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U.S. Securities and Exchange Commission

SEC News Digest

Issue 2011-123
June 27, 2011

Rules and Related Matters

Risk Management Controls for Brokers or Dealers with Market Access

The Commission extended the date for compliance with Rule 15c3-5 (Risk Management Controls for Broker or Dealers with Market Access) from July 14, 2011 to November 30, 2011, for the requirements relating to pre-trade credit and capital limits set forth in Rule 15c3-5(c)(1)(i) for all securities, and all of the requirements of Rule 15c3-5 for fixed income securities.  The limited extension was granted to give broker-dealers with market access additional time to develop, test, and implement the relevant risk management controls and supervisory procedures required under the Rule. The compliance date remains July 14, 2011 for all provisions of Rule 15c3-5 not subject to this limited extension.

Rule 15c3-5 requires brokers or dealers with access to trading directly on an exchange or alternative trading system, including those providing sponsored or direct market access to customers or other persons, and broker-dealer operators of an ATS that provide access to their ATS to a non-broker-dealer, to implement risk management controls and supervisory procedures reasonably designed to manage the financial, regulatory, and other risks of this business activity. Publication is expected in the Federal Register during the week of July 27. (Rel. 34-64748)

Enforcement Proceedings

Commission Sets Aside Disciplinary Action Against American Funds Distributors, Inc., for Alleged Violations of Anti-Reciprocal Rule

The Commission has set aside NASD disciplinary action against American Funds Distributors, Inc. (AFD), in connection with its "directed brokerage" practices from 2001 to 2003, as distributor and underwriter for the American Funds family of mutual funds. NASD, the predecessor to FINRA, had found that AFD violated former NASD Rule 2830(k)(3) – commonly known as the "Anti-Reciprocal Rule" – by improperly requesting or arranging for directed brokerage commissions be paid to top-selling broker-dealers in exchange for their sale of American Funds shares. NASD censured AFD and imposed a $5 million fine.

During the period at issue, Rule 2830(k) prohibited an underwriter for an investment company from "request[ing] or arrang[ing] for the direction" of specific brokerage commissions to a broker-dealer "conditioned upon" its sale of the investment company's shares. The Rule, included a limited exception for an underwriter of "an investment company which follows a policy, disclosed in its prospectus, of considering sales" of the investment company's shares "as a factor" in selecting broker-dealers to "execute portfolio transactions, subject to . . . best execution" requirements. AFD, on appeal, claimed that its directed brokerage practices for American Funds complied with this exception because best execution was met and properly disclosed. It further claimed that, if its practices ran afoul of Rule 2830(k), it was a consequence of ambiguity in the Rule's language.

The Commission agreed with AFD, finding that NASD Rule 2830(k), as in effect during 2001 to 2003, was ambiguous; that there existed minimal guidance at the time as to its meaning; and that such ambiguity was addressed in subsequent amendments to the Rule. Moreover, the Commission considered evidence suggesting that AFD "sought proactively to ensure that its directed brokerage practices conformed to regulatory requirements." Commissioner Aguilar dissented from the majority opinion, finding "the text, history and guidance of the rule were sufficiently clear to put AFD on notice that its directed brokerage arrangements violated the rule." (Rel. 34-64747; File No. 3-13055)

In the Matter of City Network, Inc.

An Administrative Law Judge has issued an Order Making Findings and Revoking Registration By Default (Default Order) in City Network, Inc., Admin. Proc. No. 3-14377. The Order Instituting Proceedings alleged that Respondent repeatedly failed to file required annual and quarterly reports while its securities were registered with the Securities and Exchange Commission. The Default Order finds these allegations to be true and revokes the registration of each class of registered securities of City Network, Inc. pursuant to Section 12(j) of the Securities Exchange Act of 1934. (Rel. 34-64749; File No. 3-14377)

Erez Bahar, CA, Sanctioned

Erez Bahar, CA (Bahar) has been sanctioned in connection with his role as manager of the audit of the 2007 financial statements of International Commercial Television Inc. (ICTV), the vendor of a beauty appliance, the DermaWand. The audit failed to uncover ICTV’s overstatement of revenue; ICTV’s originally reported $11.3 million in revenue was overstated by about $2.8 million, which was reversed in two restatements. Bahar was denied the privilege of appearing or practicing before the Securities and Exchange Commission as an accountant for a period of two years. (Initial Decision No. 420; File No. 3-13997)

In the Matter of Jason Mutascio

On June 27, 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 (Order) against Jason Mutascio (Mutascio).

In the Order, the Division of Enforcement alleges that Mutascio, a registered representative residing in Aventura, Florida, pled guilty to one count of wire fraud in violation of Title 18 United States Code, Section 1343 before the United States District Court for the Southern District of Florida in U.S. v. Mutascio, Case No. 10-60025-CR-COHN. In his guilty plea, Mutascio admitted that in March 2009, he devised a scheme to defraud one of his clients and to obtain money and property by means of false and fraudulent pretenses, representations, and promises and that, without the permission of his client, he caused the wire transfer of funds in the amount of $44,000 from his client’s brokerage account to bank accounts under his control.

A hearing will be scheduled before an administrative law judge to determine whether the allegations in the Order are true, to provide Mutascio an opportunity to respond to these allegations, and to determine what, if any, remedial action is appropriate in the public interest. The Order directed the Administrative Law Judge to issue an initial decision within 210 days from the date of service of the Order. (Rel. 34-64751; File No. 3-14437)

In the Matter of Eric Maher

On June 27, 2011, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions (Order) against Eric Maher. The Order finds that, in 2009, Maher was a salesperson who sold unregistered securities in the form of investment contracts of Express International, LLC; that on June 1, 2011, a final judgment was entered by consent against Maher, permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 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. Curtis Peterson, et al., Civil Action No. CV 11-01143 ODW (JEMx), in the United States District Court for the Central District of California; and that the Commission’s complaint alleged that, in connection with the offer and sale of those securities, Maher made false statements to investors, orally and in writing, concerning the nature of the Express International investment program, the safety of investor principal, and the profits to be realized from participation in the investment program, and also alleged that Maher sold unregistered securities and acted as an unregistered broker-dealer.

Based on the above, the Order bars Maher from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization; and bars him from participating in any offering of a penny stock, including: acting as a promoter, finder, consultant, agent or other person who engages in activities with a broker, dealer or issuer for purposes of the issuance of or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock; with the right to apply for reentry after five years to the appropriate self-regulatory organization, or if there is none, to the Commission.

Maher consented to the issuance of the Order without admitting or denying any of the findings in the Order, except that he admitted the entry of the injunction. (Rel. 34-64752; File No. 3-14438)

In the Matter of Printz Capital Management, LLC

On June 27, 2011, the Commission issued an order revoking the registration of Printz Capital Management, LLC (Printz Capital) as an investment adviser with the Commission.

Without admitting or denying the findings in the Order Making Findings and Imposing Remedial Sanctions Pursuant to Section 203(e) of the Investment Advisers Act of 1940 (Order), Printz Capital consented to the entry of the Order finding that it was the subject of a final judgment entered by default in the civil action entitled Securities and Exchange Commission v. Alfred Clay Ludlum, III, et al., Civil Action No. 10-CV-7379, in the United States District Court for the Eastern District of Pennsylvania, in which Printz Capital was permanently enjoined from future violations of the registration provisions of Sections 5(a) and 5(c) the Securities Act of 1933 (Securities Act) and the antifraud provisions of Section 17(a) of the Securities Act, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 (Advisers Act) and other technical provisions in Sections 203A, 204, and 207 of the Advisers Act. Pursuant to the final judgment, Printz Capital also was ordered to pay, jointly and severally with two affiliated defendants, $735,617 in disgorgement, $49,817 in prejudgment interest, and a civil penalty of $735,617. This Order resolves the proceedings previously instituted against Printz Capital in In the Matter of Printz Capital Management, LLC, Administrative Proceeding File No. 3-14314.

The Commission’s complaint in the civil action alleged that Printz Capital is wholly controlled by Alfred Clay Ludlum III (Ludlum), who also controls a number of other business entities, including Printz Financial Group, Inc. and PCM Global Holdings LLC (together with Printz Capital, the Printz Entities). The complaint alleged that Ludlum and the Printz Entities made fraudulent misrepresentations and material omissions to investors, including Printz Capital advisory clients, concerning unregistered offerings of equity and debt securities in the Printz Entities. These investors were told that their funds would be used for working capital and to grow and operate the businesses of the Printz Entities when, in fact, most of these funds were used to support Ludlum’s lifestyle, pay his personal expenses, and repay other investors. The Commission also alleged that Printz Capital fraudulently obtained loans from one advisory client and transferred funds from three advisory client accounts to accounts controlled by Ludlum without those clients’ consents. The complaint further alleged that the Printz Entities, including Printz Capital, failed to register their securities offerings with the Commission, even though no exemption from registration applied, and that Printz Capital violated a number of provisions governing investment advisers.

For further information see Litigation Release No. 21785, Dec. 20, 2010 and the Order Instituting Administrative Proceedings and Notice of Hearing Pursuant to Section 203(e) of the Investment Advisers Act of 1940, In the Matter of Printz Capital Management, LLC, Administrative Proceeding File No. 3-14314, Investment Advisers Act Release No. 3183, March 31, 2011. (Rel. IA-3223; File No. 3-14314)

In the Matter of Elite Resources

The Commission announced that on June 23, 2011, the Honorable Steve C. Jones, United States District Judge for the Northern District of Georgia, entered an order on June 23, 2011, permanently enjoining Patricia Diane Gruber (Gruber), Kadar M. Josey (Josey), Elite Resources, LLC (Elite) and Elite3 Holding Corp. (Elite3) (collectively Defendants). The order restrained and enjoined Defendants from violating of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (Securities Act), Section 10(b) of the Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder and Gruber and Josey from violating Section 15(a) of the Exchange Act. Defendants were also ordered to pay disgorgement, pre-judgment interest and a civil penalty in amounts to be resolved upon motion of the Commission at a later date, and directed that for purposes of that motion, the allegations of the Commission’s Complaint shall be deemed true. Defendants consented to the entry of the order without admitting or denying the allegations of the Commission’s Complaint.

The Commission’s complaint, filed on Oct. 29, 2010, alleges that from at least April 8, 2010 through at least Aug. 20, 2010, Defendants raised approximately $2.85 million from at least nine investors. In raising these funds, the complaint alleges Defendants represented that investors could draw upon bank issued guarantees worth millions of dollars, in one case representing a 40,000% return on investment, without having to repay the withdrawn funds. The complaint also alleges that Defendants further represented that investor funds would be held in escrow until the bank guarantees were issued. The complaint alleges that both of these representations were false in that no such bank guarantees existed and the defendants used almost all of the funds for several undisclosed purposes immediately upon receipt. When investors demanded performance, the complaint alleges that the defendants provided them with a fictitious guarantee certificate purportedly issued by Barclays Bank. [SEC v. Elite Resources, et al., Civil Action Number 1:10-CV-3522-SCJ (N.D. GA.)] (LR-22013)

SEC Charges Two Senior Executives With Accounting Fraud at Southern California-Based Water Treatment Company

The Securities and Exchange Commission today announced charges against two former Basin Water, Inc. executives with fraudulently inflating its revenues, beginning with the company’s first financial report after it went public.

The SEC alleges that former Basin Water chief executive officer Peter L. Jensen and former chief financial officer Thomas C. Tekulve, Jr. improperly recognized revenue to disguise the company’s true financial performance in its 2006 and 2007 quarterly and annual reports. The SEC also alleges that Jensen sold and donated his own Basin Water shares before the company’s true financial condition was revealed, reaping millions of dollars in trading profits and tax benefits. Basin Water built, sold, and leased water treatment systems that cleaned contaminated groundwater.

The SEC’s complaint, filed June 24, 2011, alleges that Jensen and Tekulve improperly included revenue from six sales transactions in Basin Water’s financial reports filed with the Commission. The SEC alleges that, depending upon the transaction, the sale was not final; did not have the customer’s required acceptance of the system; allowed the customer to pay nothing until the customer resold the system, even though there was no resale; did not provide enough assurance that the customer would pay for the system; or where the company had not shipped the system. The SEC alleges that as a result Basin Water overstated its 2006 revenues by 13% and its 2007 revenues by 74% and overstated its quarterly 2006 and 2007 revenues by 10% to 161%. The SEC further alleges that, before the company’s true financial condition was revealed, Jensen sold or donated approximately 1.9 million Basin Water shares for over $9.1 million in trading profits and tax deductions.

In February 2009, Basin Water restated its financial results. In July 2009, the Rancho Cucamonga, Calif.-based company declared Chapter 11 bankruptcy and is now defunct.

The SEC’s complaint charges Jensen and Tekulve with violations of the antifraud, reporting, books and records, certification, and against Tekulve only, misrepresentation to auditor provisions of the federal securities laws. The complaint also alleges control person liability against Jensen and Tekulve for violations of the antifraud and reporting provisions of the federal securities laws. The complaint also alleges that they failed to reimburse Basin Water for bonuses, other incentive or equity-based compensation, and/or trading profits, as required by the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley Act). The complaint seeks permanent injunctions, officer and director bars, disgorgement with prejudgment interest, financial penalties, and Sarbanes-Oxley Act reimbursement. [SEC v. Peter L. Jensen and Thomas C. Tekulve, Jr., Civil Action No. CV 11-05316 R (AGRx) (C.D. Cal.) (LR-22014)

Self-Regulatory Organizations

Proposed Rule Change

NASDAQ OMX BX filed a proposed rule change (SR-BX-2011-034) under Section 19(b)(1) of the Securities Exchange Act of 1934 relating to amending the BOX Trading Rules to establish facilitation and solicitation auction mechanisms. Publication is expected in the Federal Register during the week of June 27. (Rel. 34-64734)

Approval of Proposed Rule Changes

The Commission has approved a proposed rule change (SR-OCC-2011-05) filed by The Options Clearing Corporation under Section 19(b)(1) of the Securities Exchange Act of 1934 to provide flexibility to OCC with respect to its obligations to pay settlement amounts to clearing members generally as well as in emergency situations. Publication is expected in the Federal Register during the week of June 27. (Rel. 34-64740)

The Commission approved a proposed rule change submitted by NASDAQ OMX PHLX (SR-Phlx-2011-65) pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 regarding opening index option months and series. Publication is expected in the Federal Register during the week of June 27. (Rel. 34-64741)

The Commission approved a proposed rule change filed by NYSE Amex, as modified by Amendment No. 1 (SR-NYSEAmex-2011-18), relating to the formation of a Joint Venture between the Exchange, its ultimate parent NYSE Euronext, and seven other entities to operate an electronic trading facility for options contracts. Publication is expected in the Federal Register during the week of June 27. (Rel. 34-64742)

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change (SR-ISE-2011-35) filed by the International Securities Exchange to extend a fee discount pilot program for large-sized foreign currency options 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 27. (Rel. 34-64743)

A proposed rule change filed by NASDAQ OMX PHLX to amend the fee schedule regarding co-location fees for additional power and cable options (SR-Phlx-2011-86) 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 27. (Rel. 34-64745)

Securities Act Registrations

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.


        8027750325 - 0 ($200,000,000.00) Debt, (File 333-175106 - Jun. 24) 
        (BR. 06C)
        8027750325 - 0 ($250,000,000.00) Unallocated (Universal) Shelf, 
        (File 333-175107 - Jun. 24) (BR. 06C)
S-1     North American Financial Holdings, Inc., CORPORATION TRUST CENTER, 
        1209 ORANGE STREET, WILMINGTON, DE, 19801, 800 716 0507 - 
        0 ($300,000,000.00) Equity, (File 333-175108 - Jun. 24) (BR. 07)
S-4     GRIFFON CORP, 712 FIFTH AVENUE, NEW YORK, NY, 10019, 2129575000 - 
        550,000,000 ($550,000,000.00) Debt, (File 333-175109 - Jun. 24) 
        (BR. 06A)
        78209, 2108222828 - 0 ($1,750,000,000.00) Non-Convertible Debt, 
        (File 333-175115 - Jun. 24) (BR. 11C)
S-3     Entergy Louisiana, LLC, 4809 JEFFERSON HIGHWAY, JEFFERSON, LA, 70121, 
        504-840-2734 - 1,000,000 ($1,000,000.00) Other, (File 333-175117 - 
        Jun. 24) (BR. 02C)
        37215, 6156656000 - 0 ($369,564,336.00) Equity, (File 333-175118 - 
        Jun. 24) (BR. 01C)
        CA, 92024, 7604380100 - 10,910,841 ($4,637,108.00) Equity, 
        (File 333-175119 - Jun. 24) (BR. 03C)
S-8     Diversified Restaurant Holdings, Inc., 27680 FRANKLIN ROAD, SOUTHFIELD, 
        MI, 48034, (248) 223-9160 - 1,000,000 ($5.90) Equity, 
        (File 333-175120 - Jun. 24) (BR. 08A)
        (757) 321-5000 - 2,000,000 ($126,400,000.00) Equity, (File 333-175121 - 
        Jun. 24) (BR. 02B)
S-8     MENS WEARHOUSE INC, 5803 GLENMONT DR, HOUSTON, TX, 77081, 7135927200 - 
        0 ($80,187,500.00) Equity, (File 333-175122 - Jun. 24) (BR. 09B)
        95054, 4087658080 - 146,512,737 ($3,120,721,298.00) Equity, 
        (File 333-175123 - Jun. 24) (BR. 10B)
S-3     Blueknight Energy Partners, L.P., TWO WARREN PLACE, 
        6120 SOUTH YALE AVENUE, SUITE 500, TULSA, OK, 74136, (918) 237-4000 - 
        0 ($400,000,000.00) Other, (File 333-175124 - Jun. 24) (BR. 04B)
        14 PAR LA VILLE ROAD, HAMILTON HM 08, D0, 00000, 4412956935 - 
        2,438,199 ($53,079,592.23) Equity, 
        0 ($200,000,000.00) Unallocated (Universal) Shelf, (File 333-175125 - 
        Jun. 24) (BR. 05B)
S-1     BLUEARC CORP, 50 RIO ROBLES DRIVE, SAN JOSE, CA, 95134, 408-576-6600 - 
        0 ($100,000,000.00) Equity, (File 333-175126 - Jun. 24) (BR. 03A)
S-8     Orbitz Worldwide, Inc., 500 W. MADISON STREET, SUITE 1000, CHICAGO, IL, 
        60661, 312-894-5000 - 0 ($7,065,000.00) Equity, (File 333-175127 - 
        Jun. 24) (BR. 05C)
        01532, 5086911150 - 0 ($115,000,000.00) Equity, (File 333-175128 - 
        Jun. 24) (BR. )
        WOODLAND HILLS, CA, 91367, 8184444100 - 2,310,000 ($231,000.00) Equity, 
        (File 333-175129 - Jun. 24) (BR. 09B)
        WOODLAND HILLS, CA, 91367, 8184444100 - 
        11,557,000 ($1,155,700.00) Equity, (File 333-175130 - Jun. 24) (BR. 09B)
        30328, 678-808-0613 - 500,000 ($13,175,000.00) Equity, 
        (File 333-175131 - Jun. 24) (BR. 02B)
        WALL TOWNSHIP, NJ, 07719, 9084497717 - 
        19,000,000 ($7,030,000.00) Equity, (File 333-175132 - Jun. 24) (BR. 05A)
S-8     PETSMART INC, 19601 N 27TH AVE, PHOENIX, AZ, 85027, 6235806100 - 
        0 ($1,111,174,458.00) Equity, (File 333-175133 - Jun. 24) (BR. 02B)
S-1     Converted Organics Inc., 137A LEWIS WHARF, BOSTON, MA, 02110, 
        617 624 0111 - 0 ($9,153,139.28) Equity, (File 333-175134 - Jun. 24) 
        (BR. 05A)
S-1     LyondellBasell Industries N.V., WEENA 737, ROTTERDAM, P7, 3013AM, 
        713-309-4560 - 0 ($602,883,016.00) Non-Convertible Debt, 
        (File 333-175136 - Jun. 24) (BR. 06A)
S-1     Rhino Resource Partners LP, 424 LEWIS HARGETT CIRCLE SUITE 250, 
        LEXINGTON, KY, 40503, (859) 389-6500 - 
        0 ($65,578,750.00) Limited Partnership Interests, (File 333-175138 - 
        Jun. 24) (BR. 04)
S-8     Live Nation Entertainment, Inc., 9348 CIVIC CENTER DRIVE, 
        BEVERLY HILLS, CA, 90210, 310-867-7200 - 0 ($106,400,000.00) Equity, 
        (File 333-175139 - Jun. 24) (BR. 05B)
        92408, 9097335000 - 0 ($255,000,000.00) Non-Convertible Debt, 
        (File 333-175140 - Jun. 24) (BR. 02B)
S-8     Iveda Solutions, Inc., 1201 SOUTH ALMA SCHOOL ROAD, MESA, AZ, 85210, 
        480-307-8700 - 2,000,000 ($2,000,000.00) Equity, (File 333-175143 - 
        Jun. 24) (BR. 06A)
        SUITE 120, BREA, CA, 92821, (714) 671-5720 - 
        75,000,000 ($75,000,000.00) Equity, (File 333-175144 - Jun. 24) 
        (BR. 07B) 

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

30DC, INC.                              MD       9.01                 06/24/11
3Power Energy Group Inc.                NV       5.02                 06/02/11
ACCENTIA BIOPHARMACEUTICALS INC                  7.01,9.01            06/24/11
AE Biofuels, Inc.                                1.01,2.03,9.01       06/20/11
ALLETE INC                              MN       8.01,9.01            06/20/11
ALSERES PHARMACEUTICALS INC /DE         DE       1.01                 06/20/11
AMEDISYS INC                            DE       5.07                 06/09/11    AMEND
AMERICAN AIRLINES INC                   DE       8.01                 06/24/11
AMERICAN EAGLE OUTFITTERS INC           DE       5.02                 06/21/11
AMERICAN REALTY CAPITAL HEALTHCARE TR   MD       2.01,2.03,8.01,9.01  06/21/11
AMKOR TECHNOLOGY INC                    DE       8.01,9.01            06/24/11
AMR CORP                                DE       8.01                 06/24/11
ANGEL ACQUISITION CORP.                 NV       5.02                 06/22/11
ARCA biopharma, Inc.                    DE       8.01                 06/20/11
ARENA PHARMACEUTICALS INC               DE       8.01                 06/24/11
ATLANTIC POWER CORP                     A1       1.01,9.01            06/20/11
AUTOBYTEL INC                           DE       5.07                 06/23/11
AUTOMATIC DATA PROCESSING INC           DE       1.01,2.03,9.01       06/24/11
Banks.com, Inc.                         FL       3.01,9.01            06/20/11
BAR HARBOR BANKSHARES                   ME       5.02                 06/21/11
BECKMAN COULTER INC                     DE       1.02,5.02            06/20/11
BEHRINGER HARVARD MULTIFAMILY REIT I             7.01,9.01            06/24/11
BEST BUY CO INC                         MN       5.02,5.07            06/21/11
BIOCANCELL THERAPEUTICS INC.                     8.01                 06/23/11
BIOGEN IDEC INC.                        DE       5.02                 06/23/11
BIOPHARM ASIA, INC.                     NV       1.01,9.01            06/24/11
BLASTGARD INTERNATIONAL INC             CO       1.01,3.02,8.01,9.01  06/17/11
BOWL AMERICA INC                        MD       5.02,9.01            06/21/11
BRIGHAM EXPLORATION CO                  DE       5.07,9.01            06/21/11
BROADRIDGE FINANCIAL SOLUTIONS, INC.    DE       7.01,9.01            06/22/11
CAMBREX CORP                            DE       5.02,9.01            06/24/11
CAMPBELL SOUP CO                        NJ       5.02,5.03,9.01       06/23/11
CAPITAL ONE FINANCIAL CORP              DE       5.02                 06/20/11
CAPSTEAD MORTGAGE CORP                  MD       8.01,9.01            06/23/11
CARBON 612 Corp                         DE       4.01,9.01            06/24/11    AMEND
Cardium Therapeutics, Inc.              DE       8.01,9.01            06/22/11
Casablanca Mining Ltd.                  NV       8.01,9.01            06/23/11
Cavico Corp                                      3.01,9.01            06/17/11
CBEYOND, INC.                                    5.07                 06/22/11
CCFNB BANCORP INC                       PA       8.01                 06/24/11
CEDAR FAIR L P                          DE       1.01,5.02,9.01       06/20/11
China Pharmaceuticals Inc               NV       5.03,9.01            06/20/11
CHIQUITA BRANDS INTERNATIONAL INC       NJ       5.02                 06/20/11
Cinedigm Digital Cinema Corp.           DE       5.02                 06/20/11
CITIGROUP INC                           DE       5.02                 06/23/11
Clear Skies Solar, Inc                  DE       4.01,9.01            06/24/11    AMEND
CLEVELAND BIOLABS INC                   DE       7.01,8.01,9.01       06/23/11
CLIFTON SAVINGS BANCORP INC                      8.01,9.01            06/22/11
CMG HOLDINGS, INC.                      NV       1.01,9.01            06/24/11
COATES INTERNATIONAL LTD \DE\           DE       8.01,9.01            06/23/11
COLGATE PALMOLIVE CO                    DE       2.01,9.01            06/20/11
CombiMatrix Corp                        DE       5.07                 06/22/11
Compressco Partners, L.P.               DE       1.01,2.01,2.03,3.02, 06/20/11
CONAGRA FOODS INC /DE/                  DE       5.02                 06/20/11
Conmed Healthcare Management, Inc.      DE       8.01,9.01            06/24/11
CROSS COUNTRY HEALTHCARE INC            DE       5.02,9.01            06/21/11
CROWN MEDIA HOLDINGS INC                DE       5.07                 06/22/11
CSB BANCORP INC /OH                     OH       1.01,9.01            06/24/11
CUMBERLAND PHARMACEUTICALS INC                   1.01,9.01            06/20/10
DANAHER CORP /DE/                       DE       2.03                 06/20/11
DEMAND MEDIA INC.                       DE       5.07                 06/22/11
DEPOMED INC                             CA       1.01,8.01            06/20/11
DIODES INC /DEL/                        DE       7.01,9.01            06/24/11
DOLPHIN DIGITAL MEDIA INC               NV       4.01,9.01            06/20/11
Douglas Lake Minerals Inc.              NV       5.02                 06/21/11
DPAC TECHNOLOGIES CORP                  CA       1.01,9.01            06/22/11
DUCOMMUN INC /DE/                       DE       1.01,8.01,9.01       06/23/11
DURECT CORP                             DE       8.01,9.01            06/23/11
Eagle Ford Oil & Gas Corp               NV       1.01,2.01,2.02,5.01, 06/24/11
EDUtoons, Inc.                          DE       5.02                 06/21/11
ELANDIA INTERNATIONAL INC.              DE       5.02                 06/20/11
EMMIS COMMUNICATIONS CORP               IN       2.05,9.01            06/20/11    AMEND
EMPIRE RESORTS INC                      DE       8.01,9.01            06/24/11
ENDO PHARMACEUTICALS HOLDINGS INC       DE       8.01,9.01            06/23/11
Energy Transfer Equity, L.P.            DE       7.01,8.01,9.01       06/23/11
EnerJex Resources, Inc.                 NV       7.01,8.01,9.01       06/22/11
ES Bancshares, Inc.                     MD       8.01,9.01            06/20/11
EVCARCO, INC.                           NV       5.03                 06/22/11
EVOLVING SYSTEMS INC                    DE       5.07,8.01,9.01       06/23/11
FARMERS NATIONAL BANC CORP /OH/         OH       5.02,9.01            06/21/11
Federal Home Loan Bank of Boston        X1       2.03                 06/20/11
Federal Home Loan Bank of Dallas                 2.03,9.01            06/20/11
Federal Home Loan Bank of Seattle                5.02                 06/24/11
FEDERAL HOME LOAN MORTGAGE CORP                  7.01,9.01            06/24/11
FEDERAL HOME LOAN MORTGAGE CORP                  8.01                 06/22/11
FIRST CASH FINANCIAL SERVICES INC       DE       5.02,5.07            06/22/11
First Guaranty Bancshares, Inc.         LA       9.01                 06/23/11
FLEETCOR TECHNOLOGIES INC               DE       1.01,1.02,2.03,9.01  06/22/11
FLUOROPHARMA MEDICAL, INC.              NV       1.01,3.02,9.01       06/22/11
FOOT LOCKER INC                         NY       5.02,9.01            06/22/11
FOREST LABORATORIES INC                 DE       9.01                 06/24/11    AMEND
FRANKLIN COVEY CO                       UT       8.01                 06/24/11
FREMONT MICHIGAN INSURACORP INC         MI       8.01,9.01            06/24/11
FULTON FINANCIAL CORP                   PA       1.01,5.02,5.03,9.01  06/24/11
FUSION TELECOMMUNICATIONS INTERNATION   DE       1.01,2.03,9.01       06/24/11

GARMIN LTD                              V8       8.01,9.01            06/24/11
GENERAL STEEL HOLDINGS INC              NV       5.02,5.07            06/20/11
GENTA INC DE/                           DE       8.01                 06/24/11
GeoVax Labs, Inc.                       DE       5.02                 06/22/11
GigOptix, Inc.                          DE       8.01                 06/23/11
Global Pharm Holdings Group, Inc.       DE       5.07                 06/21/11
Golden Minerals Co                               8.01,9.01            06/24/11
Google Inc.                             DE       8.01                 06/23/11
GP STRATEGIES CORP                      DE       9.01                 04/15/11    AMEND
GRAYSON BANKSHARES INC                  VA       5.02                 06/14/11
GRAYSON BANKSHARES INC                  VA       8.01,9.01            06/24/11
GREIF INC                               DE       1.01                 06/24/11
GRIFFON CORP                            DE       8.01,9.01            06/24/11
HANCOCK HOLDING CO                      MS       5.02                 06/21/11
HARBINGER GROUP INC.                    DE       1.01                 06/23/11
HARRIS INTERACTIVE INC                  DE       5.02                 06/22/11
Heart Tronics,                          DE       1.01,3.02,8.01,9.01  06/24/11
HEMISPHERX BIOPHARMA INC                DE       1.01,5.02,5.03,8.01, 06/22/11
HERCULES TECHNOLOGY GROWTH CAPITAL IN   MD       1.01,2.03,8.01,9.01  06/20/11
ICF International, Inc.                 DE       7.01,9.01            06/24/11
IDENIX PHARMACEUTICALS INC              DE       5.02,9.01            06/20/11
Industrial Income Trust Inc.            MD       5.07                 06/23/11
INTERDOM, CORP.                         NV       5.01,5.02,8.01       06/14/11
INTERNATIONAL RECTIFIER CORP /DE/       DE       5.02,9.01            06/23/11
IRON MINING GROUP, INC.                          2.04                 06/20/11
ITP Energy Corp                                  1.01,2.01,3.02,4.01, 04/29/11    AMEND
IXYS CORP /DE/                          DE       5.02                 06/20/11
KBS Real Estate Investment Trust III,   MD       1.01,2.01            06/24/11
KEMET CORP                              DE       8.01,9.01            06/24/11
Kennedy-Wilson Holdings, Inc.           DE       5.07,9.01            06/23/11
KEWAUNEE SCIENTIFIC CORP /DE/           DE       5.02,9.01            06/22/11
KFORCE  INC                             FL       5.07                 06/21/11
KV PHARMACEUTICAL CO /DE/               DE       8.01                 06/21/11
LANTRONIX INC                           DE       2.04,5.02,8.01,9.01  06/22/11
LEVEL 3 COMMUNICATIONS INC              DE       8.01,9.01            06/24/11    AMEND
LIGAND PHARMACEUTICALS INC              DE       7.01,9.01            06/23/11    AMEND
LINCOLN NATIONAL CORP                   IN       8.01,9.01            06/24/11
LIONS GATE ENTERTAINMENT CORP /CN/               8.01,9.01            06/23/11
LOCKHEED MARTIN CORP                    MD       5.02,5.03,9.01       06/23/11
LPATH, INC                              NV       5.07                 06/22/11
Maiden Holdings, Ltd.                   D0       2.03,8.01,9.01       06/17/11
MAINSOURCE FINANCIAL GROUP              IN       5.02,9.01            06/20/11
MANNATECH INC                           TX       8.01,9.01            06/23/11
MATCHES, INC.                           NV       1.01,2.01,4.01,5.01, 12/17/10    AMEND
MCGRAW-HILL COMPANIES INC               NY       7.01                 06/24/11
MedQuist Holdings Inc.                  DE       8.01                 06/17/11
MEDQUIST INC                            NJ       8.01,9.01            06/17/11
MERA PHARMACEUTICALS INC                DE       4.01,9.01            06/10/11    AMEND
MID AMERICA APARTMENT COMMUNITIES INC   TN       7.01,9.01            06/24/11
MONKEY ROCK GROUP, INC.                 DE       1.01,3.02,9.01       06/24/11
MOTRICITY INC                           DE       9.01                 04/14/11    AMEND
MULTI COLOR Corp                        OH       1.01,9.01            06/22/11
NET TALK.COM, INC.                      FL       2.03,9.01            06/23/11
New York & Company, Inc.                         5.07                 06/22/11
NEWELL RUBBERMAID INC                   DE       5.02,9.01            06/23/11
News of China Inc                       DE       8.01                 06/15/11
Nile Therapeutics, Inc.                 DE       1.01,3.02,9.01       06/20/11
NORCRAFT COMPANIES LP                            5.02                 06/22/11
NORTHROP GRUMMAN CORP /DE/              DE       5.02,9.01            06/20/11
NOVASTAR FINANCIAL INC                  MD       8.01,9.01            06/23/11
NYSE Euronext                           DE       8.01                 06/23/11
Oasis Petroleum Inc.                    DE       8.01                 06/24/11
Och-Ziff Capital Management Group LLC   DE       5.02,9.01            06/21/11
Oconee Federal Financial Corp.                   8.01,9.01            06/23/11
OHIO LEGACY CORP                        OH       1.01,9.01            06/24/11
Ohr Pharmaceutical Inc                           8.01                 06/21/11
OLD LINE BANCSHARES INC                 MD       5.07                 06/23/11
PACIFIC BIOSCIENCES OF CALIFORNIA INC            5.07                 06/23/11
PALATIN TECHNOLOGIES INC                DE       5.02,9.01            06/22/11
PDL BIOPHARMA, INC.                     DE       5.07                 06/22/11
Pebblebrook Hotel Trust                 MD       1.01,7.01,9.01       06/20/11
PEPCO HOLDINGS INC                      DE       7.01,9.01            06/24/11
PERNIX THERAPEUTICS HOLDINGS, INC.      MD       5.07                 06/23/11
PILGRIMS PRIDE CORP                     DE       1.01,2.03,9.01       06/23/11
PIONEER NATURAL RESOURCES CO            DE       7.01                 06/24/11
PPL ENERGY SUPPLY LLC                   PA       8.01,9.01            06/24/11
PREFERRED APARTMENT COMMUNITIES INC     MD       9.01                 04/11/11    AMEND
PRIMEDIA INC                            DE       8.01,9.01            06/24/11
PRIVATE MEDIA GROUP INC                 NV       5.07                 06/20/11
Puda Coal, Inc.                                  3.01,8.01,9.01       06/20/11
RDA Holding Co.                                  5.02                 06/22/11
READING INTERNATIONAL INC               NV       1.01                 06/24/11
REDFIN NETWORK, INC.                    NV       1.01,3.02,9.01       06/20/11
Rhino Resource Partners LP              DE       8.01                 06/24/11
RITE AID CORP                           DE       5.02,5.07,8.01       06/23/11
RLJ Lodging Trust                       MD       1.01,2.03,7.01,9.01  06/20/11
ROBERTS REALTY INVESTORS INC            GA       1.01,2.03,9.01       06/23/11
SARATOGA RESOURCES INC /TX              TX       7.01,9.01            06/24/11
Shire plc                                        8.01,9.01            06/24/11
Sino Green Land Corp                    NV       3.02,8.01,9.01       06/03/11
SINOCOKING COAL & COKE CHEMICAL INDUS   FL       1.01,9.01            06/17/11
SMITH MICRO SOFTWARE INC                DE       5.07                 06/23/11
Soltera Mining Corp.                    NV       3.02,7.01,9.01       06/23/11
Southern Products, Inc.                 NV       1.01,9.01            06/07/11
SOUTHERN UNION CO                       DE       8.01,9.01            06/23/11
SOUTHERN UNION CO                       DE       8.01,9.01            06/24/11
SWS GROUP INC                           DE       5.02                 06/23/11
SYNERGY RESOURCES CORP                  CO       1.01,3.02,5.02,9.01  06/22/11
TANGER FACTORY OUTLET CENTERS INC       NC       8.01                 06/24/11
TEGAL CORP /DE/                         DE       1.01,9.01            06/21/11
TENGASCO INC                            TN       5.07                 06/20/11
THOMAS GROUP INC                        DE       5.07                 06/22/11
THRESHOLD PHARMACEUTICALS INC           DE       8.01,9.01            06/21/11
Titan Energy Worldwide, Inc.            NV       1.01,9.01            06/17/11
TITANIUM METALS CORP                    DE       8.01,9.01            06/24/11
Titon Iron Ore Corp.                    NV       1.01,3.02,9.01       06/20/11
TRANS1 INC                                       5.02                 06/23/11
Transcept Pharmaceuticals Inc           DE       5.07                 06/23/11
TRANSIT MANAGEMENT HOLDING CORP                  5.07                 06/20/11
TRIMAS CORP                             DE       1.01,2.03,8.01,9.01  06/21/11
Trio Merger Corp.                       DE       1.01,9.01            06/21/11
TRIUMPH GROUP INC                       DE       1.01,2.03,9.01       06/20/11
UIL HOLDINGS CORP                       CT       7.01,9.01            06/24/11
UNION BANKSHARES INC                    VT       8.01,9.01            06/23/11
UNITED INSURANCE HOLDINGS CORP.         DE       2.02,7.01,9.01       06/24/11
UNITED INSURANCE HOLDINGS CORP.         DE       1.01                 06/01/11    AMEND
UNIVEST CORP OF PENNSYLVANIA            PA       5.07                 04/19/11    AMEND
US AIRWAYS GROUP INC                    DE       8.01,9.01            06/22/11
US ENERGY CORP                          WY       5.07                 06/24/11
USG CORP                                DE       3.02,9.01            06/21/11
UTAH MEDICAL PRODUCTS INC               UT       9.01                 03/17/11    AMEND
UV FLU TECHNOLOGIES INC                 NV       5.03                 03/01/11
VANGUARD HEALTH SYSTEMS INC             DE       2.04,8.01,9.01       06/24/11
Verdant Automotive Corp                          1.01,2.01,5.01,5.02, 05/11/11    AMEND
VERIZON COMMUNICATIONS INC              DE       7.01                 06/24/11
Virolab, Inc.                           DE       1.01,2.01,5.06       03/18/11    AMEND
VIROPHARMA INC                          DE       8.01,9.01            06/24/11
Vitacost.com, Inc.                      DE       7.01                 06/24/11
VOICESERVE INC                          DE       3.02                 06/21/11
Volcom Inc                                       2.01,3.01,3.02,3.03, 06/22/11

VOLTERRA SEMICONDUCTOR CORP                      5.02                 06/20/11
WASHINGTON BANKING CO                   WA       5.02,9.01            06/24/11
WASTE MANAGEMENT INC                    DE       5.03,9.01            06/21/11
WASTE MANAGEMENT INC                    DE       5.03,9.01            06/21/11
WAYNE SAVINGS BANCSHARES INC /DE/       DE       7.01,9.01            06/24/11
WESCO FINANCIAL CORP                    CA       2.01,3.01,3.03,5.01, 06/24/11
WILLIAMS COMPANIES INC                  DE       8.01,9.01            06/23/11
YAHOO INC                               DE       5.07                 06/23/11



Modified: 06/27/2011