Federal Register / Vol. 72, No. 17 / Friday, January 26, 2007 / Notices 3887 

15 17 CFR 200.30–3(a)(34). 

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

2Securities Exchange Act Release No. 54819 

(Nov. 27, 2006), 71 FR 70817. 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for inspection and copying in 

the Commission’s Public Reference 

Room. Copies of such filing also will be 

available for inspection and copying at 

the principal office of each of the SROs. 

All comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number S7–966 and should be 

submitted on or before February 16, 

2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.15

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–1220 Filed 1–25–07; 8:45 am] 

BILLING CODE 8011–01–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 January 29, 2007: 

Open Meetings will be held on 

Wednesday, January 31, 2007 at 10 a.m. 

and 2 p.m. in the Auditorium, Room 

LL–002, and Closed Meetings will be 

held on Wednesday, January 31, 2007 at 

11 a.m. and Thursday, February 1, 2007 

at 2 p.m. 

Commissioners, Counsels 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), 9(B) and (10) 

and 17 CFR 200.402(a) (3), (5), (7), 9(ii) 

and (10) permit consideration of the 

scheduled matters at the Closed 

Meetings. 

Commissioner Casey, as duty officer, 

voted to consider the items listed for the 

closed meetings in closed session. 

The subject matter of the Open 

Meeting scheduled for Wednesday, 

January 31, 2007 at 10 a.m. will be: 

The Commission will hear oral argument 

on an appeal by Phlo Corporation, a beverage 

manufacturer and an issuer of publicly 

traded securities that also acts as transfer 

agent for its own securities, its president and 

chief executive officer James B. Hovis (‘‘J. 

Hovis’’), and its executive vice president and 

secretary, Anne P. Hovis (‘‘A. Hovis’’), who 

also served as Phlo’s general counsel, 

(together, ‘‘Respondents’’) from the decision 

of an administrative law judge. The law judge 

found that Phlo willfully violated provisions 

requiring transfer agents to turnaround at 

least ninety percent of all routine items 

received in a month within three business 

days and willfully failed to make records 

available for examination by Commission 

staff. The law judge concluded that A. Hovis 

willfully aided and abetted and was a cause 

of Phlo’s failure to complete transfers in a 

timely manner and failure to make records 

available for examination. 

The law judge further found that Phlo 

failed to make timely filings of annual and 

quarterly reports with the Commission 

between March 2003 and November 2005. 

The law judge found that J. Hovis willfully 

aided and abetted and was a cause of Phlo’s 

violations of the periodic reporting 

requirements. 

The law judge assessed civil money 

penalties of $100,000 against Phlo, $25,000 

against J. Hovis, and $50,000 against A. 

Hovis, revoked Phlo’s registration as a 

transfer agent, barred A. Hovis from 

associating with any transfer agent, and 

imposed cease-and-desist orders as to all 

Respondents. 

Among the issues likely to be argued are 

whether Respondents violated the provisions 

charged, and, if so, whether and to what 

extent sanctions should be imposed. 

The subject matter of the Closed 

Meeting scheduled for January 31, 2007 

at 11 a.m. will be: 

Post-argument discussion. 

The subject matter of the Open 

Meeting scheduled for January 31, 2007 

at 2 p.m. will be: 

1. The Commission will consider whether 

to propose amendments to extend its 

interactive data voluntary reporting program 

to permit mutual funds to submit as exhibits 

to their registration statements supplemental 

tagged information contained in the risk/ 

return summary section of their 

prospectuses. The risk/return summary 

section contains key mutual fund 

information, including investment objectives 

and strategies, risks, and costs. 

2. The Commission will consider whether 

to propose rules to implement provisions of 

the Credit Rating Agency Reform Act of 2006. 

The subject matter of the Closed 

Meeting scheduled for Thursday, 

February 1, 2007 will be: 

Formal orders of investigation; 

Institution and settlement of injunctive 

actions; 

Institution and settlement of 

administrative proceedings of an 

enforcement nature; 

Resolution of litigation claims; 

An adjudicatory matter; and 

Other matters relating 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: January 24, 2007. 

Nancy M. Morris, 

Secretary. 

[FR Doc. 07–372 Filed 1–24–07; 3:57 pm] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55136; File No. SR–FICC–

2006–17] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Order 

Approving Proposed Rule Change 

Relating to Clearing Fund Deficiency 

Calls 

January 19, 2007. 

I. Introduction 

October 16, 2006, the Fixed Income 

Clearing Corporation (‘‘FICC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) a 

proposed rule change pursuant to 

Section 19(b)(1) of the Securities 

Exchange Act of 1934 (‘‘Act’’) 1 to adjust 

the deadline for satisfying a clearing 

fund deficiency call from 10:30 a.m. to 

9:30 a.m. in the Schedule of Timeframes 

in FICC’s Government Securities 

Division (‘‘GSD’’) rulebook. The 

proposed rule change was published for 

comment in the Federal Register on 

December 6, 2006.2 No comment letters 

were received on the proposal. This 

order approves the proposal. 


sroberts on PROD1PC70 with NOTICES