SEC NEWS DIGEST Issue 2003-235 December 11, 2003 COMMISSION ANNOUNCEMENTS COMMISSION MEETINGS CLOSED MEETING - TUESDAY, DECEMBER 16, 2003 - 2:00 P.M. The subject matter of the Closed Meeting scheduled for Tuesday, December 16, 2003, will be formal orders of investigation; institution and settlement of administrative proceedings of an enforcement nature; institution and settlement of injunctive actions; and an adjudicatory matter. OPEN MEETING - WEDNESDAY, DECEMBER 17, 2003 - 10:00 A.M. The subject matter of the Open Meeting scheduled for Wednesday, December 17, 2003, in Room 1C30, the William O. Douglas Room, will be: 1. The Commission will consider whether to approve a proposed rule change by the New York Stock Exchange to amend and restate its Constitution to reform the governance and management architecture of the Exchange. For further information, please contact Rebekah Liu, at (202) 942-0133. 2. The Commission will consider whether to propose amendments to Form N-1A under the Securities Act of 1933 and the Investment Company Act of 1940 that would require an open-end management investment company to provide enhanced prospectus disclosure regarding breakpoint discounts on front-end sales loads. For further information, please contact Christian L. Broadbent at (202) 942- 0721. 3. The Commission will consider whether to issue a concept release on mutual fund transaction costs. The release would seek public comment on whether mutual funds should be required to quantify and disclose to investors as a separate line item the amount of transaction costs they incur; include transaction costs in their expense ratios and fee tables; provide other quantitative measures or additional disclosure that would provide investors an indication of the level of the investment company's transaction costs; or some combination of the above. The release also would seek comment on whether mutual funds should be required to record transaction costs or the portion of those costs that represent soft dollar benefits (i.e., the non-execution portion) as an expense in their financial statements. For further information, please contact Paul Goldman at (202) 942-0510. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact The Office of the Secretary at (202) 942-7070. COMMISSION PROPOSES RULES ON DISCLOSURE REGARDING MARKET TIMING AND SELECTIVE DISCLOSURE OF PORTFOLIO HOLDINGS The Commission proposed amendments to Forms N-1A, N-3, N-4, and N-6 under the Securities Act of 1933 and the Investment Company Act of 1940. The proposals would (1) require open-end management investment companies and variable insurance products to disclose in their prospectuses information about the risks of, and policies and procedures with respect to, the frequent purchase and redemption of investment company shares; (2) clarify that open-end management investment companies and insurance company managed separate accounts that offer variable annuities are required to explain both the circumstances under which they will use fair value pricing and the effects of using fair value pricing; and (3) require open-end management investment companies and insurance company managed separate accounts that offer variable annuities to disclose their policies with respect to disclosure of portfolio holdings information. (Rels. 33-8343; IC-26287; File No. S7-26-03) ENFORCEMENT PROCEEDINGS SEC BARS FORMER GOLDMAN SACHS ECONOMIST JOHN YOUNGDAHL, JR. FROM THE SECURITIES INDUSTRY On Dec. 10, 2003, the Securities and Exchange Commission announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Sections 15(b)(6), 15B(c)(4), and 15C(c)(1)(C) of the Securities Exchange Act of 1934, and Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions against John M. Youngdahl, Jr. Simultaneously, the Commission accepted Youngdahl's Offer of Settlement in which he agreed to be barred from association with any broker-dealer, municipal securities dealer, government securities dealer, or investment adviser. The Order finds that from at least May 1983 through June 17, 2003, Youngdahl, an economist, was associated with Goldman Sachs & Co. (Goldman Sachs), a registered broker-dealer, municipal securities dealer, government securities dealer, and investment adviser, at its offices located in New York, New York. The Order finds that on September 4, 2003, the Commission filed a Complaint in the United States District Court for the Southern District of New York in an action captioned Securities and Exchange Commission v. Peter J. Davis, Jr., et al., Civil Action 03-CV-6672, charging Youngdahl with violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. (LR-18322: Press Rel. 2003-107). The Order also finds that on November 20, 2003, a Final Judgment was entered by consent against Youngdahl, permanently enjoining him from directly or indirectly violating Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. The Commission's complaint in SEC v. Davis alleged, among other things, the following: While a Vice President and Senior Economist at Goldman Sachs, Youngdahl agreed in a series of July 2001 e-mails that Peter J. Davis, Jr., a Washington, D.C.-based consultant whom Goldman Sachs hired, would attend the U.S. Treasury Department's quarterly refunding press conferences and that Davis would provide Youngdahl with embargoed information from these press conferences. On October 31, 2001, Davis attended the Treasury refunding press conference in which Treasury officials announced that the Treasury would suspend issuance of the 30- year bond. Treasury officials also instructed the attendees of the press conference that the information conveyed during the conference was subject to a press embargo. Davis, in violation of the refunding conference press embargo, called Youngdahl and told him that the Treasury was suspending issuance of the 30-year bond. Youngdahl knew that Davis was providing embargoed information on the morning of Oct. 31, 2001. After receiving Davis' call on the morning of Oct. 31, 2001, Youngdahl tipped traders on Goldman Sachs' U.S. Treasury Desk to the news about the Treasury's decision to cease issuance of the 30-year bond. While the news was still nonpublic, the traders purchased $84 million worth of 30-year bonds for Goldman Sachs' own accounts, generating profits of over $1.5 million. Based on these and other allegations, the Complaint alleged, Youngdahl engaged in illegal insider trading in 30-year bonds. (Rels. 34-48900; IA-2199; File No. 3-11349) COMMISSION SANCTIONS WILLIAM PIONTEK The Commission has barred William C. Piontek from association with a broker or dealer or with a member of a national securities exchange or of a registered securities association, provided, that Piontek may apply to become associated in a non-supervisory, non-proprietary capacity after two years. The Commission also ordered Piontek to cease and desist from committing or causing any violations or any future violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Exchange Act Rule 10b-5, and ordered Piontek to pay a civil money penalty in the amount of $50,000. The Commission found that Piontek willfully violated antifraud provisions of the securities laws by engaging in unauthorized trading and recommending unsuitable trades in two customers' accounts. (Rels. 33-8344; 34-48903; File No. 3-10310) COMMISSION SANCTIONS ZION CAPITAL MANAGEMENT LLC AND RICKY LANG The Commission has imposed sanctions on Zion Capital Management LLC, formerly a registered investment adviser, and Ricky A. Lang, Zion's president and sole owner. The Commission found that the Respondents had violated Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Exchange Act Rule 10b-5, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940, by favoring an account in which Lang had a financial interest over Zion's advisory client in the allocation of securities trades. The Commission further found that the Respondents violated Section 207 of the Advisers Act by making material misrepresentations and omissions regarding the existence of a conflict of interest in Zion's Form ADV filed with the Commission. The Commission also found that Zion violated and that Lang aided and abetted and was a cause of Zion's violations of Section 204 of the Advisers Act and Advisers Act Rules 204-2(a)(3) and 204-2(a)(7) by failing to maintain copies of memoranda of orders given by Zion for the purchase or sale of a security and of all written communications relating to the execution of securities trades. The Commission barred Lang from association with any investment adviser or investment company and ordered the Respondents to cease and desist from committing or causing any further violations of the provisions that they were found to have violated or to have aided and abetted; to pay, jointly and severally, disgorgement in the amount of $211,827; and to pay, jointly and severally, a civil penalty of $220,000. (Rels. 33- 8345; 34-48904; IC-26289; IA- 2200; File No. 3-10659) COMMISSION ISSUES ORDER INSTITUTING ADMINISTRATIVE PROCEEDINGS, PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS, ENTERED AGAINST MARCO G. FIORE, JR., BENJAMIN V. SALMONESE, JR., THOMAS DECEGLIE, AND DAVID LAVENDER On December 11, the Commission announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions against Marco G. Fiore (Fiore) of East Islip, New York, Benjamin V. Salmonese, Jr. (Salmonese) of Old Bridge, New Jersey, Thomas DeCeglie (DeCeglie) of Old Bridge, New Jersey, and David C. Lavender (Lavender) of Staten Island, New York. Fiore, Salmonese, DeCeglie, and Lavender consented, without admitting or denying the Commission's findings, to an order barring each from association with any broker or dealer. The actions were based upon the injunctions entered in SEC v. Marco G. Fiore, Jr., et al., 00 Civ. 9422 (JGK) (S.D.N.Y.) (SEC v. Fiore) and the criminal convictions entered in United States v. Marco G. Fiore, 00 Cr 1267 (U.S. v. Fiore) against Fiore, Salmonese, DeCeglie, and Lavender. The Commission filed a complaint in SEC v. Fiore on December 12, 2000, alleging that, from between approximately January 1996 and March 1996, Fiore, Salmonese, DeCeglie, Lavender, and Peter Restivo (Restivo) employed deceptive and fraudulent sales practices in connection with Nationwide Securities Corporation's (Nationwide) initial public offering of Thermo-Mizer Environmental Corp (Thermo-Mizer). Specifically, the Commission alleged that, at the direction and under the control of Fiore and Salmonese, the control persons at Nationwide's New York City branch office, DeCeglie, Lavender, and Restivo used a variety of fraudulent sales practices to sell Thermo-Mizer securities to customers of Nationwide and thereafter, in aftermarket trading, inflate artificially the market price of, and demand for, Thermo-Mizer securities so that the defendants could sell their own holdings of Thermo-Mizer at an inflated price. In the Complaint, the Commission charged all five defendants with violations of Sections 5 and 17(a) of the Securities Act of 1933 (Securities Act), and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 10b-5 and 10b-6, and also charged Fiore and Salmonese with liability as control persons pursuant to Section 20(a) of the Exchange Act. The Commission sought against each of the defendants permanent injunctive relief, disgorgement of ill-gotten gains plus prejudgment interest, an accounting, and civil penalties. The Respondents consented to the issuance of the Order, without admitting or denying the Commission's findings that: 1. On Nov. 20, 2003, the United States District Court for the Southern District of New York entered a Final Judgment by Consent against Fiore that, among other things, permanently enjoined him from future violations of Sections 5 and 17(a) of the Securities Act, Section 10(b) of the Exchange Act, Rule 10b-5 and Rules 101 and 102 of Regulation M thereunder, in SEC v. Fiore. On Dec. 28, 2001, Fiore pled guilty to one count of securities fraud and one count of conspiracy to commit securities fraud, wire fraud, and commercial bribery, in violation of Title 15 United States Code, Sections 77q(a) and 77(x) and Title 18 United States Code, Section 371 before the United States District Court for the Southern District of New York, in U.S. v. Fiore. On June 10, 2002, a judgment in the criminal case was entered against Fiore. He was sentenced to a prison term of 51 months followed by three years of supervised release and ordered to make restitution, jointly and severally with another defendant, Benjamin V. Salmonese, in the amount of $10,773,461. 2. On Nov. 20, 2003, the United States District Court for the Southern District of New York entered a Final Judgment by Consent against Salmonese that, among other things, permanently enjoined him from future violations of Sections 5 and 17(a) of the Securities Act, Section 10(b) of the Exchange Act, Rule 10b-5 and Rules 101 and 102 of Regulation M thereunder, in SEC v. Fiore. On Aug. 13, 2001, Salmonese pled guilty to one count of securities fraud and one count of conspiracy to commit securities fraud, wire fraud, and commercial bribery, in violation of Title 15 United States Code, Sections 77q(a) and 77(x) and Title 18 United States Code, Section 371 before the United States District Court for the Southern District of New York, in U.S. v. Fiore. On June 28, 2002, a judgment in the criminal case was entered against Salmonese. He was sentenced to a prison term of 49 months followed by three years of supervised release and ordered to make restitution, jointly and severally with another defendant, Marco G. Fiore, Jr., in the amount of $10,773,461. 3. On Nov. 20, 2003, the United States District Court for the Southern District of New York entered a Final Judgment by Consent against DeCeglie that, among other things, permanently enjoined him from future violations of Sections 5 and 17(a) of the Securities Act, Section 10(b) of the Exchange Act, Rule 10b-5 and Rules 101 and 102 of Regulation M thereunder, in SEC v. Fiore. On Aug. 8, 2001, DeCeglie pled guilty to one count of securities fraud and one count of conspiracy to commit securities fraud, wire fraud, and commercial bribery, in violation of Title 15 United States Code, Sections 77q(a) and 77(x) and Title 18 United States Code, Section 371 before the United States District Court for the Southern District of New York, in U.S. v. Fiore. On Jan. 14, 2002, a judgment in the criminal case was entered against DeCeglie. He was sentenced to a prison term of 18 months followed by three years of supervised release and ordered to make restitution, in the amount of $202,872. 4. On Nov. 20, 2003, the United States District Court for the Southern District of New York entered a Final Judgment by Consent against Lavender that, among other things, permanently enjoined him from future violations of Sections 5 and 17(a) of the Securities Act, Section 10(b) of the Exchange Act, Rule 10b-5 and Rules 101 and 102 of Regulation M thereunder, in SEC v. Fiore. On Aug. 8, 2001, Lavender pled guilty to one count of securities fraud and one count of conspiracy to commit securities fraud, wire fraud, and commercial bribery, in violation of Title 15 United States Code, Sections 77q(a) and 77(x) and Title 18 United States Code, Section 371 before the United States District Court for the Southern District of New York, in U.S. v. Fiore. On Jan. 14, 2002, a judgment in the criminal case was entered against Lavender. He was sentenced to a prison term of 30 months followed by three years of supervised release and ordered to make restitution, in the amount of $202,872. (Rel. 34-48905; File No. 3-11350) NOTICE OF PROPOSED PLAN FOR DISTRIBUTION OF DISGORGED FUNDS AND OPPORTUNITY FOR COMMENT The Commission has issued a Notice of Proposed Plan for the Distribution of Disgorged Funds and Opportunity for Comment in the matter of IMS/CPAs & Associates, Vernon T. Hall, Stanley E. Hargrave and Jerome B. Vernazza. On November 3, 2003, the Commission issued an Order Making Sanctions Effective, which among other things, ordered that the Respondents jointly and severally pay disgorgement in the amount of $70,023.14, plus $48,210.30 in prejudgment interest. The parties have submitted a plan of disgorgement providing for the distribution of disgorged funds to 28 advisory clients of IMS/CPAs. Comments on the plan may be filed on or before January 9, 2004. (Rel. 33-8342; File No. 3-9042) PERMANENT INJUNCTION ORDERED AGAINST CLEARONE COMMUNICATIONS, INC. On Dec. 4, 2003, the Honorable Dale A. Kimball, U.S. District Court, District of Utah ordered a permanent injunction against ClearOne Communications, Inc. (ClearOne). The Commission's complaint was filed on Jan. 15, 2003, and alleged that since the quarter and fiscal year ended June 30, 2001, ClearOne Communications, Inc.'s management engaged in a program of inflating the company's revenues and net income by engaging in improper revenue recognition. It was further alleged that this course of conduct, covering two annual reporting periods and four separate quarterly reporting periods, was effected primarily through a program of channel stuffing conceived and directed by Frances M. Flood, then ClearOne's Chairman, CEO and President. In addition, on Dec. 11, 2001, while this conduct was ongoing, ClearOne closed a $25.5 million private placement of common stock. The complaint alleged that through this conduct ClearOne violated Section 17(a) of the Securities Act of 1933, and Sections 10(b), 13(a) and 13(b) of the Securities Exchange Act of 1934 and Rules 10b-5, 12b-20, 13a-1, 13a-13, and 13b2-1 thereunder. ClearOne consented to the entry of final judgment without admitting or denying any of the allegations of the complaint. Litigation continues with respect Frances M. Flood and Susie Strohm. [SEC v. Clearone Communications, Inc, et al., Docket No. 2:03 CV-0055 DAK, U.S.D.C., D.Ut.] (LR-18497) PAUL NOE AND CLIF GOLDSTEIN SENTENCED TO 78 MONTHS AND 46 MONTHS RESPECTIVELY IN GREAT AMERICAN TRUST STOCK FRAUD On Dec. 2, 2003, the Honorable Joseph F. Anderson, Jr. of the United States District Court for the District of South Carolina Columbia Division sentenced Paul Noe and Clif Goldstein to prison terms of 78 months and 46 months, respectively, followed by three years supervised release. Noe and Goldstein were also jointly and severally ordered to pay $645,708.20 in restitution to 21 victims. Noe was convicted in a jury trial of five counts of wire fraud, one count of transportation of stolen securities, and one count of conspiracy to defraud. Goldstein pleaded guilty to one count of conspiracy to commit wire fraud. The criminal case was prosecuted by the U.S. Attorney's office for the District of South Carolina. On Feb. 14, 2002, the SEC charged Goldstein, Noe, Carolyn Kaplan, Nuell Paschal, Noel Alelov, Great American Trust Company and Great American Trust Corporation with fraudulently raising not less than $1.1 million in a prime bank scheme. According to the Commission's complaint filed in the federal district court for the District of South Carolina, the Commission alleges that the defendants targeted both cash-poor companies unable to obtain funding through conventional means, and individual investors who desired to earn high investment returns quickly. Goldstein and Noe and their Great American Trust companies served as the primary offerors of the investment programs that comprised the fraudulent scheme, while the other defendants served as "finders" or selling agents, locating and luring potential investors to Goldstein and Noe and receiving finders' fees. The programs, which were promoted via the Internet and an intricate network of so-called consultants or finders, featured the use of purported prime bank instruments, wholly fictional securities allegedly traded on an equally fictitious secondary market. See also LR-17362 and LR-18349. [U.S. v. Paul Howe Noe, et al., Criminal Action No. 3:02-0096, D.S.C., Dec. 2, 2003] (LR-18498) BOOKKEEPER CHARGED WITH CONSPIRACY TO OBSTRUCT SEC INVESTIGATION On Dec. 5, 2003, the U.S. Attorney for the Central District of California announced that Jean Janu was charged with conspiracy to obstruct justice during an SEC enforcement investigation of Reed E. Slatkin and with taking steps to conceal Slatkin's plot to hide his Ponzi scheme from the SEC. From approximately 1986 until May 2001, Slatkin operated a massive Ponzi scheme in which he solicited more than $593 million from approximately 800 investors. On May 11, 2001, the SEC obtained a temporary restraining order and asset freeze against Slatkin in federal district court in Los Angeles. The SEC alleged that Slatkin defrauded hundreds of clients through his unregistered investment advisory business located in Santa Barbara, Calif. Janu, 56, formerly of Santa Fe, N.M., has agreed to plead guilty when she is arraigned in January to obstructing the SEC's investigation and to misprision of a felony for concealing Slatkin's scheme in an attempt to deceive the SEC regarding the authenticity of Slatkin's account statements. In her plea agreement, Janu admitted that, at Slatkin's direction, she created and revised account statements and other documents that supported Slatkin's claim that he held over $500 million in securities in brokerage accounts at the fictitious entity "NAA Financial" of Zurich, Switzerland. Janu knew these documents were to be submitted to the SEC. Janu created these bogus statements on her computer and printed the NAA account statements on blank, European-sized stationary provided to her by Slatkin that contained NAA's name and purported Swiss address. Slatkin then instructed Janu to erase the account statements from her computer. During the SEC investigation, Janu falsely testified under oath that she did not have any knowledge of any direct or indirect power held by Slatkin over any accounts in any kind of foreign financial institutions. In addition, Janu falsely testified that she had never heard the name NAA Financial. On June 7, 2001, in the SEC's action, the U.S. District Court for the Central District of California entered a Judgment of Permanent Injunction against Reed E. Slatkin. Slatkin, without admitting or denying the allegations in the complaint, consented to the entry of the injunction from future violations of the federal securities laws. Slatkin has also been barred by the Commission from associating with any investment adviser. On Sept. 3, 2003, Judge Morrow sentenced Slatkin to 14 years in prison for his role in the massive Ponzi scheme. Slatkin pleaded guilty to 15 counts, including conspiracy to obstruct justice during an SEC enforcement investigation. Additional information can be found in LR-16998 (May 11, 2001), LR-17033 (June 11, 2001), LR-17444 (March 27, 2002), LR-17796 (Sept. 12, 2002), LR-17796 (Oct. 22, 2002), LR-18107 (April 25, 2003), LR-18323 (Sept.4, 2003) and IA-2006 (Jan. 2, 2002). [U.S. v. Jean Janu, CR 02-1222, C.D. Cal.] (LR-18499) SEC SUES NEW JERSEY COUPLE FOR TRADING ON INSIDE INFORMATION The Securities and Exchange Commission announced today that it filed a complaint against Lianne and Stanley Gulkin of West Caldwell, New Jersey for illegally trading on inside information concerning a then-impending acquisition of Hotjobs.com, Inc. by TMP Worldwide, Inc. The Commission alleged that the Gulkins learned of the merger negotiations and bought the stock before the public announcement in June 2001. After the announcement, the Gulkins sold their stock and gained a total of $16,357 in illicit profits. The Commission also announced that it has reached a settlement with the Gulkins. The Gulkins have consented, without admitting or denying the allegations of the Commission's complaint, to the entry of a final judgment that (1) permanently enjoins them from future violations of Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder, (2) orders them to disgorge $16,357 in profits and to pay prejudgment interest in the sum of $1,963.19, and (3) orders the Gulkins to pay civil penalties amounting to $16,357. The Commission has submitted the proposed final consent judgment to the United States District Court for the Southern District of New York. According to the complaint, on or about June 8, 2001, an individual with whom the Gulkins shared a relationship of trust and confidence learned material nonpublic information that Hotjobs.com was involved in confidential negotiations to be acquired by TMP Worldwide. During one or more conversations with that individual between June 8 and June 29, 2001, when TMP Worldwide's acquisition of Hotjobs.com was publicly announced, the Gulkins learned about the takeover plans. Lianne and Stanley Gulkin bought shares of Hotjobs.com on June 18, 2001, and Stanley Gulkin made two more purchases on June 26 and June 29, 2001, prior to the public announcement. In all, the Gulkins bought 5,000 shares of Hotjobs.com while in possession of material, nonpublic information that they misappropriated from the individual, anticipating a price increase in the stock upon the public announcement of the takeover. On June 29, 2001, TMP Worldwide announced its plans to acquire Hotjobs.com, causing the stock price to jump approximately 19 percent. The Gulkins sold their shares and realized a profit of $16,357 in their two accounts. By these actions, the Gulkins violated the antifraud provisions of the Exchange Act. [SEC v. Lianne and Stanley Gulkin, 03-CV-9813, JSR, S.D.N.Y.] (LR-18500) SEC SUES SECOND NCFE EXECUTIVE FOR ROLE IN $1 BILLION FRAUD The Securities and Exchange Commission today sued Brian J. Stucke, formerly Director of Compliance and Associate Vice President at National Century Financial Enterprises, Inc. (NCFE), alleging that he participated in a scheme to defraud investors in securities issued by subsidiaries of NCFE. NCFE, a private corporation located in Dublin, Ohio, and its subsidiaries collapsed suddenly in October 2002 when investors discovered that the companies had hidden massive cash and collateral shortfalls from investors and auditors. The collapse caused investor losses exceeding $1 billion. Stucke, a resident of London, Ohio, consented to a permanent injunction prohibiting him from violating the antifraud provisions of the federal securities laws; an order barring him from serving as an officer or director of a public company; and orders of disgorgement, prejudgment interest, and a civil penalty, with those amounts to be determined at a later hearing. The complaint, which was filed in the United States District Court for the Southern District of Ohio, alleges that two wholly owned subsidiaries of NCFE purchased medical accounts receivable from health- care providers and issued notes that securitized those receivables. From at least February 1999 to October 2002, the subsidiaries offered and sold at least $3.25 billion in total notes through private placements to institutional investors. The complaint further alleges that senior NCFE officials improperly "advanced" to health-care providers $1 billion or more of the capital raised from investors without receiving required medical accounts receivable in return. These advances were essentially unauthorized, unsecured loans to distressed or defunct health-care providers-many of which were partly or wholly owned by NCFE or its principals. The unsecured advances were inconsistent with representations made by senior NCFE officials in offering documents provided to investors. According to the complaint, Stucke aided other NCFE officials in concealing their fraud from trustees, investors, potential investors, and auditors by: * preparing the forms used to authorize improper advances made by other NCFE officials; * transferring funds between the subsidiaries' bank accounts to mask cash shortfalls of as much as $400 million; * improperly using $101 million in proceeds from a new offering to cover existing reserve-account shortfalls; and * creating and distributing false monthly investor reports to trustees, investors, potential investors, and auditors. Without admitting or denying the allegations in the complaint, Stucke consented to the entry of an order that: (1) permanently enjoins him from violating the antifraud provisions of the federal securities laws, specifically Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act of 1934 and Rule 10b-5 promulgated thereunder; (2) permanently bars him from serving as an officer or director of a public company; and (3) orders him to pay disgorgement, prejudgment interest, and a civil monetary penalty, with those amounts to be determined at a later hearing. The Commission filed its action at the same time that the U.S. Attorney's Office for the Southern District of Ohio unsealed a criminal information against Stucke for the conduct that is the subject of the Commission's complaint. The Commission thanks the United States Attorney's Office and the Federal Bureau of Investigation for their assistance in this investigation. The Commission is continuing its investigation in this matter as to other parties. [SEC v. Brian J. Stucke, Civil Action No. C2-03-01161, S.D. Ohio, Dec. 11, 2003] (LR-18501) INVESTMENT COMPANY ACT RELEASES BEXIL CORPORATION A notice has been issued giving interested persons until January 5, 2004 to request a hearing on an application filed by Bexil Corporation. Applicant requests an order under Section 8(f) of the Investment Company Act declaring that Bexil Corporation has ceased to be an investment company. (Rel. IC-26286 - December 10) SELF REGULATORY ORGANIZATIONS ACCELERATED APPROVAL OF PROPOSED RULE CHANGE The Commission granted accelerated approval to a proposed rule change (SR-Amex-2003-98) submitted by the American Stock Exchange under Rule 19b-4 of the Securities Exchange Act of 1934 relating to Trust Certificates Linked to a Basket of Investment Grade Fixed Income Securities. Publication of the proposal is expected in the Federal Register during the week of December 15. (Rel. 34-48898) PROPOSED RULE CHANGES Pursuant to Section 19(b)(2) of the Securities Act of 1934 and Rule 19b- 4 thereunder, the International Securities Exchange (SR-ISE-2003-34) filed a proposed rule change and Amendment No. 1 thereto, to make changes to its Rule 804 pertaining to market maker quotations requiring that market maker quotes be firm for the displayed size in all instances. Publication of the proposal, as amended, is expected in the Federal Register during the week of December 15. (Rel. 34-48892) The NASD through its subsidiary, The Nasdaq Stock Market, Inc., has filed a proposed rule change and Amendment No. 1 thereto (SR-NASD-2003- 162) to rename the Nasdaq Prime data feed as the Nasdaq TotalView Data Feed, expand it to include quotes and orders at all price levels associated with an individual issue traded on Nasdaq, and discontinue the Nasdaq Aggregated Depth at Price data feed. Publication of the notice is expected in the Federal Register during the week of December 15. (Rel. 34-48902) 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 obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . S-8 CIVITAS BANKGROUP INC, 4 CORPORATE CENTRE, 810 CRESCENT CENTRE DRIVE, STE. 320, FRANKLIN, TN, 37067, (615) 383-4758 - 0 ($1,899,000.00) Equity, (File 333-111037 - Dec. 10) (BR. 07) S-8 KORN FERRY INTERNATIONAL, 1800 CENTURY PARK EAST, STE 900, LOS ANGELES, CA, 90067, 3105521834 - 0 ($40,000,000.00) Other, (File 333-111038 - Dec. 10) (BR. 08) F-3 TELEFONOS DE MEXICO S A DE C V, PARQUE VIA 190-1016 COL., MEXICO CITY, O5, 06599, 011525552225760 - 0 ($2,000,000,000.00) Unallocated (Universal) Shelf, (File 333-111040 - Dec. 10) (BR. 37) N-2 EATON VANCE SENIOR FLOATING RATE TRUST, THE EATON VANCE BUILDING, 255 STATE STREET, BOSTON, MA, 02109, 617-482-8260 - 40 ($1,000,000.00) Equity, (File 333-111041 - Dec. 10) (BR. 16) S-8 DISTRIBUTED ENERGY SYSTEMS CORP, 10 TECHNOLOGY DR, WALLINGFORD, CT, 06492, 2036782000 - 0 ($521,986.00) Equity, (File 333-111043 - Dec. 10) (BR. 02) S-8 DISTRIBUTED ENERGY SYSTEMS CORP, 10 TECHNOLOGY DR, WALLINGFORD, CT, 06492, 2036782000 - 0 ($35,042,738.00) Equity, (File 333-111044 - Dec. 10) (BR. 02) N-2 GLOBAL INCOME FUND INC, 11 HANOVER SQU, NEW YORK, NY, 10005, 2127850903 - 1,386,430 ($6,710,321.20) Equity, (File 333-111045 - Dec. 10) (BR. 22) S-8 FINISAR CORP, 1308 MOFFETT PARK DR, SUNNYVALE, CA, 94089, 4085481000 - 750,000 ($2,002,500.00) Equity, (File 333-111046 - Dec. 10) (BR. 36) S-8 BOSTON SCIENTIFIC CORP, ONE BOSTON SCIENTIFIC PL, NATICK, MA, 01760-1537, 5086508000 - 60,000,000 ($2,090,400,000.00) Equity, (File 333-111047 - Dec. 10) (BR. 36) S-4 K2 INC, 2051 PALOMAR AIRPORT ROAD, CARLSBAD, CA, 92009, 7604941044 - 0 ($16,082,738.00) Equity, (File 333-111048 - Dec. 10) (BR. 05) S-8 MICROSIGNAL CORP/NV, 3927 EDMONTRIE NE BAY 8, CALGARY T2E 6T1, 8,000,000 ($720,000.00) Equity, (File 333-111050 - Dec. 10) (BR. 03) S-8 PARAMCO FINANCIAL GROUP INC, 4610 SO. ULSTER STREET, SUITE 150, DENVER, CO, 80237, 720-528-7303 - 10,000,000 ($6,000,000.00) Equity, (File 333-111051 - Dec. 10) (BR. 06) S-8 GLOBAL AXCESS CORP, 225 PONTE VEDRA PARK DRIVE, PONTE VEDRA BEACH, FL, 32082, 9042803950 - 5,000,000 ($1,750,000.00) Equity, (File 333-111052 - Dec. 10) (BR. 07) SB-2 LIFESTREAM TECHNOLOGIES INC, 510 CLEARWATER LOOP, STE 101, POST FALLS, ID, 83854, 2084579409 - 71,040,768 ($10,605,292.00) Equity, (File 333-111053 - Dec. 10) (BR. 36) S-8 TELCO TECHNOLOGY INC, BOX 68, HARRINGTON PARK, NJ, 07640, 2017682310 - 6,000,000 ($570,000.00) Equity, (File 333-111054 - Dec. 10) (BR. 09) S-8 WHITING PETROLEUM CORP, 420,000 ($7,056,000.00) Equity, (File 333-111055 - Dec. 10) (BR. 04) S-8 WHITING PETROLEUM CORP, 2,000,000 ($33,600,000.00) Equity, (File 333-111056 - Dec. 10) (BR. 04) S-4 GTECH HOLDINGS CORP, 55 TECNOLOGY WAY, WEST GREENWICH, RI, 02817, 4013921000 - 0 ($250,000,000.00) Non-Convertible Debt, (File 333-111057 - Dec. 10) (BR. 03) S-8 DECORIZE INC, 1938 EAST PHELPS, ., SPRINGFIELD, MO, 65802, 417-879-3326 - 3,000,000 ($3,660,000.00) Equity, (File 333-111058 - Dec. 10) (BR. 02) S-4 CINCINNATI BELL INC, 201 E FOURTH ST 102 732, CINCINNATI, OH, 45201, 5133979900 - 540,000,000 ($540,000,000.00) Non-Convertible Debt, (File 333-111059 - Dec. 10) (BR. 37) S-3 KNOT INC, 462 BROADWAY 6TH FLOOR, NEW YORK, NY, 10013, 2122198555 - 2,800,000 ($11,200,000.00) Equity, (File 333-111060 - Dec. 10) (BR. 05) S-8 GSI SECURITIZATION LTD, 502 CARNEGIE CENTER, SUITE 103, PRINCETON, NJ, 08540, 609-987-8080 - 3,680,000 ($1,876,800.00) Equity, (File 333-111061 - Dec. 10) (BR. 04) S-3 AMEDISYS INC, 11100 MEAD ROAD STE 300, BATON ROUGE, LA, 70816, 2252922031 - 0 ($29,868,000.00) Equity, (File 333-111062 - Dec. 10) (BR. 01) S-3 WYNN RESORTS LTD, 3145 LAS VEGAS BLVD S., LAS VEGAS, NV, 89109, 7027334444 - 0 ($250,000,000.00) Unallocated (Universal) Shelf, (File 333-111064 - Dec. 10) (BR. 05) S-8 JACO ELECTRONICS INC, 145 OSER AVE, HAUPPAUGE, NY, 11788, 6312735500 - 600,000 ($3,079,800.00) Equity, (File 333-111065 - Dec. 10) (BR. 36) S-8 BROOKTROUT INC, 250 FIRST AVE, SUITE 300, NEEDHAM, MA, 02494, 7814494100 - 0 ($2,722,000.00) Equity, (File 333-111066 - Dec. 10) (BR. 37) S-8 NEIGHBORCARE INC, 7 EAST LEE STREET, BALTIMORE, MD, 21202, 4107522600 - 3,000 ($64,350.00) Equity, (File 333-111068 - Dec. 10) (BR. 08) S-8 AMERIRESOURCE TECHNOLOGIES INC, 9138599292 - 50,000,000 ($280,000.00) Equity, (File 333-111069 - Dec. 10) (BR. 06) S-3 CLEAR CHANNEL COMMUNICATIONS INC, 200 E BASSE RD, SAN ANTONIO, TX, 78209, 2108222828 - 0 ($2,550,000,000.00) Other, (File 333-111070 - Dec. 10) (BR. 02) S-3 UNITED SECURITY BANCSHARES INC, P O BOX 249, 131 WEST FRONT STREET, THOMASVILLE, AL, 36784, 3346365424 - 0 ($1,008,373.00) Equity, (File 333-111071 - Dec. 10) (BR. 07) S-4 ST PAUL COMPANIES INC /MN/, 385 WASHINGTON ST, SAINT PAUL, MN, 55102, 6123107911 - 0 ($16,098,282,770.59) Equity, (File 333-111072 - Dec. 10) (BR. 01) S-3 HAWAIIAN ELECTRIC CO INC, 900 RICHARDS ST, HONOLULU, HI, 96813, 8085437771 - 0 ($100,000,000.00) Equity, (File 333-111073 - Dec. 10) (BR. 02) RECENT 8K FILINGS Form 8-K is used by companies to file current reports on the following events: Item 1. Changes in Control of Registrant. Item 2. Acquisition or Disposition of Assets. Item 3. Bankruptcy or Receivership. Item 4. Changes in Registrant's Certifying Accountant. Item 5. Other Materially Important Events. Item 6. Resignations of Registrant's Directors. Item 7. Financial Statements and Exhibits. Item 8. Change in Fiscal Year. Item 9. Regulation FD Disclosure. Item 10. Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics. Item 11. Temporary Suspension of Trading Under Registrant's Employee Benefit Plans. Item 12. Results of Operations and Financial Condition. The following companies have filed 8-K reports for the date indicated and/or amendments to 8-K reports previously filed, responding to the item(s) of the form specified. 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE 8K ITEM NO. NAME OF ISSUER CODE 1 2 3 4 5 6 7 8 9 10 11 12 13 DATE COMMENT AAR CORP DE X 12/10/03 ABFC ASSET-BACKED CERTIFICATES SERIES DE X X 12/10/03 ABIOMED INC DE X 12/10/03 ABM INDUSTRIES INC /DE/ DE X X X 12/09/03 ACCEPTANCE INSURANCE COMPANIES INC DE X 12/09/03 ADMINISTAFF INC \DE\ DE X X 12/10/03 ADVANTA BUSINESS RECEIVABLES CORP X X 12/04/03 ADVANTAGE MARKETING SYSTEMS INC/OK OK X X 12/08/03 AFFYMETRIX INC DE X X 12/08/03 AFG INVESTMENT TRUST C DE X 12/04/03 AFG INVESTMENT TRUST D DE X 12/04/03 AFLAC INC GA X 12/10/03 ALLIANCE CAPITAL MANAGEMENT HOLDING L DE X X 12/09/03 ALLIANCE CAPITAL MANAGEMENT L P DE X X 12/09/03 ALPHA VIRTUAL INC/CA/ DE X X X 11/25/03 AMDL INC DE X 12/02/03 AMEDISYS INC DE X X 11/25/03 AMEREN CORP MO X X 12/10/03 AMERICAN EXPRESS CO NY X 12/10/03 AMERICAN INTERNATIONAL VENTURES INC / DE X 07/10/02 AMERICAN SKIING CO /ME DE X 10/26/03 AMERICAN TECHNOLOGY CORP /DE/ DE X X 12/10/03 AMERIQUEST MORTGAGE SECURITIES INC DE X 11/20/03 ANALOGIC CORP MA X 12/09/03 AMEND ANTHRACITE CAPITAL INC MD X X 10/31/03 AMEND ARCHSTONE SMITH TRUST CO X X 12/10/03 ARGENT SECURITIES INC X X 11/07/03 ATCHISON CASTING CORP KS X X 12/05/03 AURORA FOODS INC /DE/ DE X X 12/08/03 AUTOZONE INC NV X X 12/09/03 AVAYA INC DE X X 11/25/03 BA MORTGAGE SECURITIES INC MORT PS TH DE X 10/25/00 BA MORTGAGE SECURITIES INC MORT PS TH DE X 11/25/00 BA MORTGAGE SECURITIES INC MORT PS TH DE X 12/25/00 BA MORTGAGE SECURITIES INC PASS THR C DE X 10/25/00 BA MORTGAGE SECURITIES INC PASS THR C DE X 11/25/00 BA MORTGAGE SECURITIES INC PASS THR C DE X 12/25/00 BAM ENTERTAINMENT INC X X 12/03/03 BAMS MORTGAGE PASS THROUGH CERTIFICAT NC X 10/25/00 BAMS MORTGAGE PASS THROUGH CERTIFICAT NC X 11/25/00 BAMS MORTGAGE PASS THROUGH CERTIFICAT NC X 12/25/00 BAMS MORTGAGE PASS THROUGH CERTIFICAT NC X 10/25/00 BAMS MORTGAGE PASS THROUGH CERTIFICAT NC X 11/25/00 BAMS MORTGAGE PASS THROUGH CERTIFICAT NC X 12/25/00 BAMS MORTGAGE PASS THROUGH CERTIFICAT NC X 10/25/00 BAMS MORTGAGE PASS THROUGH CERTIFICAT NC X 11/25/00 BAMS MORTGAGE PASS THROUGH CERTIFICAT NC X 12/25/00 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 04/25/03 BANC OF AMERICA MORT SEC INC MORT PAS DE X X 08/25/03 AMEND BANC OF AMERICA MORT SEC INC MORT PAS DE X X 08/25/03 AMEND BANC OF AMERICA MORTGAGE SECURITIES I DE X X 12/10/03 BANC ONE MORTGAGE SEC INC MORT PASS T DE X X 12/08/03 BANK OF AMERICA 1999-10 NC X 10/25/00 BANK OF AMERICA 1999-10 NC X 11/25/00 BANK OF AMERICA 1999-10 NC X 12/25/00 BANK OF AMERICA 1999-11 NC X 10/25/00 BANK OF AMERICA 1999-11 NC X 11/25/00 BANK OF AMERICA 1999-11 NC X 12/25/00 BANK OF AMERICA 1999-3 NC X 10/25/00 BANK OF AMERICA 1999-3 NC X 11/25/00 BANK OF AMERICA 1999-3 NC X 12/25/00 BANK OF AMERICA 1999-4 DE X 10/25/00 BANK OF AMERICA 1999-4 DE X 11/25/00 BANK OF AMERICA 1999-4 DE X 12/25/00 BANK OF AMERICA 1999-5 NC X 10/25/00 BANK OF AMERICA 1999-5 NC X 11/25/00 BANK OF AMERICA 1999-5 NC X 12/25/00 BANK OF AMERICA CORP /DE/ DE X X 11/01/02 BANK OF AMERICA MORT SEC INC MORT PAS NC X 10/25/00 BANK OF AMERICA MORT SEC INC MORT PAS NC X 11/25/00 BANK OF AMERICA MORT SEC INC MORT PAS NC X 12/25/00 BANK OF AMERICA MORT SEC INC MORT PAS NC X 10/25/00 BANK OF AMERICA MORT SEC INC MORT PAS NC X 11/25/00 BANK OF AMERICA MORT SEC INC MORT PAS NC X 12/25/00 BANK OF AMERICA MORT SEC INC MORT PAS DE X 10/25/00 BANK OF AMERICA MORT SEC INC MORT PAS DE X 11/25/00 BANK OF AMERICA MORT SEC INC MORT PAS DE X 12/25/00 BANK OF AMERICA MORT SEC INC MORT PAS DE X 10/25/00 BANK OF AMERICA MORT SEC INC MORT PAS DE X 11/25/00 BANK OF AMERICA MORT SEC INC MORT PAS DE X 12/25/00 BANK OF AMERICA MORT SEC MORT PASS TH DE X 10/25/00 BANK OF AMERICA MORT SEC MORT PASS TH DE X 11/25/00 BANK OF AMERICA MORT SEC MORT PASS TH DE X 12/25/00 BANK OF AMERICA MORTGAGE SECURITIES I DE X 10/25/00 BANK OF AMERICA MORTGAGE SECURITIES I DE X 11/25/00 BANK OF AMERICA MORTGAGE SECURITIES I DE X 12/25/00 BANKNORTH GROUP INC/ME ME X X 12/08/03 BEAR STEARNS ARM TRUST MORT PASS THR DE X 10/20/03 BEAR STEARNS ASSET BACKED CERTIFICATE DE X X 11/27/03 BEAR STEARNS DEPOSITOR INC SERIES 200 X 12/01/03 BEAR STEARNS DEPOSITOR INC TRUST CERT X 12/01/03 BEAR STEARNS DEPOSITOR INC TRUST CERT X 12/01/03 BEL FUSE INC /NJ NJ X 03/21/03 AMEND BIZCOM USA INC FL X X X 11/25/03 BUSINESS OBJECTS SA X X 12/09/03 BUTLER NATIONAL CORP DE X X 12/10/03 CABLE DESIGN TECHNOLOGIES CORP DE X X 12/10/03 CANEUM INC NV X 12/08/03 CAPITAL AUTOMOTIVE REIT MD X 11/24/03 CAPITAL ONE AUTO FINANCE TRUST 2003-A DE X X 12/10/03 CAPITAL ONE MASTER TRUST NY X X 12/09/03 CAPITAL ONE MULTI ASSET EXECUTION TRU DE X X 12/09/03 CAPITAL ONE PRIME AUTO RECEIVABLES TR DE X X 12/10/03 CAPITAL ONE PRIME AUTO RECEIVABLES TR DE X X 12/10/03 CARREKER CORP DE X X 12/10/03 CATERPILLAR INC DE X 12/10/03 CAVALCADE OF SPORTS MEDIA INC NV X X X 12/10/03 CENTERPOINT ENERGY INC X 12/10/03 CERUS CORP DE X 12/08/03 CHASE FUNDING INC NY X X 12/08/03 CHASE MANHATTAN BANK USA CHASE MANHAT DE X X 10/28/03 CHASE MANHATTAN BANK USA CHASE MANHAT DE X X 12/09/03 CHASE MORTGAGE FINANCE CORP DE X X 11/25/03 CITICORP MORTGAGE SECURITIES INC DE X 12/09/03 CKE RESTAURANTS INC DE X 12/10/03 CLEAR CHANNEL COMMUNICATIONS INC TX X X 12/10/03 CNH CAPITAL RECEIVABLES INC DE X X 11/25/03 CNL RETIREMENT PROPERTIES INC MD X X 11/25/03 CONSUMERS BANCORP INC /OH/ OH X X 12/10/03 CONTINENTAL AIRLINES INC /DE/ DE X 12/10/03 CONVERA CORP DE X 12/10/03 CORVU CORP MN X 12/10/03 COUSINS PROPERTIES INC GA X 12/10/03 CRAFTMADE INTERNATIONAL INC DE X X 12/10/03 CREDIT & ASSET REP VEHICLE CORP ALLST DE X 12/01/03 CREDIT & ASSET REP VEHICLE CORP KEYCO DE X 12/01/03 CREDIT SUISSE FIRST BOSTON MORTGAGE S DE X X 12/10/03 CREDIT SUISSE FIRST BOSTON MORTGAGE S DE X 12/10/03 CSFB MORTGAGE BACKED PASS THR CERTS S DE X X 11/25/03 CSFB MORTGAGE BACKED PASS THR CERTS S DE X X 09/25/03 AMEND CSFB MORTGAGE BACKED PASS THROUGH CER DE X X 11/25/03 CSFB MORTGAGE BACKED PASS THROUGH CER DE X X 09/25/03 AMEND CV THERAPEUTICS INC DE X X 12/09/03 CWABS INC ASSET BACKED CERTIFICATES S DE X X 11/25/03 CWABS INC ASSET BACKED CERTIFICATES S DE X 11/25/03 DATA SYSTEMS & SOFTWARE INC DE X 12/10/03 DAYTON SUPERIOR CORP OH X X 07/29/03 AMEND DIATECT INTERNATIONAL CORP CA X 12/09/03 DILLARD ASSET FUNDING CO DE X X 11/17/03 DIRECT INSITE CORP DE X X 12/05/03 DIRECT INSITE CORP DE X X 12/10/03 DIVERSIFIED CORPORATE RESOURCES INC TX X X 12/08/03 DIVINE INC DE X X 11/25/03 DOMINION RESOURCES INC /VA/ VA X X 12/03/03 DORAL FINANCIAL CORP PR X X 12/09/03 DREW INDUSTRIES INCORPORATED DE X X 12/08/03 DVI INC DE X 12/10/03 DYCOM INDUSTRIES INC FL X X 11/25/03 DYNTEK INC DE X X 12/05/03 EATERIES INC OK X 12/10/03 EMULEX CORP /DE/ DE X 12/08/03 ENERGEN CORP AL X X 12/10/03 ENERGY CONVERSION DEVICES INC DE X 10/30/03 AMEND ENTERPRISE PRODUCTS PARTNERS L P DE X X 12/10/03 EPIC FINANCIAL CORP NV X 12/09/03 ERIE INDEMNITY CO PA X X 12/10/03 EXPLORATION CO OF DELAWARE INC DE X 12/08/03 FIRST CANADIAN AMERICAN HOLDING CORP DE X X X 10/31/03 FIRST UNION COMM MORT TRUST COMM MOR NY X X 02/15/03 FIRST UNION COMM MORT TRUST COMM MOR NY X X 03/15/03 FIRST UNION COMM MORT TRUST COMM MOR NY X X 07/15/03 FIRST UNION COMMERCIAL MORTGAGE SECUR NC X 11/18/03 FIRST UNION REAL ESTATE EQUITY & MORT OH X X 12/09/03 FLAG FINANCIAL CORP GA X 12/03/03 FNB CORP/FL/ FL X 12/08/03 FREEPORT MCMORAN COPPER & GOLD INC DE X 12/10/03 FRIEDMANS INC DE X 12/08/03 FURNITURE BRANDS INTERNATIONAL INC DE X X 12/10/03 GE COMMERCIAL MORT CORP COM MORT PS T DE X X 11/19/03 AMEND GE COMMERCIAL MORT CORP COM MORT PS T DE X X 11/19/03 AMEND GENZYME CORP MA X X 12/09/03 GLOBESPANVIRATA INC DE X 11/26/03 GOUVERNEUR BANCORP INC DE X 12/09/03 GREENPOINT MORTGAGE SECURITIES INC/ DE X X 11/17/03 GREENWICH CAPITAL COMM MORT PASS THR X X 12/08/03 GREENWICH CAPITAL COMMERCIAL FUND COR X 12/01/03 GSI LUMONICS INC A3 X X 12/10/03 HASBRO INC RI X X 12/09/03 HAWAIIAN ELECTRIC INDUSTRIES INC HI X 12/10/03 HAYES LEMMERZ INTERNATIONAL INC DE X X X 12/10/03 HEARST ARGYLE TELEVISION INC DE X X X 12/10/03 HERITAGE PROPANE PARTNERS L P DE X X 12/09/03 HOME EQUITY MORTGAGE PASS-THROUGH CER DE X 11/25/03 HOST MARRIOTT CORP/ MD X X 12/10/03 HOST MARRIOTT L P DE X X 12/10/03 HURCO COMPANIES INC IN X 10/31/03 I FLOW CORP /DE/ DE X X 11/01/03 AMEND ICO INC TX X X 12/09/03 INERGY L P DE X X 12/10/03 INRAD INC NJ X X 11/26/03 INTEL CORP DE X 12/10/03 IPC ACQUISITION CORP X X 12/09/03 IRON MOUNTAIN INC/PA PA X X 12/09/03 ISTAR FINANCIAL INC MD X X 12/09/03 ITS NETWORKS INC OK X 11/28/03 ITXC CORP NJ X X 12/08/03 J2 GLOBAL COMMUNICATIONS INC DE X X X 12/10/03 K2 INC DE X X 12/10/03 KINGDOM VENTURES INC NV X X 09/09/03 AMEND KOSAN BIOSCIENCES INC CA X X 12/10/03 LAKES ENTERTAINMENT INC MN X X 12/10/03 LANVISION SYSTEMS INC DE X 12/10/03 LEHMAN ABS CORP BACKED TRUST CERTS SE DE X X 12/01/03 LEHMAN ABS CORP BACKED TRUST CERTS SE DE X X 12/01/03 LEHMAN ABS CORP BACKED TRUST CERTS SE DE X X 12/01/03 LEHMAN ABS CORP BACKED TRUST CERTS SE DE X X 12/01/03 LEHMAN ABS CORP BACKED TRUST CERTS SE DE X X 12/01/03 LEHMAN ABS CORP BELLSOUTH DEB BCKD SE DE X X 12/01/03 LEHMAN ABS CORP CORP BACKED TRUST CER DE X X 12/01/03 LEHMAN ABS CORP CORPORATE BACKED TRUS DE X X 12/01/03 LEHMAN ABS CORP NEWS AMERICA DEBENTUR DE X X 12/01/03 LEOPARD CAPITAL INC NV X 12/09/03 LEVI STRAUSS & CO DE X X 12/09/03 LIONS GATE INVESTMENT LTD NV X X X 12/09/03 LOCATEPLUS HOLDINGS CORP X 12/10/03 MAGNUM HUNTER RESOURCES INC NV X X 12/10/03 MASTR ASSET SECURITIZATION TRUST 2003 DE X X 11/25/03 MASTR ASSET SECURITIZATION TRUST 2003 DE X X 02/25/03 AMEND MEDCO HEALTH SOLUTIONS INC DE X 08/08/03 MEDIFAST INC DE X 12/10/03 MEDQUIST INC NJ X X 12/09/03 MERCANTILE BANKSHARES CORP MD X X 12/09/03 MEREDITH ENTERPRISES INC DE X 12/08/03 MERRILL LYNCH MORT INV INC MORT LN AS DE X X 11/25/03 MERRILL LYNCH MORT INV INC MRT PSS TH DE X X 11/25/03 MERRILL LYNCH MORT INV INC MRT PSS TH DE X X 03/25/03 AMEND MERRILL LYNCH MORT INVES INC MRT PS T DE X X 11/25/03 MERRILL LYNCH MORT INVES INC MRT PS T DE X X 04/25/03 AMEND MICRO THERAPEUTICS INC DE X X 12/04/03 MOONEY AEROSPACE GROUP LTD DE X X 11/14/03 MORGAN STANLEY ABS CAPITAL I INC DE X X 12/08/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 02/25/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 03/25/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 04/25/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 05/27/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 06/25/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 07/25/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 08/25/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 09/25/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 10/27/03 MORGAN STANLEY DEAN WITTER CAP I MRT DE X 11/25/03 MORTGAGE ASSET SEC TRANS INC MRT PS T DE X X 11/25/03 MORTGAGE ASSET SEC TRANS INC MRT PS T DE X X 04/25/03 AMEND MORTGAGE ASSET SECURITIZATION TRANSAC DE X 12/10/03 MULTI-CLASS MORTGAGE PASS-THROUGH CER DE X 12/10/03 MULTIMEDIA GAMES INC TX X X 12/09/03 NABI BIOPHARMACEUTICALS DE X 12/10/03 NATIONAL PENN BANCSHARES INC PA X X 11/26/03 NATIONWIDE FINANCIAL SERVICES INC/ DE X X 12/10/03 NATIONWIDE LIFE INSURANCE CO OH X 12/10/03 NEORX CORP WA X X 12/05/03 NET2PHONE INC DE X 12/10/03 NEW FRONTIER MEDIA INC CO X 12/09/03 NEW VISUAL CORP UT X X 12/10/03 NEW YORK COMMUNITY BANCORP INC DE X X 12/10/03 NEXSTAR BROADCASTING GROUP INC DE X X 12/10/03 NTL EUROPE INC DE X X 12/09/03 NTS PROPERTIES III GA X X 12/05/03 NTS PROPERTIES IV KY X X 12/05/03 NTS PROPERTIES V MD X X 12/05/03 NTS PROPERTIES VI MD X X 12/05/03 NTS PROPERTIES VII FL X X 12/05/03 ON THE GO HEALTHCARE INC DE X 12/10/03 PARAMCO FINANCIAL GROUP INC NV X 12/09/03 PAXSON COMMUNICATIONS CORP DE X X 12/09/03 PAXSON COMMUNICATIONS CORP DE X X 12/10/03 PC CONNECTION INC DE X X 12/10/03 PENN AMERICA GROUP INC PA X X 12/09/03 PENNROCK FINANCIAL SERVICES CORP PA X 12/09/03 PHOTRONICS INC CT X X 12/09/03 POWERHOUSE TECHNOLOGIES GROUP INC DE X X 11/19/03 AMEND PRAECIS PHARMACEUTICALS INC DE X 12/10/03 PRECISION CASTPARTS CORP OR X X 12/09/03 PRICESMART INC DE X X 12/09/03 PROCERA NETWORKS INC NV X X 12/09/03 PRUDENTIAL FINANCIAL INC NJ X 12/10/03 RAYOVAC CORP WI X X 09/30/03 AMEND RCN CORP /DE/ DE X X 12/09/03 RESIDENTIAL ACCREDIT LOANS INC DE X X 12/10/03 RESIDENTIAL ACCREDIT LOANS INC DE X X 12/10/03 RESIDENTIAL ASSET MORTGAGE PRODUCTS I DE X X 12/09/03 RESIDENTIAL ASSET MORTGAGE PRODUCTS I DE X 11/26/03 RETURN ON INVESTMENT CORP DE X X 12/10/03 RLI CORP IL X X 12/09/03 ROADWAY CORP DE X X 12/10/03 SALIX PHARMACEUTICALS LTD X X 12/10/03 SALIX PHARMACEUTICALS LTD X X 12/09/03 SBA COMMUNICATIONS CORP FL X X 12/08/03 SBE INC DE X X 10/31/03 SCIENTIFIC ENERGY INC NV X X X X X X 12/05/03 SEQUOIA MORTGAGE FUNDING CORP MD X X 11/20/03 SEQUOIA MORTGAGE FUNDING CORP MD X X 12/01/03 SEQUOIA MORTGAGE FUNDING CORP MD X X 11/19/03 SEQUOIA RESIDENTIAL FUNDING INC X X 11/25/03 SEQUOIA RESIDENTIAL FUNDING INC X X 11/20/03 SEQUOIA RESIDENTIAL FUNDING INC X X 11/20/03 SEQUOIA RESIDENTIAL FUNDING INC X X 11/20/03 SEQUOIA RESIDENTIAL FUNDING INC X X 11/20/03 SEQUOIA RESIDENTIAL FUNDING INC X X 11/20/03 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