend the marketing fee program 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 10. (Rel. 34-60454)

A proposed rule change (SR-Phlx-2009-62) filed by the NASDAQ OMX PHLX relating to automatic allocations of options on related securities 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 10. (Rel. 34-60455)

A proposed rule change (SR-Phlx-2009-63) filed by NASDAQ OMX PHLX relating to extension of sponsored access pilot program 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 10. (Rel. 34-60456)

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http://www.sec.gov/news/digest/2009/dig081009.htm