Federal Register / Vol. 74, No. 92 / Thursday, May 14, 2009 / Notices 22779 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4NYSE Arca Equities Rule 8.3 accommodates 

listing of currency, currency index and stock index 

warrants. 

5See Securities Exchange Act Release No. 43611 

(November 22, 2000), 65 FR 75326 (December 1, 

2000 (SR–CBOE–99–14) (order approving a 

proposed rule change relating to listing criteria for 

stock index warrants in CBOE Rule 31.5E); 

Securities Exchange Act Release No. 45036 

(November 6, 2001), 66 FR 57760 (November 16, 

2001) (SR–Amex-2001–89) (notice of filing and 

immediate effectiveness of proposed rule change 

relating to currency and index warrant listing 

standards in Section 106 of the American Stock 

Exchange LLC Company Guide). 

6See note 5, supra. 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(5). 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

In the Matter of: Fortel, Inc., Now 

Known as Envit Capital Group, Inc.; 

Order of Suspension of Trading 

May 12, 2009. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Fortel, Inc., 

now known as Envit Capital Group, Inc., 

because it has not filed any periodic 

reports since the period ended June 30, 

2002. 

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 the 

securities of the above-listed company is 

suspended for the period from 9:30 a.m. 

EDT on May 12, 2009, through 11:59 

p.m. EDT on May 26, 2009. 

By the Commission. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–11393 Filed 5–12–09; 4:15 pm] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59886; File No. SR– 

NYSEArca–2009–39] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Arca, Inc. Regarding Amendments to 

NYSE Arca Equities Rule 8.3 (‘‘Listing 

of Currency and Index Warrants’’) 

May 7, 2009. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on May 1, 

2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or 

the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the self-regulatory organization. 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, through its whollyowned subsidiary NYSE Arca Equities, 

Inc. (‘‘NYSE Arca Equities’’), proposes 

to amend NYSE Arca Equities Rule 8.3 

(‘‘Listing of Currency and Index 

Warrants’’) to include alternate listing 

standards for currency and index 

warrants. The text of the proposed rule 

change is available on the Exchange’s 

Web site at http://www.nyse.com, at the 

Exchange’s principal office and at the 

Public Reference Room of the 

Commission. 

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 

self-regulatory organization 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 those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

NYSE Arca Equities Rule 8.3 to include 

alternate minimum distribution and 

market value standards for currency and 

index warrants.4 Under the proposed 

alternative standards, the minimum 

number of public holders required will 

not be defined, but will be determined 

on a case by case basis. Other criteria 

will require a minimum of 2,000,000 

warrants together with an aggregate 

market value of $12,000,000 and initial 

price of $6 per warrant. 

NYSE Arca Equities Rule 8.3 provides 

listing standards for currency and index 

warrants which includes, among other 

things, minimum distribution and 

market value standards. Currently, 

NYSE Arca Equities Rule 8.3 requires a 

minimum public distribution of 

1,000,000 warrants together with a 

minimum of 400 public warrant 

holders, and an aggregate market value 

of $4,000,000. 

The Exchange proposes to add 

alternative standards to allow the 

Exchange to list warrant issues that it 

believes are appropriate for listing and 

increase its flexibility in reviewing such 

issues. The proposed alternative 

standards are similar to those previously 

approved by the Commission for the 

American Stock Exchange LLC (now 

known as NYSE Amex LLC) and for the 

Chicago Board Options Exchange 

(‘‘CBOE’’).5 Accordingly, under the 

proposed alternative listing standards, 

the minimum number of public holders 

required will not be defined, but will be 

determined on a case by case basis. 

Other criteria will require a minimum of 

2,000,000 warrants together with an 

aggregate market value of $12,000,000 

and minimum price of $6 per warrant. 

Because currency and index warrants 

are in many respects similar to currency 

and index options, which require no 

minimum number of holders upon 

issuance, the Exchange believes 

reviewing the number of public warrant 

holders on a case by case basis is 

appropriate. 

The Exchange believes the proposed 

alternative warrant listing standards 

will increase the Exchange’s ability to 

review proposed warrant issues on a 

case by case basis in determining 

whether it is appropriate to list the 

particular warrant being proposed. 

Lastly, the Exchange believes that the 

approval of the alternative warrant 

listing standard will help foster 

competition between the Exchange and 

other national securities exchanges that 

have implemented the alternative 

warrant listing standards proposed 

herein.6

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 7 of the Act 

in general and furthers the objectives of 

Section 6(b)(5) 8 in particular in that it 

is designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transaction in securities, 


pwalker on PROD1PC71 with NOTICES
22780 Federal Register / Vol. 74, No. 92 / Thursday, May 14, 2009 / Notices 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). 

11 17 CFR 240.19b–4(f)(6)(iii). In addition, Rule 

19b–4(f)(6)(iii) requires the self-regulatory 

organization to give the Commission notice of its 

intent to file the proposed rule change, along with 

a brief description and text of the proposed rule 

change, at least five business days prior to the date 

of filing of the proposed rule change, or such 

shorter time as designated by the Commission. The 

Exchange has satisfied this requirement. 

12See supra note 5. 

13For purposes only of waiving the operative 

delay for this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 

14 15 U.S.C. 78s(b)(3)(C). 

15 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

and, in general to protect investors and 

the public interest. The proposed rule 

change will allow the listing and trading 

of currency and index warrants on the 

Exchange under standards previously 

implemented by other national 

securities exchanges, which the 

Exchange believes will enhance 

competition among market participants, 

to the benefit of investors and the 

marketplace. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change: (1) Does not significantly affect 

the protection of investors or the public 

interest; (2) does not impose any 

significant burden on competition; and 

(3) by its terms, does not become 

operative for 30 days after the date of 

filing, or such shorter time as the 

Commission may designate if consistent 

with the protection of investors and the 

public interest, the proposed rule 

change has become effective pursuant to 

Section 19(b)(3)(A) of the Act 9 and Rule 

19b–4(f)(6) thereunder.10

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative for 30 days after the 

date of filing.11 However, Rule 19b– 

4(f)(6)(iii) permits the Commission to 

designate a shorter time if such action 

is consistent with the protection of 

investors and the public interest. The 

Exchange requested that the 

Commission waive the 30-day operative 

delay and designate the proposed rule 

change operative upon filing. 

The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest. The 

Commission notes that the proposed 

alternative listing standards are 

substantially identical to rules of other 

national securities exchanges.12

Therefore, the Commission designates 

the proposal operative upon filing.13

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

such rule change if it appears to the 

Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors, 

or otherwise in furtherance of the 

purposes of the Act.14

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–NYSEArca–2009–39 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–NYSEArca–2009–39. This 

file number should be included on the 

subject line if e-mail is used. To help the 

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 on official business days between 

the hours of 10 a.m. and 3 p.m. Copies 

of such filing also will be available for 

inspection and copying at the principal 

office of the Exchange. 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 SR– 

NYSEArca–2009–39 and should be 

submitted on or before June 4, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–11163 Filed 5–13–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59873; File No. SR–MSRB– 

2009–06] 

Self-Regulatory Organizations; 

Municipal Securities Rulemaking 

Board; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change to MSRB Rule G–8 Requiring 

Brokers, Dealers and Municipal 

Securities Dealers To Maintain Certain 

Records Relating to Auction Rate 

Securities and Variable Rate Demand 

Obligations 

May 6, 2009. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that, on April 28, 

2009, the Municipal Securities 

Rulemaking Board (‘‘MSRB’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the MSRB. 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 MSRB is filing with the 

Commission a proposed rule change 

consisting of an amendment to MSRB 

Rule G–8, Books and Records (the 


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