On May 16, 2012 U.S. Securities and Exchange Commission (SEC) announced that the commission filed an action today against SEC recidivist Nicholas Louis Geranio, Keith Michael Field, The Good One, Inc. and Kaleidoscope Real Estate, Inc. for their roles in a $35 million scheme to manipulate the market and to profit from the issuance and sale of certain U.S. companies’ stock through offshore boiler rooms. The scheme ran from approximately April 2007 to October 2009. According to the SEC’s complaint, the scheme worked as follows: Geranio organized eight U.S. Issuers, installed management (including Field), and entered into consulting agreements with them through his alter-ego entities The Good One and Kaleidoscope.

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On May 17, 2012 U.S. Securities and Exchange Commission (SEC) announced that the commission deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 203(f) of the Investment Advisers Act of 1940 against Belal K. Faruki (“Respondent”). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement, which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over him and the subject matter of these proceedings, and the findings contained in Section III.2 below, which are admitted, Respondent consents to the entry of this Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions, as set forth below.

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The Companies House of United Kingdom included the name Mukhtar Ali Babar of 15 Arterberry Road, London in the list of Register of Disqualified Directors effective from June 02, 2008 to June 01, 2013.

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The Companies House of United Kingdom included the name Ashish Roy Babber of 47 Springwell Road, Heston Middlesex in the list of Register of Disqualified Directors effective from October 26, 2006 to October 25, 2013.

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The Companies House of United Kingdom included the name Danielle Ester Baber of 9 Elisa House, Alicia Crescent, Alexandra Gate Newport in the list of Register of Disqualified Directors effective from August 25, 2008 to August 24, 2013.

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The Companies House of United Kingdom included the name Steven Baber of 15 Havannah Street, Sovereign Quay, Cardiff in the list of Register of Disqualified Directors effective from Macrh 17, 2006 to September 16, 2016.

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The Companies House of United Kingdom included the name Steven Paul Baber 15 Havannah Street, Sovereign Quay, Cardiff in the list of Register of Disqualified Directors effective from September 02, 2005 to September 01, 2016.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Fred Henery Johnson III of Ft. Lauderdale, Florida was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Nick John Kerrigan of Austin, Texas was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Lawrence Gary Kirshbaum of New York, New York was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Larry Scott Kurschner of San Diego, California was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Gregory Thomas Kwasnicki of Red Bank, New Jersey was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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On May 16, 2012 U.S. Securities and Exchange Commission (SEC) announced that the commission issued a Notice of Proposed Plan of Distribution and Opportunity for Comment on February 6, 2009, pursuant to Rule 1103 of the Commission’s Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. §201.1103. The Notice advised parties they could obtain a copy of the Distribution Plan at www.sec.gov. The Notice also advised that all persons desiring to comment on the Distribution Plan could submit their comments, in writing, no later than March 9, 2009. No comments were received by the Commission in response to the Notice. On May 15, 2009, the Commission issued an Order Approving Plan of Distribution (Exchange Act Rel. No. 59930).

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On May 16, 2012 U.S. Commodity Futures Trading Commission (CFTC) announced that it obtained two federal court consent orders of permanent injunction, one order requiring defendant Ronald E. Satterfield, of Charleston, S.C., to pay $957,146 of restitution and a $2,871,438 civil monetary penalty, and the other order requiring defendant Nicholas Bos (Bos) of Ludington, Mich., to pay $849,146 of restitution and a $2,547,438 civil monetary penalty, for operating a foreign currency Ponzi scheme. The Bos order also requires Patricia Bos, a relief defendant and Bos’ wife, to disgorge $295,000 in ill-gotten gains. The orders also impose permanent trading and registration bans against Satterfield and Bos.

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On May 16, 2012 Financial Services Authority (FSA) published that it has published a decision notice indicating that it has decided to prohibit Anthony Verrier (a senior executive at BGC) from performing any function in relation to any regulated activity in the financial services industry. The FSA believes that Verrier is not a fit and proper person due to concerns over his honesty, integrity and reputation. Verrier has referred the matter to the Upper Tribunal (the Tribunal) where he and the FSA will each present their case. The Tribunal will then determine the appropriate action for the FSA to take. The Tribunal may uphold, vary or cancel the FSA’s decision. The Tribunal’s decision will be made public on its website.

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