81 FR 1665 - In the Matter of DC Brands International Inc., Order of Suspension of Trading

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 8 (January 13, 2016)

Page Range		1665-1666
FR Document		2016-00591

Federal Register, Volume 81 Issue 8 (Wednesday, January 13, 2016)

[Federal Register Volume 81, Number 8 (Wednesday, January 13, 2016)]
[Notices]
[Pages 1665-1666]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-00591]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of DC Brands International Inc., Order of 
Suspension of Trading

January 11, 2016.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
DC Brands International Inc. (``DC Brands'') because DC Brands has not 
filed any periodic reports since it filed a Form 10-Q for the period 
ended June 30, 2014. Specifically, DC Brands is over a year delinquent 
in its periodic reporting and it has not submitted the following 
required filings:
     Form 10-Q for the quarter ended September 30, 2014 (due 
November 15, 2014)
     Form 10-K for the fiscal year ended December 31, 2014 (due 
March 31, 2015)
     Form 10-Q for the quarter ended March 31, 2015 (due May 
15, 2015)
     Form 10-Q for the quarter ended June 30, 2015 (due August 
15, 2015)
     Form 10-Q for the quarter ended September 30, 2015 (due 
November 15, 2015)
    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.

[[Page 1666]]

    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. EST on 
January 11, 2016, through 11:59 p.m. EST on January 25, 2016.

    By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2016-00591 Filed 1-11-16; 11:15 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 8 / Wednesday, January 13, 2016 / Notices 1665

requirements prevent the Market Maker 4 thereunder,27 the Exchange has provisions of 5 U.S.C. 552, will be
from quoting. In each scenario, the designated this rule filing as non- available for Web site viewing and
Exchange will review the reasons controversial. The Exchange has given printing in the Commission’s Public
behind the Market Maker inability to the Commission written notice of its Reference Room, 100 F Street NE.,
quote for compliance with the Rule. In intent to file the proposed rule change, Washington, DC 20549 on official
addition, the percentages included in along with a brief description and text business days between the hours of
the proposed definitions of Designated of the proposed rule change at least five 10:00 a.m. and 3:00 p.m. Copies of such
Percentage and Defined Limit are business days prior to the date of filing filing also will be available for
currently included in Interpretation and of the proposed rule change, or such inspection and copying at the principal
Policy .01 to Rule 11.8. Therefore, the shorter time as designated by the office of the Exchange. All comments
Exchange is not proposing to new Commission. received will be posted without change;
percentages governing a Market Maker’s At any time within 60 days of the the Commission does not edit personal
quoting obligations; it is seeking to filing of the proposed rule change, the identifying information from
adopt revised definitions that are Commission summarily may submissions. You should submit only
substantially similar to that of Nasdaq in temporarily suspend such rule change if information that you wish to make
order to provide a consistent rules with it appears to the Commission that such available publicly. All submissions
regard to Market Makers quoting action is: (1) Necessary or appropriate in should refer to File No. SR–BYX–2015–
obligations. the public interest; (2) for the protection 53, and should be submitted on or
of investors; or (3) otherwise in before February 3, 2016.
B. Self-Regulatory Organization’s
furtherance of the purposes of the Act. For the Commission, by the Division of
Statement on Burden on Competition
If the Commission takes such action, the Trading and Markets, pursuant to delegated
The Exchange does not believe that Commission shall institute proceedings authority.28
the proposed rule change will impose to determine whether the proposed rule Robert W. Errett,
any burden on competition not should be approved or disapproved. Deputy Secretary.
necessary or appropriate in furtherance
IV. Solicitation of Comments [FR Doc. 2016–00493 Filed 1–12–16; 8:45 am]
of the purposes of the act. To the
BILLING CODE 8011–01–P
contrary, allowing the Exchange to Interested persons are invited to
implement substantively identical rules submit written data, views, and
across each of the BGM Affiliated arguments concerning the foregoing, SECURITIES AND EXCHANGE
Exchanges regarding Market Maker including whether the proposed rule COMMISSION
registration and their obligations does change is consistent with the Act.
not present any competitive issues, but Comments may be submitted by any of [File No. 500–1]
rather is designed to provide greater the following methods:
harmonization among Exchange, BZX, In the Matter of DC Brands
Electronic Comments International Inc., Order of Suspension
EDGX, and EDGA rules of similar
purpose. The proposed rule change • Use the Commission’s Internet of Trading
should, therefore, result in less comment form (http://www.sec.gov/ January 11, 2016.
burdensome and more efficient rules/sro.shtml); or It appears to the Securities and
regulatory compliance and • Send an email to rule-comments@
Exchange Commission that there is a
understanding of Exchange Rules for sec.gov. Please include File No. SR–
lack of current and accurate information
common members of the BGM Affiliated BYX–2015–53 on the subject line. concerning the securities of DC Brands
Exchanges and an enhanced ability of Paper Comments International Inc. (‘‘DC Brands’’)
the BGM Affiliated Exchanges to fairly because DC Brands has not filed any
• Send paper comments in triplicate
and efficiently regulate Market Makers. periodic reports since it filed a Form
to Secretary, Securities and Exchange
C. Self-Regulatory Organization’s Commission, 100 F Street NE., 10–Q for the period ended June 30,
Statement on Comments on the Washington, DC 20549–1090. 2014. Specifically, DC Brands is over a
Proposed Rule Change Received From year delinquent in its periodic reporting
All submissions should refer to File No.
Members, Participants, or Others and it has not submitted the following
SR–BYX–2015–53. This file number
required filings:
The Exchange has neither solicited should be included on the subject line • Form 10–Q for the quarter ended
nor received written comments on the if email is used. To help the September 30, 2014 (due November 15,
proposed rule change. Commission process and review your 2014)
comments more efficiently, please use • Form 10–K for the fiscal year ended
III. Date of Effectiveness of the only one method. The Commission will
Proposed Rule Change and Timing for December 31, 2014 (due March 31,
post all comments on the Commission’s 2015)
Commission Action Internet Web site (http://www.sec.gov/ • Form 10–Q for the quarter ended
Because the foregoing proposed rule rules/sro.shtml). Copies of the March 31, 2015 (due May 15, 2015)
change does not: (A) Significantly affect submission, all subsequent • Form 10–Q for the quarter ended
the protection of investors or the public amendments, all written statements June 30, 2015 (due August 15, 2015)
interest; (B) impose any significant with respect to the proposed rule • Form 10–Q for the quarter ended
burden on competition; and (C) by its change that are filed with the
asabaliauskas on DSK5VPTVN1PROD with NOTICES

September 30, 2015 (due November 15,
terms, become operative for 30 days Commission, and all written 2015)
from the date on which it was filed or communications relating to the The Commission is of the opinion that
such shorter time as the Commission proposed rule change between the the public interest and the protection of
may designate it has become effective Commission and any person, other than investors require a suspension of trading
pursuant to section 19(b)(3)(A) of the those that may be withheld from the in the securities of the above-listed
Act 26 and paragraph (f)(6) of Rule 19b– public in accordance with the company.
26 15 U.S.C. 78s(b)(3)(A). 27 17 CFR 240.19b–4. 28 17 CFR 200.30–3(a)(12).

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1666 Federal Register / Vol. 81, No. 8 / Wednesday, January 13, 2016 / Notices

Therefore, it is ordered, pursuant to II. Self-Regulatory Organization’s respect to security-based swaps, thereby
Section 12(k) of the Securities Exchange Statement of the Purpose of, and helping to avoid undue market
Act of 1934, that trading in the Statutory Basis for, the Proposed Rule disruptions resulting from the change to
securities of the above-listed company is Change the definition of ‘‘security’’ under the
suspended for the period from 9:30 a.m. In its filing with the Commission, Act.8
EST on January 11, 2016, through 11:59 The Commission, noting the need to
FINRA included statements concerning
p.m. EST on January 25, 2016. avoid a potential unnecessary
the purpose of and basis for the
By the Commission. disruption to the security-based swap
proposed rule change and discussed any
market in the absence of an extension of
Brent J. Fields, comments it received on the proposed the Temporary Exemptions, and the
Secretary. rule change. The text of these statements need for additional time to consider the
[FR Doc. 2016–00591 Filed 1–11–16; 11:15 am] may be examined at the places specified potential impact of the revision of the
BILLING CODE 8011–01–P in Item IV below. FINRA has prepared Exchange Act definition of ‘‘security’’ in
summaries, set forth in sections A, B, light of ongoing Commission
and C below, of the most significant rulemaking efforts under Title VII of the
SECURITIES AND EXCHANGE aspects of such statements. Dodd-Frank Act, issued an Order which
COMMISSION extended and refined the applicable
A. Self-Regulatory Organization’s
[Release No. 34–76850; File No. SR–FINRA– Statement of the Purpose of, and expiration dates for the previously
2016–001] Statutory Basis for, the Proposed Rule granted Temporary Exemptions.9 The
Change Commission previously noted that
Self-Regulatory Organizations; extending the Temporary Exemptions
Financial Industry Regulatory 1. Purpose would facilitate a coordinated
Authority, Inc.; Notice of Filing and On July 1, 2011, the SEC issued an consideration of these issues with the
Immediate Effectiveness of a Proposed Order granting temporary exemptive
Rule Change To Extend the Expiration relief (the ‘‘Temporary Exemptions’’) limited application by their terms. For more
Date of FINRA Rule 0180 (Application from compliance with certain information about the rulebook consolidation
of Rules to Security-Based Swaps) process, see Information Notice, March 12, 2008
provisions of the Exchange Act in (Rulebook Consolidation Process).
January 7, 2016. connection with the revision, pursuant 8 In its Exemptive Release, the Commission noted

Pursuant to Section 19(b)(1) of the to Title VII of the Dodd-Frank Wall that the relief is targeted and does not include, for
instance, relief from the Act’s antifraud and anti-
Securities Exchange Act of 1934 Street Reform and Consumer Protection manipulation provisions. FINRA has noted that
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 Act (the ‘‘Dodd-Frank Act’’),4 of the FINRA Rule 0180 is similarly targeted. For instance,
notice is hereby given that on January 4, Exchange Act definition of ‘‘security’’ to paragraph (a) of FINRA Rule 0180 provides that
encompass security-based swaps.5 FINRA rules shall not apply to members’ activities
2016, Financial Industry Regulatory and positions with respect to security-based swaps,
Authority, Inc. (‘‘FINRA’’) filed with the Consistent with the Commission’s except for FINRA Rules 2010 (Standards of
Securities and Exchange Commission action, on July 8, 2011, FINRA filed for Commercial Honor and Principles of Trade), 2020
(‘‘SEC’’ or ‘‘Commission’’) the proposed immediate effectiveness FINRA Rule (Use of Manipulative, Deceptive or Other
0180,6 which, with certain exceptions, Fraudulent Devices), 3310 (Anti-Money Laundering
rule change as described in Items I, II, Compliance Program) and 4240 (Margin
and III below, which Items have been is intended to temporarily limit the Requirements for Credit Default Swaps). See also
prepared by FINRA. FINRA has application of FINRA rules 7 with paragraphs (b) and (c) of FINRA Rule 0180
designated the proposed rule change as (addressing the applicability of additional rules)
4 Public Law 111–203, 124 Stat. 1376 (2010). and FINRA Rule 0180 Notice of Filing.
constituting a ‘‘non-controversial’’ rule 9 See Securities Exchange Act Release No. 71485
5 See Securities Exchange Act Release No. 64795
change under paragraph (f)(6) of Rule (February 5, 2014), 79 FR 7731 (February 10, 2014)
(July 1, 2011), 76 FR 39927 (July 7, 2011) (Order
19b–4 under the Act,3 which renders Granting Temporary Exemptions Under the (Order Extending Temporary Exemptions Under the
the proposal effective upon receipt of Securities Exchange Act of 1934 in Connection Securities Exchange Act of 1934 in Connection
this filing by the Commission. The With the Pending Revision of the Definition of With the Revision of the Definition of ‘‘Security’’
‘‘Security’’ To Encompass Security-Based Swaps, to Encompass Security-Based Swaps, and Request
Commission is publishing this notice to for Comment) (‘‘Temporary Exemptions Extension
and Request for Comment) (the ‘‘Exemptive
solicit comments on the proposed rule Release’’). The term ‘‘security-based swap’’ is Release’’) stating that, for those expiring Temporary
change from interested persons. defined in Section 761 of the Dodd-Frank Act. See Exemptions ‘‘that are not directly linked to pending
also Securities Exchange Act Release No. 67453 security-based swap rulemakings, the Commission
I. Self-Regulatory Organization’s (July 18, 2012), 77 FR 48207 (August 13, 2012)
is extending the expiration date until the earlier of
Statement of the Terms of Substance of such time as the Commission issues an order or rule
(Further Definition of ‘‘Swap,’’ ‘‘Security-Based
determining whether any continuing exemptive
the Proposed Rule Change Swap,’’ and ‘‘Security-Based Swap Agreement’’;
relief is appropriate for security-based swap
Mixed Swaps; Security-Based Swap Agreement
FINRA is proposing to extend the activities with respect to any of these Exchange Act
Recordkeeping).
provisions or until three years following the
expiration date of FINRA Rule 0180 6 See Securities Exchange Act Release No. 64884
effective date of this Order.’’ The Temporary
(Application of Rules to Security-Based (July 14, 2011), 76 FR 42755 (July 19, 2011) (Notice Exemptions Extension Release further stated that
Swaps) to February 11, 2017. FINRA of Filing and Immediate Effectiveness of Proposed for each expiring Temporary Exemption ‘‘that is
Rule Change; File No. SR–FINRA–2011–033) related to pending security-based swap
Rule 0180 temporarily limits, with (‘‘FINRA Rule 0180 Notice of Filing’’). See also rulemakings, the Commission is extending the
certain exceptions, the application of Securities Exchange Act Release No. 74049 (January expiration date until the compliance date for the
FINRA rules with respect to security- 14, 2015), 80 FR 2983 (January 21, 2015) (Notice of related security-based swap-specific rulemaking.’’
based swaps. Filing and Immediate Effectiveness of Proposed See also Securities Exchange Act Release No. 71482
Rule Change; File No. SR–FINRA–2015–001)
asabaliauskas on DSK5VPTVN1PROD with NOTICES

The text of the proposed rule change (February 5, 2014), 79 FR 7570 (February 10, 2014)
(extending the expiration date of FINRA Rule 0180 (Extension of Exemptions for Security-Based
is available on FINRA’s Web site at to February 11, 2016). Swaps) (extending the expiration dates in interim
http://www.finra.org, at the principal 7 The current FINRA rulebook consists of: (1)
final rules that provide exemptions under the
office of FINRA and at the FINRA Rules; (2) NASD Rules; and (3) rules Securities Act of 1933 (the ‘‘Securities Act’’), the
Commission’s Public Reference Room. incorporated from NYSE (‘‘Incorporated NYSE Exchange Act, and the Trust Indenture Act of 1939
Rules’’). While the NASD Rules generally apply to for those security-based swaps that prior to July 16,
all FINRA members, the Incorporated NYSE Rules 2011 were security-based swap agreements and are
1 15 U.S.C. 78s(b)(1). apply only to those members of FINRA that are also defined as ‘‘securities’’ under the Securities Act and
2 17 CFR 240.19b–4. members of the NYSE. The FINRA Rules apply to the Exchange Act as of July 16, 2011 due solely to
3 17 CFR 240.19b–4(f)(6). all FINRA members, unless such rules have a more the provisions of Title VII of the Dodd-Frank Act).

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Document Created: 2016-01-13 01:00:52
Document Modified: 2016-01-13 01:00:52

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 1665