Federal Register / Vol. 72, No. 140 / Monday, July 23, 2007 / Notices 40181 

• Information in II is required for PY 

ending after 8–17–2006 (or, evidence of 

a reduction in number of employers to 

less than two since the PYs described in 

II), in addition to PYs described in II 

• For PYs described in II, list contributing 

employers exempt under section 501 

• For employers listed above, evidence of 

exempt status—IRS approval letter; IRS 

Form 990 or Form 990–EZ (first page and 

signed and dated last page only); copy of 

LM–2 or LM–3 (signed and dated first 

page only) 

• For PYs described in II, aggregate 

contributions by employers listed above, 

and percentage of the total annual 

contributions to plan 

• If percentage above at least 85%, written 

statement by plan administrator 

• Plan document, trust instrument, plan 

amendment, Plan Description Form D–1, 

or Annual Report Form D–2 from period 

before 9–2–74, or if unavailable, 

documentation from later date providing 

substantial evidence of plan’s existence 

before 9–2–74 

[FR Doc. E7–14247 Filed 7–20–07; 8:45 am] 

BILLING CODE 7709–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Pub. L. 94–409, that the 

Securities and Exchange Commission 

will hold the following meetings during 

the week of July 23, 2007: 

Open Meetings will be held on 

Tuesday, July 24, 2007 at 10 a.m. and 

Wednesday, July 25, 2007, at 10 a.m., in 

the Auditorium, Room L–002 and 

Closed Meetings will be held on 

Tuesday, July 24, 2007 at 11 a.m. and 

Thursday, July 26, 2007 at 2 p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meetings. Certain 

staff members who have an interest in 

the matters may also be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), (8), (9)(B), and 

(10) and 17 CFR 200.402(a)(3), (5), (7), 

(8), 9(ii) and (10), permit consideration 

of the scheduled matters at the Closed 

Meetings. 

Chairman Cox, as duty officer, voted 

to consider the items listed for the 

closed meetings in closed sessions. 

The subject matter of the Open 

Meeting scheduled for Tuesday, July 24, 

2007 will be: 

The Commission will hear oral 

argument in an appeal by Gregory M. 

Dearlove, CPA, from the decision of an 

administrative law judge. The law judge 

found that the financial statements of 

Adelphia Communications Corporation, 

a public company, for the period ending 

December 31, 2000 violated generally 

accepted accounting principles in 

several respects. The law judge also 

found that Dearlove, a certified public 

accountant and former partner at 

Deloitte and Touche, LLP, engaged in 

improper professional conduct under 

Commission Rule of Practice 102(e) 

when he served as the engagement 

partner on Deloitte’s audit of Adelphia’s 

2000 financial statements. The law 

judge also found that Dearlove caused 

Adelphia’s violations of the reporting 

and recordkeeping provisions of the 

Securities Exchange Act of 1934, 

specifically, Exchange Act Section 13(a) 

and rules 13a–1 and 12b–20 thereunder, 

and Exchange Act Section 13(b)(2)(A). 

The law judge barred Dearlove from 

appearing or practicing before the 

Commission in any capacity. 

Among the issues likely to be argued 

are whether Dearlove’s conduct during 

the audit constituted improper 

professional conduct, whether Dearlove 

caused Adelphia’s violations of the 

Exchange Act and rules thereunder, and 

whether there is merit to Dearlove’s 

contention that he was deprived of due 

process because he did not have 

adequate time to prepare for the hearing 

before the law judge. The parties may 

also address whether and to what extent 

Dearlove should be sanctioned if he is 

found to have committed the alleged 

violations. 

The subject matter of the Closed 

Meeting scheduled for Tuesday, July 24, 

2007 will be: 

Post-argument discussion. 

The subject matter of the Open 

Meeting scheduled for Wednesday, July 

25, 2007 will be: 

1. The Commission will consider 

whether to approve the Public Company 

Accounting Oversight Board’s Auditing 

Standard No. 5, An Audit of Internal 

Control Over Financial Reporting that is 

Integrated with an Audit of Financial 

Statements, a Related Independence 

Rule 3525, and Conforming 

Amendments. 

2. The Commission will consider 

whether to adopt rule amendments to 

Exchange Act Rule 12b–2 and Rule 1–

02 of Regulation S–X to define the term 

‘‘significant deficiency.’’

3. The Commission will consider 

whether to publish a Concept Release to 

solicit public comment on allowing U.S 

issuers, including investment 

companies subject to the Investment 

Company Act of 1940, to prepare 

financial statements in accordance with 

International Financial Reporting 

Standards as published in English by 

the International Accounting Standards 

Board for purposes of complying with 

the Commission’s rules and regulations. 

4. The Commission will consider 

whether to propose amendments to the 

proxy rules under the Securities 

Exchange Act of 1934 for operating and 

investment companies regarding 

shareholder proposals, disclosure about 

shareholder proponents, shareholder 

communications, and related matters. 

The subject matter of the Closed 

Meeting scheduled for Thursday, July 

26, 2007 will be: 

Formal orders of investigations; 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings of an 

enforcement nature; 

Resolution of litigation claims; 

Amicus consideration; 

An adjudicatory matters; and 

Other matters related to enforcement 

proceedings. 

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) 

551–5400. 

Dated: July 18, 2007. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–14216 Filed 7–20–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

In the matter of Bentley Commerce 

Corp., File No. 500–1.; Order of 

Suspension of Trading 

July 19, 2007. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Bentley 

Commerce Corp. because it has not filed 

any periodic reports since it filed a 

Form 10–QSB for the period ended 

March 31, 2005. 

The Commission is of the opinion that 

the public interest and the protection of 

investors require a suspension of trading 

in the securities of the above-listed 

company. 

Therefore, it is ordered, pursuant to 

Section 12(k) of the Securities Exchange 

Act of 1934, that trading in Bentley 

Commerce Corp. is suspended for the 

period from 9:30 a.m. EDT on July 19, 


sroberts on PROD1PC70 with NOTICES
40182 Federal Register / Vol. 72, No. 140 / Monday, July 23, 2007 / Notices 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A)(iii). 

4 17 CFR 240.19b–4(f)(6). 

5The BOX proposal is substantially similar to a 

proposal by the Philadelphia Stock Exchange 

(‘‘Phlx’’) to list Quarterly Options Series on a pilot 

basis through July 24, 2007. See Securities 

Exchange Act Release No. 55301 (February 15, 

2007), 72 FR 8238 (February 23, 2007) (SR–Phlx–

2007–08) (notice of filing and immediate 

effectiveness). The Commission has approved a 

substantially similar Quarterly Options Series pilots 

on behalf of the International Securities Exchange. 

See Securities Exchange Act Release No. 54113 

(July 7, 2006), 71 FR 39694 (July 13, 2006) (SR–ISE–

2006–24) (order approving proposal). In addition, 

the Chicago Board Options Exchange, NYSE Arca, 

and the American Stock Exchange have filed 

substantially similar proposals. See Securities 

Exchange Act Releases No. 54123 (July 11, 2006), 

71 FR 40558 (July 17, 2006) (SR–CBOE–2006–65) 

(notice of filing and immediate effectiveness); 

54166 (July 18, 2006), 71 FR 42151 (July 25, 2006) 

(SR–NYSEArca–2006–45) (notice of filing and 

immediate effectiveness); and 54137 (July 12, 2006), 

71 FR 41283 (July 20, 2006) (SR–Amex–2006–67) 

(notice of filing and immediate effectiveness). The 

Phlx proposal also incorporates certain changes 

made by CBOE to its version of the Quarterly 

Options Series pilot (e.g., limiting Quarterly 

Options Series based on an underlying index to five 

strike prices above or below the value of the index). 

See Securities Exchange Act Release No. 54762 

(November 16, 2006), 71 FR 67663 (November 22, 

2006) (SR–CBOE–2006–93) (notice of filing and 

order granting accelerated approval). 

6Quarterly Options Series may be opened in 

options on indexes or options on ETFs that satisfy 

the applicable listing criteria under BOX rules. 

2007, through 11:59 p.m. EDT on 

August 1, 2007. 

By the Commission. 

Nancy M. Morris, 

Secretary. 

[FR Doc. 07–3602 7–19–07; 1:18 pm] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–56086; File No. SR–BSE–

2007–36] 

Self-Regulatory Organizations; Boston 

Stock Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change To Permit the 

Listing and Trading of Quarterly 

Options Series 

July 17, 2007. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on July 17, 

2007, the Boston Stock Exchange, Inc. 

(‘‘Exchange’’ or ‘‘BSE’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been 

substantially prepared by the Exchange. 

The Exchange has designated the 

proposed rule change as a noncontroversial rule change pursuant to 

Section 19(b)(3)(A)(iii) of the Act 3 and 

Rule 19b–4(f)(6) thereunder,4 which 

renders the proposed rule change 

effective upon filing with the 

Commission. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend the 

rules of the Boston Options Exchange 

(‘‘BOX’’), including Rule Chapter I 

Section 1 (‘‘Definitions’’); Chapter IV 

Section 6 (‘‘Series of Options Contracts 

Open for Trading’’); Chapter VII Section 

1 (‘‘Exercise of Options Contracts’’); and 

Chapter XIV, Section 2 (‘‘Definitions’’), 

Section 5 (‘‘Position Limits for BroadBased Index Options’’), Section 6 

(‘‘Position Limits for Industry Index 

Options’’), and Supplemental Material 

to Section 10 (‘‘Terms of Index Options 

Contracts’’) to establish a pilot program 

(‘‘BOX Pilot’’) which would 

accommodate the listing and trading of 

options series that may be opened for 

trading on any business day and that 

expire at the close of business on the 

last business day of a calendar quarter 

(‘‘Quarterly Options’’ or ‘‘Quarterly 

Options Series’’). The pilot program (the 

‘‘BOX Pilot’’) will commence the day 

the Exchange first initiates trading in a 

Quarterly Options Series and will 

continue through July 10, 2008.5 The 

text of the proposed rule change is 

available on the Exchange’s Web site 

(http://www.bostonoptions.com), at the 

Exchange’s principal office, and at the 

Commission’s Public Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of, and basis for, 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposed rule 

change is to amend the Exchange’s 

Rules, including BOX Rules Chapter I 

Section 1, Chapter IV Section 6, Chapter 

VII Section 1, and Chapter XIV 

Section(s) 2, 5, 6, and Supplemental 

Material to Section 10, to establish the 

Pilot Program, which would 

accommodate the listing of Quarterly 

Options Series that would expire at the 

close of business on the last business 

day of a calendar quarter. 

Quarterly Options Series could be 

opened on any approved options class 6

on a business day (‘‘Quarterly Options 

Opening Date’’) and would expire at the 

close of business on the last business 

day of a calendar quarter (‘‘Quarterly 

Options Expiration Date’’). The 

Exchange would list series that expire at 

the end of the next four consecutive 

calendar quarters, as well as the fourth 

quarter of the next calendar year. 

Quarterly Options Series listed on 

approved options classes would be 

P.M.-settled and, in all other respects, 

would settle in the same manner as do 

the monthly expiration series in the 

same options class. 

The proposed rule change would 

allow BOX to open up to five currently 

listed options classes that are either 

options on exchange traded funds 

(‘‘ETFs’’) or options on indexes. With 

respect to quarterly options on ETFs, the 

strike price for each series would be 

fixed at a price per share, with at least 

two strike prices above and two strike 

prices below the approximate value of 

the underlying security at about the 

time that a Quarterly Options Series is 

opened for trading on BOX. BOX may 

list strike prices for a Quarterly Options 

Series based on an underlying ETF that 

are within $5 from the closing price of 

the underlying security on the 

preceding trading day. 

With respect to Quarterly Options 

Series based on an underlying index, 

the proposed rule change would allow 

BOX to list not more than five strike 

prices above and not more than five 

strike prices below the value of the 

underlying index at the time the series 

is initially listed. 

The proposal would permit BOX to 

open for trading additional Quarterly 

Options Series of the same class when 

the Exchange deems it necessary to 

maintain an orderly market, to meet 

customer demand, or when the current 

market price of the underlying security 

or index moves substantially from the 

exercise prices of those Quarterly 

Options Series that already have been 

opened for trading on BOX. The 

exercise price of each Quarterly Options 

Series on an underlying index would be 


sroberts on PROD1PC70 with NOTICES