Document ID: SEC-2012-1097-0001
Agency: sec
Document Type: Notice
Title: Suspension of Trading Orders: Qiao Xing Universal Resources, Inc., and Qiao Xing Mobile Communication Co., Ltd.
Posted Date: 2012-07-09T04:00Z

[Federal Register Volume 77, Number 131 (Monday, July 9, 2012)]
[Notices]
[Pages 40399-40400]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-16790]

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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]

Qiao Xing Universal Resources, Inc., and Qiao Xing Mobile 
Communication Co., Ltd.; Order of Suspension of Trading

July 5, 2012.
    It appears to the Securities and Exchange Commission 
(''Commission'') that there is a lack of current and accurate 
information concerning the securities of Qiao Xing Universal Resources, 
Inc. (``XING''), a British Virgin Islands corporation with headquarters 
and operations in the People's Republic of China. Those securities now 
trade in the over-the-counter market under the symbol XINGF since 
trading in them was suspended by the NASDAQ Stock Market Inc. 
(``NASDAQ'') on May 10, 2012.
    Questions have arisen regarding the accuracy and completeness of 
information contained in XING's public filings with the Commission 
concerning, among other things, the effectiveness of XING's internal 
control over financial reporting. It appears to the Commission that 
relevant information has not been disclosed about XING, including the 
following: (1) Its CFO resigned; (2) its independent auditor resigned; 
and (3) its US counsel resigned.
    It also appears to the Commission that there is a lack of current 
and accurate information concerning the securities of Qiao Xing Mobile 
Communication Co., Ltd. (``QXM''), a British Virgin Islands corporation 
with headquarters and operations in the People's Republic of China, 
which now trades in the over-the-counter market under the symbol QXMCF 
since it was suspended by the New York Stock Exchange (``NYSE'') on May 
18, 2012.
    It appears to the Commission that relevant information has not been 
disclosed about QXM, including the

[[Page 40400]]

following: (1) The Chairman of its Audit Committee resigned; and (2) 
its outside independent auditor resigned.
    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 companies.
    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 companies is suspended for the period from 9:30 a.m. EDT 
on July 5, 2012, through 11:59 p.m. EDT on July 18, 2012.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2012-16790 Filed 7-5-12; 11:15 am]
BILLING CODE 8011-01-P