22576 Federal Register / Vol. 77, No. 73 / Monday, April 16, 2012 / Notices 

material fact that cannot be resolved on 

the basis of sworn statements, affidavits, 

depositions, or other documents or that 

the nature of the matter in issue is such 

that an oral hearing and crossexamination are necessary for the 

development of an adequate record. 

Pursuant to the further terms of 46 CFR 

502.61, the initial decision of the 

presiding officer in this proceeding shall 

be issued by April 10, 2013 and the final 

decision of the Commission shall be 

issued by August 8, 2013. 

Karen V. Gregory, 

Secretary. 

[FR Doc. 2012–8994 Filed 4–13–12; 8:45 am] 

BILLING CODE 6730–01–P 

FEDERAL MARITIME COMMISSION 

[Docket No. 12–04] 

Possible Revocation of Ocean 

Transportation Intermediary License 

No. 021899—Trans World Logistics 

Corporation; Order To Show Cause 

Trans World Logistics Corporation 

(Trans World Logistics) is an Indiana 

corporation, incorporated in October 

2006. Records maintained by the 

Commission’s Bureau of Certification 

and Licensing (BCL) indicate that Trans 

World Logistics maintains its principal 

offices at 702 Penny Lane, Plainfield, 

Indiana. BCL records identify the 

principals of the firm as Malene 

Sorensen, Vice President and Satinder 

Kaur, President, Treasurer and CEO. 

Trans World Logistics has been licensed 

to operate as an ocean transportation 

intermediary (OTI) pursuant to FMC 

license No. 021899 since December 

2008. 

Trans World Logistics was licensed 

on the basis of the qualifications of Ms. 

Sorensen, an officer of the company and 

its approved Qualifying Individual (QI). 

Based on information obtained in the 

course of a routine OTI compliance 

audit conducted by the Commission’s 

Bureau of Enforcement (BOE), it appears 

that the QI resigned her position as an 

officer on November 3, 2010. According 

to BCL’s records, the licensee has not 

notified the Commission of the QI’s 

resignation or sought approval of a 

replacement QI. The Commission’s OTI 

regulations require that when, as here, 

a corporation has been licensed on the 

basis of the qualifications of an officer 

of the company and that individual no 

longer serves in a full-time and active 

capacity, the licensee must report such 

change to the Commission within 30 

days and within that time period seek 

Commission approval of any other 

active officer who may qualify the 

licensee. 46 CFR 515.18(c). It appears 

that Trans World Logistics has violated 

and continues to be in violation of this 

requirement. 

In addition, as part of its OTI 

compliance audit of Trans World 

Logistics, BOE sent repeated requests to 

the company between June and 

November, 2011, seeking current 

information about its OTI business. 

Such requests were sent to the addresses 

contained in BCL’s records as well as 

additional addresses for the firm’s 

principals located through research 

conducted by staff. Despite BOE’s efforts 

to communicate with the licensee in 

order to obtain information about its 

OTI business, Trans World Logistics has 

repeatedly failed to reply to such 

requests. The Commission regulations 

require a licensee to promptly respond 

to lawful inquiries from any authorized 

representative of the Commission. 46 

CFR 515.31(g). It appears that Trans 

World Logistics also continues to be in 

violation of this requirement. 

Section 19(c) of the Shipping Act, 46 

U.S.C. 40903 (a), provides that the 

Commission: 

* * * after notice and opportunity for 

hearing, shall suspend or revoke an ocean 

transportation intermediary’s license if the 

Commission finds that the ocean 

transportation intermediary—(1) is not 

qualified to provide intermediary services; or 

(2) that it willfully failed to comply with a 

provision of this part or with an order or 

regulation of the Commission. 

As pertinent, the Commission’s 

regulations at 46 CFR 515.16(a) provide 

that an OTI license be revoked or 

suspended for any of the following 

reasons: 

(1) Violation of any provision of the 

Act, or any other statute or Commission 

order or regulation related to carrying 

on the business of an ocean 

transportation intermediary; 

(2) Failure to respond to any lawful 

order or inquiry by the Commission; 

(3) Making a materially false or 

misleading statement to the Commission 

in connection with an application for a 

license or an amendment to an existing 

license; 

(4) Where the Commission determines 

that the licensee is not qualified to 

render intermediary services; 

(5) Failure to honor the licensee’s 

financial obligations to the Commission. 

It appears that Trans World Logistics 

has violated Commissions regulations 

by failing to notify the Commission of 

the resignation of its QI, failing to seek 

approval of a replacement, and 

repeatedly failing to respond to lawful 

inquiries by the Commission with 

respect to its OTI business. Accordingly, 

it appears that revocation of its license 

is warranted under the Shipping Act. 

Now therefore, it is ordered That 

pursuant to Sections 11, 14 and 19 of 

the Shipping Act of 1984, 46 U.S.C. 

41302, 41304, 40903(a)(2), Trans World 

Logistics Corporation is directed to 

show cause, within 30 days of 

publication of this Order in the Federal 

Register, why the Commission should 

not revoke its license for failure to 

report the resignation of its QI and seek 

approval of a replacement, as required 

by 46 CFR 515.18; and for failure to 

reply to lawful inquiries by the 

Commission with respect to its business 

as required by 46 CFR 515.31(g). 

It is further ordered That this 

proceeding be limited to the submission 

of affidavits of fact and memoranda of 

law; 

It is further ordered That any person 

having an interest and desiring to 

intervene in this proceeding shall file a 

petition for leave to intervene in 

accordance with Rule 72 of the 

Commission’s Rules of Practice and 

Procedure, 46 CFR 502.72. Such petition 

shall be accompanied by the petitioner’s 

memorandum of law and affidavit of 

fact, if any, and shall be filed no later 

than the date fixed below; 

It is further ordered That Trans World 

Logistics Corporation be named as 

Respondent in this proceeding. 

Affidavits of fact and memoranda of law 

shall be filed by Respondent and any 

intervenors in support of Respondent no 

later than May 11, 2012; 

It is further ordered That the 

Commission’s Bureau of Enforcement be 

made a party to this proceeding; 

It is further ordered That reply 

affidavits and memoranda of law shall 

be filed by BOE and intervenors in 

support no later than May 29, 2012; 

It is further ordered That: 

(a) Should any party believe that an 

evidentiary hearing is required, that 

party must submit a request for such 

hearing together with a statement setting 

forth in detail the facts to be proved, the 

relevance of those facts to the issues in 

this proceeding, a description of the 

evidence which would be adduced, and 

why such evidence cannot be submitted 

by affidavit; 

(b) Any request for evidentiary 

hearing shall be filed no later than May 

29, 2012; 

It is further ordered That notice of this 

Order to Show Cause be published in 

the Federal Register, and that a copy 

thereof be served upon Respondent at 

its last known address; 

It is further ordered That all 

documents submitted by any party of 

record in this proceeding shall be filed 

in accordance with Rule 2 of the 


emcdonald on DSK29S0YB1PROD with NOTICES
Federal Register / Vol. 77, No. 73 / Monday, April 16, 2012 / Notices 22577 

1Copies of the Minutes of the Federal Open 

Market Committee at its meeting held on March 13, 

2012, which includes the domestic policy directive 

issued at the meeting, are available on the Board’s 

Web site, www.federalreserve.gov. The minutes are 

also published in the Federal Reserve Bulletin and 

in the Board’s Annual Report. 

Commission’s Rules of Practice and 

Procedure, 46 CFR 502.2, as well as 

being mailed directly to all parties of 

record; 

Finally, it is ordered That pursuant to 

the terms of Rule 61 of the 

Commission’s Rules of Practice and 

Procedure, 46 CFR 502.61, the final 

decision of the Commission in this 

proceeding shall be issued by August 9, 

2012. 

By the Commission. 

Karen V. Gregory, 

Secretary. 

[FR Doc. 2012–9099 Filed 4–13–12; 8:45 am] 

BILLING CODE 6730–01–P 

FEDERAL RESERVE SYSTEM 

Federal Open Market Committee; 

Domestic Policy Directive of March 13, 

2012 

In accordance with Section 271.7(d) 

of its rules regarding availability of 

information (12 CFR part 271), there is 

set forth below the domestic policy 

directive issued by the Federal Open 

Market Committee at its meeting held 

on March 13, 2012.1

The Federal Open Market Committee 

seeks monetary and financial conditions 

that will foster price stability and 

promote sustainable growth in output. 

To further its long-run objectives, the 

Committee seeks conditions in reserve 

markets consistent with federal funds 

trading in a range from 0 to 1⁄4 percent. 

The Committee directs the Desk to 

continue the maturity extension 

program it began in September to 

purchase, by the end of June 2012, 

Treasury securities with remaining 

maturities of approximately 6 years to 

30 years with a total face value of $400 

billion, and to sell Treasury securities 

with remaining maturities of 3 years or 

less with a total face value of $400 

billion. The Committee also directs the 

Desk to maintain its existing policies of 

rolling over maturing Treasury 

securities into new issues and of 

reinvesting principal payments on all 

agency debt and agency mortgagebacked securities in the System Open 

Market Account in agency mortgagebacked securities in order to maintain 

the total face value of domestic 

securities at approximately $2.6 trillion. 

The Committee directs the Desk to 

engage in dollar roll transactions as 

necessary to facilitate settlement of the 

Federal Reserve’s agency MBS 

transactions. The System Open Market 

Account Manager and the Secretary will 

keep the Committee informed of 

ongoing developments regarding the 

System’s balance sheet that could affect 

the attainment over time of the 

Committee’s objectives of maximum 

employment and price stability. 

By order of the Federal Open Market 

Committee, April 9, 2012. 

William B. English, 

Secretary, Federal Open Market Committee. 

[FR Doc. 2012–8918 Filed 4–13–12; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Formations of, Acquisitions by, and 

Mergers of Bank Holding Companies 

The companies listed in this notice 

have applied to the Board for approval, 

pursuant to the Bank Holding Company 

Act of 1956 (12 U.S.C. 1841 et seq.) 

(BHC Act), Regulation Y (12 CFR part 

225), and all other applicable statutes 

and regulations to become a bank 

holding company and/or to acquire the 

assets or the ownership of, control of, or 

the power to vote shares of a bank or 

bank holding company and all of the 

banks and nonbanking companies 

owned by the bank holding company, 

including the companies listed below. 

The applications listed below, as well 

as other related filings required by the 

Board, are available for immediate 

inspection at the Federal Reserve Bank 

indicated. The applications will also be 

available for inspection at the offices of 

the Board of Governors. Interested 

persons may express their views in 

writing on the standards enumerated in 

the BHC Act (12 U.S.C. 1842(c)). If the 

proposal also involves the acquisition of 

a nonbanking company, the review also 

includes whether the acquisition of the 

nonbanking company complies with the 

standards in section 4 of the BHC Act 

(12 U.S.C. 1843). Unless otherwise 

noted, nonbanking activities will be 

conducted throughout the United States. 

Unless otherwise noted, comments 

regarding each of these applications 

must be received at the Reserve Bank 

indicated or the offices of the Board of 

Governors not later than May 11, 2012. 

A. Federal Reserve Bank of Kansas 

City (Dennis Denney, Assistant Vice 

President) 1 Memorial Drive, Kansas 

City, Missouri 64198–0001: 

1. FNB Bancshares, Inc., 

Independence, Kansas; to become a 

bank holding company by acquiring 100 

percent of the voting shares of First 

National Bank, Independence, Kansas. 

B. Federal Reserve Bank of San 

Francisco (Kenneth Binning, Vice 

President, Applications and 

Enforcement) 101 Market Street, San 

Francisco, California 94105–1579: 

1. Carpenter Fund Manager GP, LLC, 

Carpenter Fund Management Company, 

LLC, Carpenter Community Bancfund, 

L.P., Carpenter Community BanFund— 

A, L.P., Carpenter Community 

BandFund—CA, L.P., CCFW, Inc., and 

Carpenter Bank Partners, Inc., all in 

Irvine, California; to acquire additional 

voting shares, for a total of 

approximately 78 percent of the voting 

shares, of Manhattan Bancorp, and 

thereby indirectly acquire additional 

voting shares of Bank of Manhattan, 

National Association, both in El 

Segundo, California. 

Board of Governors of the Federal Reserve 

System, April 11, 2012. 

Robert deV. Frierson, 

Deputy Secretary of the Board. 

[FR Doc. 2012–9032 Filed 4–13–12; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Formations of, Acquisitions by, and 

Mergers of Bank Holding Companies; 

Correction 

This notice corrects a notice (FR Doc. 

2012–08198) published on page 20635 

of the issue for Thursday, April 5, 2012. 

Under the Federal Reserve Bank of 

Kansas City heading, the entry for 

Arthur L. Loomis, II, Patricia A. Loomis, 

Genevieve E. Loomis, and Julia P. 

Loomis, all of Niskayuna, New York; 

Frederick S. Loomis, Anne M. Loomis, 

and J. Porter Loomis, all of Pratt, 

Kansas; Howard K. Loomis, Jr., Karen P. 

Loomis, Katherine P. Loomis, Margaret 

P. Loomis, and Victoria K. Loomis, all of 

Los Gatos, California, as individuals 

and/or trustees of the 2011 Arthur L. 

Loomis, II Gift Trust, Julia P. Loomis 

Revocable Trust, Arthur L. Loomis, II 

Revocable Trust, Genevieve E. Loomis 

Revocable Trust, all of Niskayuna, New 

York; Howard K. Loomis Revocable 

Trust, 2010 Howard K. Loomis 

Irrevocable Family Trust, Porter Legacy 

Trust, Florence Porter Loomis Trust, 

2010 Florence Porter Loomis Irrevocable 

Family Trust, 2011 Frederick S. Loomis 

Gift Trust, 2011 J. Porter Loomis Gift 

Trust, all of Pratt, Kansas; 2011 Howard 

K. Loomis Jr. Gift Trust, The Loomis 

1993 Revocable Trust, both of Los Gatos, 

California; and Flopper, L.P., How-Kan, 

L.P., and Driftwood, LLC, all of Pratt, 

Kansas; and all as members of the 

Loomis Family Group, is revised to read 

as follows: 


emcdonald on DSK29S0YB1PROD with NOTICES