SEC News Digest

COMMISSION ANNOUNCEMENTS

Securities and Exchange Commission Suspends Trading in the Securities of China Technology Global Corp. for Failure to Make Required Periodic Filings

The U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of China Technology Global Corp. (CTGLF), commencing at 9:30 a.m. EDT on May 14, 2010, and terminating at 11:59 p.m. EDT on May 27, 2010.

The Commission temporarily suspended trading in the securities of CTGLF due to a lack of current and accurate information about the company because it has not filed periodic reports with the Commission in over two years. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).

The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by this company.

Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspension, no quotation may be entered relating to the securities of the subject company unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of this company that have been subject to a trading suspension until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

If any broker, dealer or other person has any information which may relate to this matter, they should immediately communicate it to the Delinquent Filings Branch of the Division of Enforcement at (202) 551-5466, or by e-mail at DelinquentFilings@sec.gov. (Rel. 34-62108)

Securities and Exchange Commission Suspends Trading in the Securities of Broadengate Systems, Inc. (n/k/a Otter Lake Resources, Inc.) for Failure to Make Required Periodic Filings

The U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of Broadengate Systems, Inc. (n/k/a Otter Lake Resources, Inc.) (OTLK), commencing at 9:30 a.m. EDT on May 14, 2010, and terminating at 11:59 p.m. EDT on May 27, 2010.

The Commission temporarily suspended trading in the securities of OTLK due to a lack of current and accurate information about the company because it has not filed periodic reports with the Commission in over two years. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).

The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by this company.

Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspension, no quotation may be entered relating to the securities of the subject company unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of this company that have been subject to a trading suspension until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at (202) 551-5720. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

If any broker, dealer or other person has any information which may relate to this matter, they should immediately communicate it to the Delinquent Filings Branch of the Division of Enforcement at (202) 551-5466, or by e-mail at DelinquentFilings@sec.gov. (Rel. 34-62110)

SEC Issues Notice of Proposed Distribution Plan and Opportunity for Comment in the Matter of American Skandia Investment Services, Inc.

The Commission announced today that it has given Notice, pursuant to Rule 1103 of the Securities and Exchange Commission's Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1103, that the Division of Enforcement has filed a proposed plan (Distribution Plan) for the distribution of monies in the matter of American Skandia Investment Services, Inc. (ASISI).

The Distribution Plan provides for distribution of $68 million in disgorgement and civil penalties paid by ASISI plus any accumulated interest, less any federal, state or local taxes on the interest. The Distribution Plan provides that the realized profits method will be used to estimate the dilution of Eligible Sub-Accounts, and that the dilution amount measures the harm caused by market timing activities. Accordingly, the funds are not being distributed according to a claims-made process. Pursuant to the Distribution Plan, ASISI is responsible for all costs and expenses of the distribution.

Notice of the Plan shall be published at http://www.sec.gov and www.asisidistributionfund.com. Any person or entity wishing to comment on the Distribution Plan must do so in writing by submitting their comments within 30 days of the date of the Notice (i) to the Office of the Secretary, United States Securities and Exchange Commission, 100 F Street, N.E., Washington, DC 20549-1090; or (ii) via the Commission's Internet comment form (www.sec.gov/litigation/admin.shtml); or (iii) by sending an e-mail to rule-comments@sec.gov. Comments submitted by e-mail or via the Commission's web site should include the Administrative Proceeding File Number (Admin. Proc. File No. 3-13446) in the subject line. Comments received will be publicly available. Persons should submit only information that they wish to make publicly available. (Rel. 34-62106; File No. 3-13446)

ENFORCEMENT PROCEEDINGS

Commission Orders Hearing on Registration Suspension or Revocation Against Brokat Technologies Aktiengesellschaft for Failure to Make Required Periodic Filings

On May 13, 2010, the Commission instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of Brokat Technologies Aktiengesellschaft for failure to make required periodic filings with the Commission:

In the Matter of Brokat Technologies Aktiengesellschaft, Administrative Proceeding File No. 3-13900

In this Order, the Division of Enforcement (Division) alleges that Brokat Technologies Aktiengesellschaft is delinquent in its 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 judge will hear evidence from the Division and the Respondent 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-16 thereunder, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of this Respondent 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. 34-62107; File No. 3-13900)

Commission Orders Hearings on Registration Suspension or Revocation Against CTGLF for Failure to Make Required Periodic Filings

In conjunction with today's trading suspension, the Commission also instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities CTGLF for failure to make required periodic filings with the Commission:

In the Matter of China Technology Global Corp., Administrative Proceeding File No. 3-13901.

In this Order, the Division of Enforcement (Division) alleges that China Technology Global Corp. is delinquent in its 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 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-16 thereunder, are true. The judge in the proceeding will then determine whether the registration pursuant to Exchange Act Section 12 of each class of the securities of this Respondent 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. 34-62109; File No. 3-13901)

Commission Orders Hearings on Registration Suspension or Revocation Against OTLK for Failure to Make Required Periodic Filings

In conjunction with today's trading suspension, the Commission also instituted public administrative proceedings to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities OTLK for failure to make required periodic filings with the Commission:

In the Matter of Broadengate Systems, Inc. (n/k/a Otter Lake Resources, Inc.), Administrative Proceeding File No. 3-13902

In this Order, the Division of Enforcement (Division) alleges that Broadengate Systems, Inc. (n/k/a Otter Lake Resources, Inc.) is delinquent in its 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 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 judge in the proceeding will then determine whether the registration pursuant to Exchange Act Section 12 of each class of the securities of this Respondent 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. 34-62111; File No. 3-13902)

SELF-REGULATORY ORGANIZATIONS

Orders Approving and Declaring Effective a Plan for the Allocation of Regulatory Responsibilities

The Securities and Exchange Commission has issued an order approving and declaring effective a Plan for the Allocation of Regulatory Responsibilities between the Financial Industry Regulatory Authority and EDGA Exchange pursuant to Rule 17d-2 under the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of May 17. (Rel. 34-62078)

The Securities and Exchange Commission has issued an order approving and declaring effective a Plan for the Allocation of Regulatory Responsibilities between the Financial Industry Regulatory Authority and EDGX Exchange pursuant to Rule 17d-2 under the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of May 17. (Rel. 34-62079)

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change filed by NASDAQ OMX BX to modify fees for members using the NASDAQ OMX BX Equities System (SR-BX-2010-035) 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 May 17. (Rel. 34-62080)

A proposed rule change filed by The NASDAQ Stock Market to modify fees for members using the NASDAQ Market Center (SR-NASDAQ-2010-058) 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 May 17. (Rel. 34-62081)

A proposed rule change, as modified by Amendment No. 1, filed by NYSE Amex to adopt rules extending the maximum term of FLEX Index and FLEX Equity Options and to establish a new pilot program (SR-NYSEAmex-2010-40) 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 May 17. (Rel. 34-62084)

A proposed rule change filed by The Chicago Stock Exchange (SR-CHX-2010-08) to establish a fixed provide credit for CHX-registered Institutional Brokers 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 May 17. (Rel. 34-62085)

A proposed rule change filed by The Chicago Stock Exchange (SR-CHX-2010-09) to decrease the provide credit for transactions involving issues priced less than one dollar 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 May 17. (Rel. 34-62087)

A proposed rule change (SR-CBOE-2010-042) filed by the Chicago Board Options Exchange relating to suspension of the seat market 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 May 17. (Rel. 34-62095)

A proposed rule change (SR-BX-2010-036) filed by NASDAQ OMX BX to reduce the required number of market makers appointed in a particular class for the opening of trading has become 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 May 17. (Rel. 34-62103)

Proposed Rule Change

The Options Clearing Corporation filed a proposed rule change (SR-OCC-2010-07) under Section 19(b)(1) of the Securities Exchange Act. The proposed rule change would provide that OCC will clear options on the CBOE Gold ETF Volatility Index as securities options. Publication is expected in the Federal Register during the week of May 17. (Rel. 34-62094)

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http://www.sec.gov/news/digest/2010/dig051410.htm