SEC Sues Fund Adviser for Fees Charged in Breach of Duty Under the Investment Company Act
The Securities and Exchange Commission today sued AMMB Consultant Sendirian Berhad (AMC), a Malaysian investment adviser, alleging that for more than a decade, AMC charged a U.S. registered fund for advisory services that AMC did not provide. The SEC alleges that by doing so, AMC breached its fiduciary duty with respect to compensation under the Investment Company Act of 1940.
Kuala Lumpur-based AMC served as a sub-adviser to the Malaysia Fund, Inc., a closed-end fund that invests in Malaysian companies, whose principal investment adviser is Morgan Stanley Investment Management, Inc. (MSIM). The SEC alleges that AMC misrepresented its services during the fund’s annual advisory agreement review process for each year for more than 10 years, and AMC collected fees for advisory services that it did not provide.
AMC, a unit of AMMB Holdings Berhad, one of Malaysia’s largest banking groups, agreed to pay $1.6 million to settle the SEC’s charges, without admitting or denying the allegations. The case follows the SEC’s recent related action against the Malaysia Fund’s primary adviser, MSIM, and is part of an inquiry into the investment advisory contract renewal process by the SEC Enforcement Division’s Asset Management Unit.
“We are committed to ensuring that advisers to registered funds adhere to their fiduciary duty with respect to the receipt of compensation. Here, AMC breached that duty by charging fees for services that were not rendered,” said Bruce Karpati, Chief of the Asset Management Unit in the SEC’s Division of Enforcement.
AMC’s advisory fees were approved each year from 1996 to 2007 as part of the “15(c) process,” a reference to Section 15(c) of the Investment Company Act of 1940, which requires a registered fund’s board to annually evaluate the fund’s advisory agreements, and advisers to provide the board with information reasonably necessary to make that evaluation.
According to the SEC, AMC submitted a report to the Malaysia Fund’s board of directors each year that falsely claimed that AMC was providing specific advice, research, and assistance to MSIM for the benefit of the fund. In reality, the SEC’s complaint said AMC’s services were limited to providing two monthly reports based on publicly available information that MSIM did not request or use. Moreover, the SEC alleged that AMC failed to adopt and implement adequate policies, procedures, and controls over its advisory business, contrary to certifications provided to the fund’s directors in 2006 and 2007. AMC’s advisory agreement with the fund was terminated in early 2008 after the SEC’s examination staff inquired about the services AMC was purportedly providing to the fund.
The SEC’s complaint, filed in the U.S. District Court for the District of Columbia, alleges that AMC breached its fiduciary duty with respect to the receipt of compensation within the meaning of Section 36(b) of the Investment Company Act of 1940. The SEC also alleges that AMC violated Sections 206(2) and (4) of the Investment Advisers Act of 1940, and Rule 206(4)-7 thereunder, and Section 15(c) of the Investment Company Act of 1940. AMC consented to a judgment that bars it from violating these provisions in the future. AMC has also agreed to disgorge $1.3 million of its advisory fees paid by the fund and pay a $250,000 penalty.
Chad Alan Earnst, Christine Lynch, and Jessica Weiner, of the Enforcement Division’s Asset Management Unit staff, conducted the investigation along with Tonya Tullis and Edward D. McCutcheon. Karen Stevenson, Susan Schneider, and Dennis Delaney conducted the related examinations.
The SEC acknowledges the assistance of the Securities Commission of Malaysia and the Monetary Authority of Singapore. (Press Rel. 2012-120)
SEC Charges Founder of Equity Research Firm With Insider Trading
The Securities and Exchange Commission today charged Tai Nguyen, the owner of the California-based equity research firm Insight Research, with insider trading. The charges stem from the SEC’s ongoing investigation of insider trading involving so-called “expert networks” that provide specialized information to investment firms.
The SEC alleges that from 2006 through 2009, Nguyen frequently traded in the securities of Abaxis, Inc. based on inside information he received from a close relative employed at Abaxis. Nguyen repeatedly traded for himself in advance of the company’s quarterly earnings announcements while in possession of key data in those announcements, reaping tens of thousands of dollars in illicit profits. Nguyen also passed that same information to hedge fund clients of Insight Research, who used the inside information to make millions of dollars in profits from trading Abaxis securities.
“Nguyen claimed expertise in researching and analyzing technology companies, but his special edge was his willingness to break the law,” said Sanjay Wadhwa, Associate Director of the SEC’s New York Regional Office and Deputy Chief of the Market Abuse Unit. “Like many other so-called ‘experts’ who trafficked in inside information, Nguyen now finds himself the subject of an enforcement action.”
The SEC has charged 23 defendants in enforcement actions arising out of its expert networks investigation, which has uncovered widespread insider trading at several hedge funds and other investment advisory firms. The insider trading alleged by the SEC has yielded illicit gains of more than $117 million, chiefly in shares of technology companies, including Apple, Dell, Fairchild Semiconductor, and Marvell Technology.
According to the SEC’s complaint, filed in federal court in Manhattan, Nguyen regularly obtained material nonpublic information about Abaxis Inc.’s quarterly earnings -- including revenues, gross profit margins and earnings per share -- from a relative who worked in Abaxis’s finance department. Nguyen used the information to trade Abaxis securities in his own account and reaped approximately $145,000 in illicit trading profits from 2006 through 2009.
In addition to trading in his own account, the SEC alleges that Nguyen passed the inside information to New York-based Barai Capital Management and Boston-based Sonar Capital Management, both of which were clients of Nguyen’s firm, Insight Research. The two hedge fund managers – who collectively were paying Insight Research tens of thousands of dollars each month – traded Abaxis securities based on the inside information that Nguyen provided and reaped more than $7.2 million in illicit gains for their hedge funds.
The SEC’s complaint charges Nguyen with violating the anti-fraud provisions of U.S. securities laws and seeks a final judgment ordering him to disgorge his ill-gotten gains, with interest, and pay financial penalties, and permanently barring him from future violations.
The SEC’s investigation is continuing. Daniel Marcus and Joseph Sansone, members of the SEC’s Market Abuse Unit in New York, conducted the investigation, along with Matthew Watkins, Neil Hendelman, Diego Brucculeri, and James D’Avino of the New York Regional Office. The SEC thanks the U.S. Attorney’s Office for the Southern District of New York and the Federal Bureau of Investigation for their assistance in the matter. (Press Rel. 2012-121)
Delinquent Filer’s Stock Registration Revoked
The registration of the registered securities of Global Teledata Corp. has been revoked. It had repeatedly failed to file required annual and quarterly reports with the Securities and Exchange Commission. Thus, it 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 revocation was ordered in an administrative proceeding before an administrative law judge. (Rel. 34-67254; File No. 3-14902)
In the Matter of Roberto Aleph Espinosa
On June 26, 2012, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act) and Section 203(f) of the Investment Advisers Act of 1940 (Advisers Act), Making Findings and Imposing Remedial Sanctions (Order) against Roberto Aleph Espinosa. The Order finds that on June 12, 2012, a final judgment was entered against Espinosa, permanently enjoining him from future violations of Section 15(a) of the Exchange Act, Sections 206(1), 206(2), 206(4), and Rule 206(4)-8(a) of the Advisers Act, and aiding and abetting violations of Sections 206(1), 206(2), 206(4), and Rule 206(4)-8(a) of the Advisers Act in the civil action entitled Securities and Exchange Commission v. Jorge Gomez and Roberto Aleph Espinosa, Civil Action Number 12-CV-21962-Ungaro, in the United States District Court for the Southern District of Florida.
The complaint alleged that from October 2008 to September 2010, Espinosa, through Aleph, operated as a broker-dealer while he was not registered with the Commission as a broker or dealer and was not associated with an entity registered as a broker or dealer. In addition, while serving as investment adviser to a client (the Client), Espinosa observed the Client’s co-adviser withdraw more than $4.3 million from the Client’s brokerage account without alerting the Client to the activity. Moreover, upon receipt of a September 11, 2010 email, which alerted Espinosa to the possibility that the co-adviser was committing fraud, Espinosa failed to alert the client to the email or raise the issue of potential fraud with the Client. In addition, Espinosa failed to disclose various fees to the Client and his other investment advisory clients including the ACG Global Fund, Ltd.
Based on the above, the Order bars Espinosa, with the right to apply for reentry after three years, from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical ratings organization. The Order also bars Espinosa from participating in any offering of a penny stock. Espinosa consented to the issuance of the Order without admitting or denying any of the findings in Order, except he admitted to the entry of the injunction. (Rel. 34-67267; IA-3423; File No. 3-14927)
Immediate Effectiveness of Proposed Rule Changes
A proposed rule change filed by Financial Industry Regulatory Authority, Inc. to amend Sections 4 and 6 of Schedule A to the FINRA By-Laws regarding fees relating to the Central Registration Depository (SR-FINRA-2012-030) 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 July 2. (Rel. 34-67247)
A proposed rule change filed by the International Securities Exchange, LLC to amend the Exchange’s Obvious Error rule (SR-ISE-2012-56) 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 July 2. (Rel. 34-67251)
Approval of Proposed Rule Changes
The Commission granted approval of a proposed rule change (SR-NYSEArca-2012-19), as modified by Amendment No. 1 thereto, submitted by NYSE Arca, Inc. pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to amend Commentary .01 to NYSE Arca Rule 6.35. Publication is expected in the Federal Register during the week of July 2. (Rel. 34-67248)
The Commission approved a proposed rule change submitted by NYSE Arca, Inc. (SR-NYSEArca-2012-05), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder, adding new paragraph (cc) to NYSE Arca Options Rule 6.62 to provide for a Post No Preference Light Only quotation. Publication is expected in the Federal Register during the week of July 2. (Rel. 34-67252)
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-8 EWaste Systems, Inc., 101 FIRST STREET, NUMBER 493, LOS ALTOS, CA, 94022, 650-283-2907 - 5,000,000 ($175,000.00) Debt, (File 333-182304 - Jun. 25) (BR. 02) S-1 Linn Co LLC, 600 Travis Suite 5100, Houston, TX, 77002, 281-840-4000 - 0 ($1,000,000,000.00) Equity, (File 333-182305 - Jun. 25) (BR. 04A) S-4 Energy Transfer Partners, L.P., 3738 OAK LAWN AVENUE, DALLAS, TX, 75219, 214-981-0700 - 56,709,855 ($2,368,947,433.00) Limited Partnership Interests, (File 333-182306 - Jun. 25) (BR. 02B) S-4 SONIC AUTOMOTIVE INC, 4401 COLWICK ROAD, CHARLOTTE, NC, 28211, 704-566-2400 - 0 ($85,125,055.00) Equity, (File 333-182307 - Jun. 25) (BR. 02A) S-1 AMERICAN POWER CORP., 16 MARKET SQUARE CENTRE, 1400 16TH STREET, SUITE 400, DENVER, CO, 80202, 720.932.8389 - 0 ($1,570,000.00) Equity, (File 333-182309 - Jun. 25) (BR. 06C) S-8 DIAGEO PLC, LAKESIDE DRIVE, PARK ROYAL, LONDON, X0, NW10 7HQ, 442089786000 - 0 ($25,008,929.00) Equity, (File 333-182315 - Jun. 25) (BR. 09B) S-8 TYLER TECHNOLOGIES INC, 5949 SHERRY LANE, SUITE 1400, DALLAS, TX, 75225, 9727133700 - 1,000,000 ($40,685,000.00) Equity, (File 333-182318 - Jun. 25) (BR. 03B) S-3 Kandi Technologies Corp, JINHUA CITY INDUSTRIAL ZONE, ZHEJIANG PROVINCE, JINHUA, F4, 321016, (86-0579) 82239851 - 2,354,212 ($6,238,661.80) Equity, (File 333-182319 - Jun. 25) (BR. 05C) S-8 RITE AID CORP, 30 HUNTER LANE, CAMP HILL OWN, PA, 17011, 7177612633 - 0 ($33,772,500.00) Equity, (File 333-182320 - Jun. 25) (BR. 01B) S-8 HiSoft Technology International Ltd, 33 LIXIAN STREET, QIXIANLING INDUSTRIAL BASE, HI-TECH ZONE, DALIAN, F4, 116023, 86-411-8455-6655 - 0 ($33,214,288.10) ADRs/ADSs, (File 333-182321 - Jun. 25) (BR. 03C) S-1 GRANDPARENTS.COM, INC., 589 EIGHTH AVENUE, 6TH FLOOR, NEW YORK, NY, 10018, 646-839-8800 - 19,775,632 ($9,195,668.89) Equity, (File 333-182326 - Jun. 25) (BR. 03B) F-1 Rosetta Genomics Ltd., 10 PLAUT STREET, SCIENCE PARK, POB 4059, REHOVOT, L3, 76706, 972-73-222-0700 - 0 ($35,000,000.00) Equity, (File 333-182329 - Jun. 25) (BR. 01A) S-3 CELL THERAPEUTICS INC, 3101 WESTERN AVENUE, SUITE 600, SEATTLE, WA, 98121, 2062827100 - 0 ($8,193,277.30) Equity, (File 333-182330 - Jun. 25) (BR. 01A) S-3 NORTHERN STATES POWER CO, 414 NICOLLET MALL, MINNEAPOLIS, MN, 55401, 6123305500 - 1,200,000,000 ($1,200,000,000.00) Debt, (File 333-182331 - Jun. 25) (BR. 02C)
Form 8-K is used by companies to file current reports on the following events:
8-K reports may be viewed in person in the Commission's Public Reference Branch at 100 F Street, N.E., Washington, D.C. To obtain paper copies, please refer to information on the Commission's Web site at http://www.sec.gov/answers/publicdocs.htm. In most cases, you can view and download this information by using the search function located at http://www.sec.gov/edgar/searchedgar/companysearch.html.
STATE NAME OF ISSUER CODE 8K ITEM NO. DATE COMMENT ----------------------------------------------------------------------------------------- ACCELERATED ACQUISITIONS XVIII DE 5.03,9.01 06/18/12 AFFYMETRIX INC DE 1.01,2.01,2.03,9.01 06/25/12 ALEXANDERS J CORP TN 8.01,9.01 06/25/12 ALL AMERICAN PET COMPANY, INC. NV 1.01,9.01 06/11/12 AMETEK INC/ DE 5.02 06/25/12 AMP Holding Inc. NV 1.01,2.03,3.02,9.01 05/02/12 APARTMENT INVESTMENT & MANAGEMENT CO MD 1.01,9.01 06/21/12 Apartment Trust of America, Inc. 7.01,9.01 06/25/12 APOLLO GROUP INC AZ 2.02,5.02,9.01 06/21/12 APPLETON PAPERS INC/WI 1.01,9.01 06/20/12 Asia Green Agriculture Corp NV 5.07 06/25/12 AspenBio Pharma, Inc. CO 3.01,8.01,9.01 06/25/12 Astex Pharmaceuticals, Inc DE 5.07 06/22/12 ATLANTIC POWER CORP A1 5.07 06/22/12 ATLANTIC POWER CORP A1 8.01 06/25/12 AUTOBYTEL INC DE 5.07,8.01,9.01 06/21/12 AXIS CAPITAL HOLDINGS LTD 5.02,9.01 06/25/12 BAYLAKE CORP WI 5.02,9.01 06/19/12 BeesFree, Inc. NV 5.02,7.01,9.01 06/19/12 BEST BUY CO INC MN 5.02,9.01 06/21/12 Black Sea Metals Inc. NV 7.01,9.01 06/21/12 BONAMOUR PACIFIC INC NV 1.01,3.02,3.03,5.03 06/21/12 9.01 BRT REALTY TRUST MA 1.01,2.01,2.03,9.01 06/20/12 Burger King Worldwide, Inc. DE 1.01,3.02,4.01,5.01, 06/19/12 5.02,5.03,8.01,9.01 CALLON PETROLEUM CO DE 1.01,2.03,7.01,9.01 06/19/12 Calumet Specialty Products Partners, DE 1.01,8.01,9.01 06/21/12 CAPSTEAD MORTGAGE CORP MD 5.02,9.01 06/20/12 Carbon Natural Gas Co DE 8.01,9.01 06/05/12 AMEND CATALYST HEALTH SOLUTIONS, INC. DE 8.01 06/25/12 CATERPILLAR INC DE 1.01,9.01 06/21/12 CENTURYLINK, INC LA 8.01,9.01 06/25/12 CHICOS FAS INC FL 5.02,5.07,8.01,9.01 06/21/12 China Intelligence Information System NV 5.02 06/19/12 China Natural Gas, Inc. DE 4.01,9.01 04/20/12 AMEND CHINA SUN GROUP HIGH-TECH CO NC 5.02 06/19/12 CHINACAST EDUCATION CORP DE 3.01,8.01 06/19/12 CIFC Corp. DE 5.02 06/19/12 CNS RESPONSE, INC. DE 1.01,2.03 06/19/12 COBRA ELECTRONICS CORP DE 5.02,9.01 06/20/12 COEUR D ALENE MINES CORP ID 2.06,7.01,8.01,9.01 06/25/12 COINSTAR INC DE 7.01,8.01,9.01 06/22/12 Command Center, Inc. WA 4.01,9.01 06/19/12 AMEND COMMUNITY FIRST BANCORP SC 5.07 06/21/12 COMPREHENSIVE CARE CORP DE 1.01,8.01,9.01 06/20/12 Computer Software Innovations, Inc. DE 5.02,9.01 06/01/12 COOPER COMPANIES INC DE 8.01,9.01 06/25/12 Cord Blood America, Inc. FL 1.01,2.03,8.01,9.01 06/22/12 DEPOMED INC CA 1.01,2.01 06/21/12 DIAMOND HILL INVESTMENT GROUP INC OH 8.01,9.01 06/25/12 Digital Cinema Destinations Corp. DE 8.01,9.01 06/25/12 DOLLAR THRIFTY AUTOMOTIVE GROUP INC DE 1.01,9.01 06/22/12 Duke Energy CORP DE 8.01,9.01 06/25/12 DUNKIN' BRANDS GROUP, INC. DE 7.01,9.01 06/25/12 DYNEGY INC. DE 7.01,9.01 06/25/12 EAGLE MATERIALS INC DE 5.02 06/19/12 EATON CORP OH 7.01,9.01 06/22/12 EBIX INC DE 8.01 06/19/12 AMEND Echo Global Logistics, Inc. DE 5.02,5.07 06/20/12 EDUCATION MANAGEMENT CORPORATION 7.01 06/21/12 Elevate, Inc. NV 5.02 04/30/12 ELLIE MAE INC DE 8.01,9.01 06/25/12 ENDEAVOUR INTERNATIONAL CORP NV 7.01,9.01 06/25/12 Energy Transfer Partners, L.P. DE 8.01,9.01 06/22/12 ENNIS, INC. TX 2.02,9.01 06/25/12 EQUITY RESIDENTIAL MD 5.07 06/25/12 ESP Resources, Inc. NV 3.02 06/19/12 EVOLVING SYSTEMS INC DE 5.07 06/20/12 Exelis Inc. IN 5.02 06/25/12 Expedia, Inc. 8.01,9.01 06/25/12 Exterra Energy Inc. NV 7.01,9.01 06/20/12 EZCORP INC DE 5.02 06/19/12 F&M BANK CORP VA 5.02 06/21/12 Facebook Inc 5.02 06/24/12 Federal Home Loan Bank of Dallas 2.03,9.01 06/19/12 Federal Home Loan Bank of Pittsburgh PA 5.02 06/22/12 FEDERAL SIGNAL CORP /DE/ DE 1.01,5.02,9.01 06/20/12 FIRST HORIZON NATIONAL CORP TN 7.01 06/25/12 FIRST PLACE FINANCIAL CORP /DE/ DE 5.02,9.01 06/25/12 FLOTEK INDUSTRIES INC/CN/ DE 7.01,9.01 06/25/12 FOREST OIL CORP NY 5.02,9.01 06/21/12 FRANKLIN COVEY CO UT 2.02,8.01,9.01 06/25/12 FXCM Inc. 2.01,9.01 06/21/12 General Maritime Corp / MI 3.02 06/19/12 GENERAL RED INTERNATIONAL, INC. TX 1.01,2.01,9.01 06/30/11 GeoMet, Inc. DE 1.01,7.01,9.01 06/21/12 GEORESOURCES INC CO 8.01,9.01 06/25/12 GeoVax Labs, Inc. DE 5.07 06/21/12 GILLA INC. NV 1.01,9.01 06/25/12 GILLA INC. NV 1.01 06/22/12 GLIMCHER REALTY TRUST MD 1.01,2.03 06/21/12 GLOBAL PARTNERS LP 5.02,5.07,9.01 06/22/12 GOLDEN GRAIN ENERGY IA 8.01,9.01 06/25/12 GOLDMAN SACHS GROUP INC DE 9.01 06/25/12 GULFSLOPE ENERGY, INC. DE 1.01,5.02,9.01 06/20/12 HALCON RESOURCES CORP DE 7.01,8.01,9.01 06/25/12 HALCON RESOURCES CORP DE 8.01,9.01 06/25/12 HAMPTON ROADS BANKSHARES INC VA 5.02,5.03,5.07,9.01 06/25/12 HAYNES INTERNATIONAL INC DE 8.01,9.01 06/25/12 HELMERICH & PAYNE INC DE 7.01,9.01 06/25/12 HERITAGE COMMERCE CORP CA 5.02,9.01 06/25/12 Hicks Acquisition CO II, Inc. 8.01,9.01 06/22/12 HollyFrontier Corp DE 5.02,7.01,9.01 06/25/12 HOPFED BANCORP INC DE 1.01,5.02,9.01 06/23/10 Huron Consulting Group Inc. DE 1.01,9.01 06/25/12 IAC/INTERACTIVECORP DE 5.07 06/20/12 ID SYSTEMS INC DE 5.07 06/21/12 India Globalization Capital, Inc. MD 2.01,9.01 06/21/12 INNSUITES HOSPITALITY TRUST OH 1.01,2.03,9.01 06/22/12 InspireMD, Inc. DE 8.01,9.01 06/25/12 INTERNAP NETWORK SERVICES CORP DE 5.02 06/21/12 Iridium Communications Inc. DE 1.01 06/19/12 KENSEY NASH CORP DE 3.01,3.02,3.03,5.01, 06/19/12 5.02,5.03,8.01,9.01 Kohlberg Capital CORP DE 5.07 06/22/12 Longhai Steel Inc. NV 7.01,9.01 06/25/12 Macquarie Equipment Leasing Fund, LLC DE 5.02 06/19/12 MAGNEGAS CORP DE 5.02,5.03,5.05,8.01, 06/19/12 9.01 Magyar Bancorp, Inc. DE 5.02,9.01 06/21/12 Manning & Napier, Inc. 5.07 06/20/12 Mantra Venture Group Ltd. 1.01,9.01 06/19/12 MAP Pharmaceuticals, Inc. DE 8.01,9.01 06/25/12 MATTMAR MINERALS INC 4.01,9.01 06/25/12 MCCLATCHY CO DE 1.01,9.01 06/22/12 MCMORAN EXPLORATION CO /DE/ DE 8.01 06/22/12 MERRILL LYNCH DEPOSITOR INC PREFERRED NY 8.01,9.01 06/15/12 MERRILL LYNCH DEPOSITOR INC PREFERRED DE 8.01,9.01 06/15/12 MERRILL LYNCH DEPOSITOR PREFERREDPLUS DE 8.01,9.01 06/15/12 MITCHAM INDUSTRIES INC TX 7.01 06/25/12 Mobile Integrated Systems, Inc. NV 5.02,8.01 04/30/12 AMEND NATIONAL WESTERN LIFE INSURANCE CO CO 5.07 06/22/12 Neologic Animation Inc NV 5.02 06/25/12 NETWORK ENGINES INC DE 2.03,9.01 06/22/12 NEUSTAR INC 5.03,5.07,9.01 06/20/12 New York & Company, Inc. 5.07 06/20/12 NEWPARK RESOURCES INC DE 7.01,9.01 06/25/12 NEWS CORP 8.01,9.01 06/25/12 NGL Energy Partners LP DE 1.01,2.01,2.03,3.02, 06/19/12 5.02,7.01,9.01 NORTEL NETWORKS CORP 1.01,8.01,9.01 06/19/12 NOVATEL WIRELESS INC DE 5.02 06/25/12 NTS, INC. NV 2.03,9.01 06/22/12 OLD REPUBLIC INTERNATIONAL CORP DE 8.01,9.01 06/25/12 Onteco Corp NV 5.03,9.01 06/18/12 PACIFIC PREMIER BANCORP INC DE 8.01,9.01 06/25/12 PARK ELECTROCHEMICAL CORP NY 2.02,9.01 06/25/12 PCS EDVENTURES COM INC ID 7.01,9.01 06/25/12 People's United Financial, Inc. DE 8.01,9.01 06/22/12 PERNIX THERAPEUTICS HOLDINGS, INC. MD 5.07 06/21/12 PHOENIX COMPANIES INC/DE DE 5.02,9.01 06/25/12 PIONEER DRILLING CO TX 7.01,9.01 06/25/12 PIONEER DRILLING CO TX 3.01,9.01 06/25/12 PIONEER NATURAL RESOURCES CO DE 1.01,9.01 06/21/12 PIXELWORKS, INC OR 8.01 06/21/12 PPLUS Trust Series JPM-1 DE 8.01,9.01 06/15/12 PRIMUS TELECOMMUNICATIONS GROUP INC DE 9.01 06/25/12 AMEND PRIVATEBANCORP, INC DE 7.01,9.01 06/25/12 PROGRESS ENERGY INC NC 8.01,9.01 06/25/12 PROSPER MARKETPLACE INC DE 5.02 06/19/12 Protalix BioTherapeutics, Inc. FL 7.01,9.01 06/25/12 PROVIDENCE SERVICE CORP DE 3.01 06/19/12 PSB Holdings, Inc. 1.01,9.01 06/20/12 PVH CORP. /DE/ DE 5.02,5.07,9.01 12/31/11 QUEST SOFTWARE INC CA 8.01,9.01 06/25/12 QUICKSILVER RESOURCES INC DE 5.02 06/19/12 RAMBUS INC DE 5.02,9.01 06/20/12 Raptor Pharmaceutical Corp DE 8.01,9.01 06/25/12 RAYMOND JAMES FINANCIAL INC FL 7.01 06/25/12 REPUBLIC SERVICES, INC. DE 5.02,9.01 06/25/12 RESPONSE BIOMEDICAL CORP A1 5.02,5.07,9.01 06/19/12 RITE AID CORP DE 5.02,5.07,9.01 06/21/12 ROWAN COMPANIES PLC X0 7.01,9.01 06/25/12 RPX Corp DE 5.07 06/19/12 SATCON TECHNOLOGY CORP DE 5.03,5.07,9.01 06/20/12 SaveDaily Inc NV 5.02,9.01 06/12/12 SeaCube Container Leasing Ltd. 1.01,2.03,7.01,9.01 06/21/12 SEMTECH CORP DE 5.07 06/21/12 Shengtai Pharmaceutical, Inc. 8.01,9.01 06/23/12 Shire plc 8.01,9.01 06/23/12 SONIC AUTOMOTIVE INC DE 2.02,9.01 06/25/12 SONIC AUTOMOTIVE INC DE 7.01 06/25/12 SONIC AUTOMOTIVE INC DE 8.01,9.01 06/25/12 SONIC AUTOMOTIVE INC DE 8.01,9.01 06/25/12 SPX CORP DE 5.02 01/06/12 AMEND STANDARD REGISTER CO OH 8.01,9.01 06/25/12 STONE ENERGY CORP DE 7.01,9.01 06/22/12 Strategic Storage Trust, Inc. MD 1.01,9.01 06/19/12 SunOpta Inc. 8.01,9.01 06/25/12 Sunstone Hotel Investors, Inc. MD 8.01,9.01 06/19/12 SURREY BANCORP NC 5.02 06/19/12 SXC Health Solutions Corp. A6 8.01 06/25/12 SYNAGEVA BIOPHARMA CORP DE 8.01,9.01 06/21/12 SYNNEX CORP DE 2.02,9.01 06/25/12 SYNTHESIS ENERGY SYSTEMS INC DE 7.01,9.01 06/25/12 TAIWAN FUND INC DE 7.01,9.01 05/31/12 TCF FINANCIAL CORP DE 8.01,9.01 06/25/12 TCF FINANCIAL CORP DE 8.01,9.01 06/25/12 TechTarget Inc 5.07 06/22/12 TIME WARNER CABLE INC. DE 1.01,9.01 06/20/12 TOYOTA MOTOR CREDIT CORP CA 7.01,9.01 06/25/12 Twin Cities Power Holdings, LLC MN 2.02,9.01 06/25/12 UNIVERSAL DISPLAY CORP \PA\ PA 5.07 06/25/12 UNIVERSAL TRAVEL GROUP NV 5.02,9.01 06/23/12 US GEOTHERMAL INC DE 8.01 06/21/12 USA TECHNOLOGIES INC PA 7.01,9.01 06/25/12 Vantage Drilling CO E9 1.01,2.03,8.01,9.01 06/21/12 VENTRUS BIOSCIENCES INC DE 8.01,9.01 06/25/12 VERISIGN INC/CA DE 8.01,9.01 06/23/12 WD 40 CO DE 5.03,9.01 06/19/12 Whitestone REIT TX 3.01,9.01 06/25/12 Ziyang Ceramics Corp FL 1.01,7.01,9.01 06/25/12