SEC NEWS DIGEST Issue 2002-89 May 8, 2002 COMMISSION ANNOUNCEMENTS COMMISSION MEETINGS Following is a schedule of Commission meetings which will be conducted under provisions of the Government in the Sunshine Act. Meetings will be scheduled according to the requirements of agenda items under consideration. Open meetings will be held in the Commission Meeting Room, Room 1C30, at the Commission's headquarters building, 450 Fifth Street, N.W., Washington, D.C. Visitors are welcome at all open meetings, insofar as space is available. Persons wishing to photograph or videotape Commission meetings must obtain permission in advance from the Secretary of the Commission. Persons wishing to tape record a Commission meeting should notify the Secretary's office 48 hours in advance of the meeting. Any member of the public who requires auxiliary aids such as a sign language interpreter or material on tape to attend a public meeting should contact Rochelle Franks, Office of Administrative and Personnel Management, to make arrangements. Ms. Franks can be reached at TTY number (202) 942-9558. If you are calling from a non-TTY number, please call the Relay Service at 1-800-877-8339. CLOSED MEETING – MONDAY, MAY 13, 2002 – 10:00 A.M. The subject matter of the closed meeting scheduled for Monday, May 13, 2002, will be: Formal orders of investigation; Institution and settlement of injunctive actions; and Institution and settlement of administrative proceedings of an enforcement nature. OPEN MEETING – TUESDAY, MAY 14, 2002 – 10:00 A.M. The subject matter of the open meeting scheduled for Tuesday, May 14, 2002, will be: 1. The Commission will consider whether to jointly adopt a new rule with the Commodity Futures Trading Commission (CFTC) generally requiring that the final settlement price for each cash-settled security futures product fairly reflect the opening price of the underlying security or securities, and that trading in any security futures product halt when a regulatory halt is instituted with respect to a security or securities underlying the security futures product by the national securities exchange or national securities association listing the security. The rule being considered would set forth more specifically how the exchange's or association's rules can satisfy provisions added to the Commodity Exchange Act (CEA) and the Securities Exchange Act of 1934 (Exchange Act) by the Commodity Futures Modernization Act of 2000. The Commission will also consider whether to issue a joint interpretation with the CFTC of the statutory requirement under the CEA and the Exchange Act that procedures be put in place for coordinated surveillance among the markets trading security futures products and any market trading any security underlying the security futures products or any related security. 2. The Commission will consider whether to propose amendments to Rules 134, 156, and 482 under the Securities Act of 1933; Rule 34b-1 under the Investment Company Act of 1940; and four investment company registration forms (Forms N-1A, N-3, N-4, and N-6). The proposed amendments would require enhanced disclosure in mutual fund advertisements and are designed to encourage advertisements that convey balanced information to prospective investors, particularly with respect to past performance. The proposed amendments also would implement a provision of the National Securities Markets Improvement Act of 1996 by eliminating the requirement that Rule 482 advertisements for an investment company contain only information the substance of which is included in the investment company's statutory prospectus. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 942- 7070. TRADING SUSPENDED IN SECURITIES OF PINNACLE BUSINESS MANAGEMENT, INC. The Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act), of trading of the securities of Pinnacle Business Management, Inc. (PCBM), of Clearwater, Florida at 9:30 a.m. on May 8, 2002, and terminating at 11:59 p.m. on May 21, 2002. The Commission temporarily suspended trading in the securities of PCBM because questions that have been raised regarding the accuracy of assertions made by PCBM, and by others, in Commission filings and in documents sent to and statements made to investors concerning among other things, a planned spin-off by PCBM of a subsidiary in May 2002, the initial price at which the subsidiary will trade after the spin-off has been completed, and the conditions bearing on the subsidiary's chances of achieving an American Stock Exchange listing. The Commission cautions broker dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company. Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to PCBM's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action. [Rel. No. 34-45890, May 7, 2002] If any broker-dealer or other person has any information that may relate to this matter, they should immediately communicate it to Scott Friestad, Assistant Director (202-942- 4732), Howard Scheck, Branch Chief (202-942-4516), or Lawrence Renbaum, Senior Counsel (202-942-4628) in the Washington, D.C. office of the United States Securities and Exchange Commission. (Rel. 34-45890) COMMISSION APPROVES RULES TO ADDRESS ANALYST CONFLICTS SEC Also Requires EDGAR Filings by Foreign Issuers The Commission today approved proposed changes to the rules of the National Association of Securities Dealers and the New York Stock Exchange to address conflicts of interest that are raised when research analysts recommend securities in public communications. These conflicts can arise when analysts work for firms that have investment banking relationships with the issuers of the recommended securities, or when the analyst or firm owns securities of the recommended issuer. These rules include the following provisions, among others: * Promises of Favorable Research. The rules changes will prohibit analysts from offering or threatening to withhold a favorable research rating or specific price target to induce investment banking business from companies. The rule changes also impose "quiet periods" that bar a firm that is acting as manager or co- manager of a securities offering from issuing a report on a company within 40 days after an initial public offering or within 10 days after a secondary offering for an inactively traded company. Promising favorable research coverage to a company will not be as attractive if the research follows research issued by other analysts. * Limitations on Relationships and Communications. The rule changes will prohibit research analysts from being supervised by the investment banking department. In addition, investment banking personnel will be prohibited from discussing research reports with analysts prior to distribution, unless staff from the firm's legal/compliance department monitor those communications. Analysts will also be prohibited from sharing draft research reports with the target companies, other than to check facts after approval from the firm's legal/compliance department. This provision helps protect research analysts from influences that could impair their objectivity and independence. * Analyst Compensation. The rule changes will bar securities firms from tying an analyst's compensation to specific investment banking transactions. Furthermore, if an analyst's compensation is based on the firm's general investment banking revenues, that fact will have to be disclosed in the firm's research reports. Prohibiting compensation from specific investment banking transactions significantly curtails a potentially major influence on research analysts' objectivity. * Firm Compensation. The rule changes will require a securities firm to disclose in a research report if it managed or co-managed a public offering of equity securities for the company or if it received any compensation for investment banking services from the company in the past 12 months. A firm will also be required to disclose if it expects to receive or intends to seek compensation for investment banking services from the company during the next 3 months. Requiring securities firms to disclose compensation from investment banking clients can alert investors to potential biases in their recommendations. * Restrictions on Personal Trading by Analysts. The rule changes will bar analysts and members of their households from investing in a company's securities prior to its initial public offering if the company is in the business sector that the analyst covers. In addition, the rule changes will require "blackout periods" that prohibit analysts from trading securities of the companies they follow for 30 days before and 5 days after they issue a research report about the company. Analysts will also be prohibited from trading against their most recent recommendations. Removing analysts' incentives to trade around the time they issue research reports should reduce conflicts arising from personal financial interests. * Disclosures of Financial Interests in Covered Companies. The rule changes would require analysts to disclose if they own shares of recommended companies. Firms will also be required to disclose if they own 1% or more of a company's equity securities as of the previous month end. Requiring analysts and securities firms to disclose financial interests can alert investors to potential biases in their recommendations. * Disclosures in Research Reports Regarding the Firm's Ratings. The rule changes will require firms to clearly explain in research reports the meaning of all ratings terms they use, and this terminology must be consistent with its plain meaning. Additionally, firms will have to provide the percentage of all the ratings that they have assigned to buy / hold / sell categories and the percentage of investment banking clients in each category. Firms will also be required to provide a graph or chart that plots the historical price movements of the security and indicates those points at which the firm initiated and changed ratings and price targets for the company. These disclosures will assist investors in deciding what value to place on a securities firm's ratings and provide them with better information to assess its research. * Disclosures During Public Appearances by Analysts. The rule changes will require disclosures from analysts during public appearances, such as television or radio interviews. Guest analysts will have disclose if they or their firm have a position in the stock and also if the company is an investment banking client of the firm. This disclosure will inform investors who learn of analyst opinions and ratings through the media, rather than in written research reports, of analyst conflicts. The Commission will request the NASD and NYSE to report within a year of implementing these rules on their operation and effectiveness, and whether they recommend any changes or additions to the rules. These rules are part of an ongoing process by the Commission, NASD, NYSE, and the states to address conflicts of interest affecting the production and dissemination of research by securities firms. On April 24, 2002, the Commission announced that it had commenced a formal inquiry into market practices concerning research analysts and the conflicts that can arise from the relationship between research and investment banking. It is possible that this inquiry will indicate the need for further rulemaking by the NASD and NYSE or additional Commission action. Provisions of these rule changes will take effect 60 to 180 days from issuance of the Commission's order, depending on the provision. Adoption of Mandated EDGAR Filing For Foreign Issuers The Commission also today adopted rule amendments that will require foreign companies and foreign governments to file their Securities Act and Exchange Act documents electronically through the Commission's Electronic Data Gathering, Analysis and Retrieval (EDGAR) System. Currently the Commission's rules only permit, but do not require, foreign issuers to file their securities documents on EDGAR. By mandating the electronic filing of foreign issuers' securities documents on EDGAR, the Commission seeks to realize the same investor benefits and the same efficiencies in information transmission, dissemination, retrieval and analysis that it has achieved through mandated EDGAR filing for domestic issuers. The Commission adopted electronic filing requirements for domestic companies in 1993 and completed the phase-in of these requirements in 1996. Since its inception, the primary goal of the EDGAR system has been to facilitate the more rapid dissemination of, and easier access to, financial and business information about companies and other parties participating in U.S. capital markets. Since the Commission's adoption of EDGAR filing requirements for domestic issuers, numerous advances in information and telecommunications technology have occurred that have transformed the Internet into a principal means for the rapid dissemination and retrieval of information. These technological advances, together with the Commission's modernization of EDGAR, should reduce the costs of EDGAR filing for foreign issuers and make these costs more comparable to those of domestic filers. Because of these advances, the Commission believes that the investing public has come to expect to be able to access electronically information about public companies, regardless of their country of origin, and about foreign governments. The final rules will amend Regulation S-T, the Commission's rules governing electronic filing, to eliminate the foreign issuer exception from mandated EDGAR filing for most Securities Act and Exchange Act documents. The amendments will require the electronic filing of: * foreign private issuers' Securities Act registration statements and Exchange Act registration statements and reports; * foreign governments' Securities Act registration statements and Exchange Act registration statements and reports; * Multijurisdictional Disclosure System (MJDS) forms filed by Canadian issuers; * Statements of beneficial ownership on Schedules 13D and 13G and tender offer schedules that pertain to the securities of a foreign issuer, whether filed by a foreign or domestic person; * Form CB, the form used for cross-border rights offers, exchange offers and business combinations that are exempt from the tender offer rules or Securities Act registration, if the filer is an Exchange Act reporting company; * Form 6-K reports, except under specified circumstances, when paper filing would be permitted; and * most Trust Indenture Act forms. The amendments will further * permit, but not require, supranational entities, such as the World Bank, to file their reports electronically; * continue to require documents submitted under Exchange Act Rule 12g3-2(b)-[1]- to be in paper only; * eliminate the requirement that a first-time EDGAR filer provide a paper copy of its electronic filing to the Commission; and * permit a national securities exchange to file a Form 25, which reports the delisting of a company's class of securities, voluntarily on EDGAR. A majority of commenters generally supported the proposed EDGAR filing requirements for foreign issuers discussed in Release No. 33-8016 (September 28, 2001). The final rules will include several changes from the proposal to accommodate commenters' concerns. The following are some of the principal changes. * The Commission proposed to eliminate the option of providing an English summary instead of a full English translation of a foreign language exhibit or attachment to a filing. The final rules will permit the use of an English summary, with exceptions codified for specified, significant documents. The final rules also provide better guidance than the current rules regarding what constitutes an adequate summary. * The Commission proposed to require the EDGAR filing of all Form 6-K reports except in one instance--when submitting a foreign company's attached "glossy" annual report to security holders. The final rules will provide for another exception. If the content of a Form 6-K report has not been distributed to the press or the company's security holders, and does not contain new material information, the issuer may submit the Form 6-K report in either paper or electronic format. * The Commission proposed to retain the current requirement that electronic filings include a written representation regarding the fairness and accuracy of any English translation. The final rules will eliminate this written representation requirement. * Finally, rather than adopting a four month transition period, as proposed, the final rules will go into effect November 4, 2002—almost six months from today. This transition period will give filers adequate preparation time. The release encourages companies to submit test filings or to begin electronic filing on a voluntary basis during this transition period. Extension of Exemption From Definitions of "Broker" and "Dealer" Finally, the Commission approved the issuance of an order extending the temporary exemption of banks, savings associations and savings banks from the definitions of "dealer" until Nov. 12, 2002, and "broker" until May 12, 2003, under Sections 3(a)(4) and 3(a)(5) of the Securities Exchange Act of 1934. (Press Rel. 2002-63) ENFORCEMENT PROCEEDINGS IN THE MATTER OF WSF CORPORATION An Administrative Law Judge today issued an initial decision in Administrative Proceeding 3-10668, WSF Corporation. The Order Instituting Proceedings alleged that WSF Corporation had not filed its annual report for the year ended December 31, 2000, or its quarterly reports for the periods ending March 31, 2001, June 30, 2001, and September 20, 2001. The law judge determined that WSF Corporation had failed to file required reports as alleged in the Order Instituting Proceedings. For the protection of investors, the law judge ordered that the registration of WSF Corporation's common stock should be revoked. (Initial Decision No. 204; File No. 3-10668) SEBASTIAN CORRIERE ORDERED TO STOP SOLICITING INVESTORS FOR FICITIOUS TRADING PROGRAMS On April 18, the Commission obtained a Temporary Restraining Order (TRO) from the United States District Court for the Middle District of Florida, temporarily barring Sebastian Corriere (Corriere) from soliciting investors for fictitious trading programs. The TRO also froze Corriere's assets, as well as those of the relief defendants, Maria Rosa Corriere, Quantum Equities, Inc. and The Kings Fellowship, Inc., whom the Commission alleged received proceeds from the fraud. The Commission's complaint alleged that Corriere, age 64, a resident of Clearwater, Florida, raised almost $3 million from investors located across the country. The Complaint alleged that Corriere offered participation interests in fictitious prime bank trading programs involving medium term notes or MTNs. Corriere promised investors a return of 100 percent per week, guaranteed investors that they could not lose their initial investment, and told investors that these trading programs were risk-free and safe. According to the Commission's complaint, these trading programs do not exist, investors never received the returns promised, and most investors lost their initial investment. In addition, the complaint alleged that Corriere diverted some investor funds for personal use. The Complaint alleged that, by this conduct, Corriere violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The action is ongoing. All further inquiries should be directed to Joseph M. Mannon or Linda Ieleja Gerstman of the Midwest Regional Office of the Securities and Exchange Commission at (312) 353-7390. [U.S. v. Sebastian Corriere, et al., U.S. District Court for the Middle District of Florida (Tampa Division), Civil Action No. 8:02-CV-666-T17EAJ (M.D. Fla.)] (LR-17506) SEC FILES FRAUD CHARGES AGAINST PINNACLE BUSINESS MANAGEMENT INC., VINCENT LO CASTRO AND JEFFREY TURINO The Commission announced today the filing of a civil action against Pinnacle Business Management, Inc. (Pinnacle), and two of its top officers, Vincent A. Lo Castro and Jeffrey G. Turino, in federal district court in Tampa, Florida. The Commission's complaint alleges that Lo Castro and Turino are responsible for a materially false and misleading press release that Pinnacle issued on April 2, 2002. The Commission's complaint charges that Pinnacle, Lo Castro and Turino violated Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Commission's complaint alleges that the April 2, 2002, press release materially misled investors regarding a proposed spin-off of a Pinnacle subsidiary known as All Pro. In the press release, Pinnacle stated that after a spin-off to Pinnacle shareholders, All Pro will seek a listing on the American Stock Exchange (AMEX), and that its initial trading price will be $4.00 per share. Pinnacle's shareholders are scheduled to receive one share of All Pro for every fifty shares of Pinnacle stock that they own. Under Pinnacle's formulation, an investment of $0.35 for fifty Pinnacle shares (Pinnacle shares trade for approximately $0.007) would pay a $4.00 dividend when All Pro begins trading on the AMEX in June 2002. The Commission's complaint alleges that Pinnacle lacked a reasonable basis for stating that All Pro will trade at $4.00 per share, that Pinnacle misquoted an AMEX floor broker to convey a false and misleading endorsement of the company's claims, that Pinnacle overstated the likelihood that All Pro will obtain an AMEX listing, and that given Pinnacle's nearly two billion shares of common stock outstanding, an implied initial market capitalization of $160 million for All Pro is materially misleading. The Commission is seeking permanent injunctions and civil penalties against Pinnacle, Lo Castro and Turino. The Commission is also seeking to bar Lo Castro and Turino from serving as officers or directors of any public company. [SEC v. Pinnacle Business Management, Inc., et al., 8:02-CV-822, USDC, M.D. Fla., Tampa Div.] (LR-17507) COURT ORDERS LAW FIRM TO PAY $65,690.00 IN SETTLEMENT OF SEC'S CONTEMPT MOTION The Commission announced that on April 24, 2002, the Honorable Judge Sandra S. Beckwith entered an Agreed Order resolving the Commission's Motion for an Order to Show Cause and requiring the Cincinnati law firm of Brown Cummins & Brown Co., L.P.A. to pay to the court-appointed Receiver the sum of $65,690.00 for the benefit of injured investors. Brown Cummins agreed to the Order without admitting the allegations contained in the Commission's Motion. The Commission's Motion for an Order to Show Cause, filed on July 13, 2001, alleged that after entry of the Court's Order of Permanent Injunction on February 26, 2001, Brown Cummins transferred funds belonging to Defendant Stephen G. Donahue into its general operating account to pay Donahue's legal fees in violation of the asset freeze imposed by the Order of Permanent Injunction. The Motion also alleged that Brown Cummins failed to turn over funds belonging to Donahue to the court-appointed Receiver as required by the Court's Order Appointing a Receiver entered on March 6, 2001. The Commission's complaint in this matter alleged that Donahue engaged in a 12-year scheme to misappropriate at least $6 million from at least 200 of his brokerage clients. The Court's Order of Permanent Injunction permanently enjoined Donahue from further violating the antifraud provisions of the federal securities laws, froze all funds belonging to Donahue or in which he held a beneficial interest and ordered Donahue to pay disgorgement and civil penalties in amounts to be determined in a separate hearing. The Court's Order Appointing a Receiver ordered all persons to turn over to the Receiver any property owned by Donahue or in which Donahue had an interest. For further information see LR-16909 (February 28, 2001) and LR-17075 (July 24, 2001). [SEC v. Stephen G. Donahue and Donahue Securities, Inc., USDC, S.D. Ohio, Western Division at Cincinnati, Civil Action No. C-1-01-116] (LR-17508) INVESTMENT COMPANY ACT RELEASES PRIVATE ASSETMARK FUNDS AND ASSETMARK INVESTMENT SERVICES, INC. An order has been issued on an application filed by AssetMark Funds and AssetMark Investment Services, Inc. for an exemption from Section 15(a) of the Investment Company Act and Rule 18f-2 under the Act. The order permits applicants to enter into and materially amend subadvisory agreements without shareholder approval and grants relief from certain disclosure requirements. (Rel. IC-25569 – May 6) PIONEER BALANCED FUND, ET AL. An order has been issued on an application filed by Pioneer Balanced Fund, et al. under Section 6(c) of the Investment Company Act exempting applicants from Section 15(a) of the Act and Rule 18f-2 under the Act. The order permits applicants to enter into and materially amend subadvisory agreements without shareholder approval. (Rel. IC-25570 – May 6) SELF-REGULATORY ORGANIZATIONS IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGES A proposed rule change filed by the National Association of Securities Dealers to extend a pilot amendment to NASD Rule 4120 regarding Nasdaq's authority to initiate and continue trading halts (SR-NASD-2002-57) has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication of the proposal is expected in the Federal Register during the week of May 6. (Rel. 34-45851) A proposed rule change (SR-NYSE-2002-17) filed by the New York Stock Exchange relating to the extension of the pilot program for allocating Exchange-Traded Funds has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication of the proposal is expected to in the Federal Register during the week of May 6. (Rel. 34-45884) A proposed rule change filed by the Philadelphia Stock Exchange to extend PACE price improvement and order execution and price protection pilot programs (SR-PHLX-2002- 28) has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication of the proposal is expected in the Federal Register during the week of May 6. (Rel. 34-45889) PROPOSED RULE CHANGES A proposed rule change has been filed by the Cincinnati Stock Exchange (SR-CSE-2002- 04) relating to the introduction of order delivery and automated response. Publication of the proposal is expected in the Federal Register during the week May 6. (Rel. 34-45873) The National Futures Association has filed a proposed rule change (SR-NFA-2002-03) under Section 19(b)(7) of the Securities Exchange Act of 1934 related to Futures Commission Merchants and Introducing Brokers Anti-Money Laundering Program. Publication of the proposal is expected in the Federal Register during the week of May 6. (Rel. 34-45887) WITHDRAWALS GRANTED An order has been issued granting the application of BIOQUAL, Inc. to withdraw its Common Stock, $.01 par value, from listing and registration on the Chicago Stock Exchange, effective at the opening of business on May 7, 2002. (Rel. 34-45885) An order has been issued granting the application of DRS Technologies, Inc. to withdraw its Common Stock, $.01 par value, from listing and registration on the American Stock Exchange, effective at the opening of business on May 7, 2002. (Rel. 34-45886) An order has been issued granting the application of the Pacific Exchange to strike from listing and registration certain call and put options contracts issued by The Options Clearing Corporation respecting certain underlying securities, effective May 8, 2002. (Rel. 34-45891) SECURITIES ACT REGISTRATIONS The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e- mail box address: . In most cases, this information is also available on the Commission's website: . S-4 HOCKEY CO, C/O MASKA US 139 HARVEST LANE, P O BOX 1200, WILLISTON, VT, 05495, 8028724226 - 0 ($125,000,000.00) Equity, (File 333-87648 - May. 7) (BR. 05) S-3 PRACTICEWORKS INC, 1765 THE EXCHANGE, SUITE 200, ATLANTA, GA, 30339, 0 ($62,962,500.00) Equity, (File 333-87650 - May. 7) (BR. 08) S-4 ACACIA RESEARCH CORP, 500 NEWPORT CENTER DRIVE, #, NEWPORT BEACH, CA, 92660, 9494808300 - 38,563,581 ($18,925.75) Equity, (File 333-87654 - May. 7) (BR. 07) N-2 PIONEER HIGH INCOME TRUST, 60 STATE ST., 19TH FL., BOSTON, MA, 02109, 6174224960 - 40 ($1,000,000.00) Equity, (File 333-87656 - May. 7) (BR. 16) S-3 JONES APPAREL GROUP INC, 250 RITTENHOUSE CIRCLE, KEYSTONE PK, BRISTOL, PA, 19007, 2157854000 - 562,947 ($21,724,125.00) Unallocated (Universal) Shelf, (File 333-87658 - May. 7) (BR. 02) N-2 BLACKROCK MARYLAND MUNICIPAL BOND TRUST, 345 PARK AVENUE, NEW YORK, NY, 10154, 2127545300 - 40 ($1,000,000.00) Equity, (File 333-87660 - May. 7) (BR. 22) F-1 WILLIS GROUP HOLDINGS LTD, TEN TRINITY SQUARE, LONDON ENGLAND, X0, 00000, 0114402074 - 0 ($517,500,000.00) Equity, (File 333-87662 - May. 7) (BR. 01) N-2 BLACKROCK NEW YORK MUNICIPAL BOND TRUST, 345 PARK AVE, NEW YORK, NY, 10154, 2127545300 - 40 ($25,000.00) Equity, (File 333-87664 - May. 7) (BR. 22) N-2 BLACKROCK FLORIDA MUNICIPAL BOND TRUST, 345 PARK AVENUE, NEW YORK, NY, 10154, 2127545300 - 40 ($1,000,000.00) Equity, (File 333-87666 - May. 7) (BR. 22) S-8 COHESION TECHNOLOGIES INC, 2500 FABER PL, PALO ALTO, CA, 94303, 6508560200 - 0 ($370,218.00) Equity, (File 333-87668 - May. 7) (BR. 36) S-8 SURGILIGHT INC, 12001 SCIENCE DRIVE, SUITE 140, ORLANDO, FL, 32826, 4074824555 - 395,296 ($100,000.00) Other, (File 333-87670 - May. 7) (BR. 09) S-8 HI/FN INC, 750 UNIVERSITY AVENUE, STE 230, LOS GATOS, CA, 95032, 4093993500 - 0 ($9,380,795.09) Equity, (File 333-87672 - May. 7) (BR. 36) S-8 CADENCE DESIGN SYSTEMS INC, 2655 SEELY ROAD BLDG 5, SAN JOSE, CA, 95134, 4089431234 - 0 ($27,534.00) Equity, (File 333-87674 - May. 7) (BR. 03) S-8 WMS INDUSTRIES INC /DE/, 800 S. NORTHPOINT BLVD., WAUKEGAN, IL, 60085, 847-785-3000 - 0 ($3,600,000.00) Equity, (File 333-87676 - May. 7) (BR. 06) S-3 RAZORFISH INC, 32 MERCER STREET, NEW YORK, NY, 10013, 2129665960 - 0 ($7,761,295.00) Equity, (File 333-87678 - May. 7) (BR. 03) N-2 COHEN & STEERS QUALITY REIT PREFERRED FUND INC, 757 THIRD AVENUE, NEW YORK, NY, 10017, 2128323232 - 40,000 ($1,000,000.00) Equity, (File 333-87682 - May. 7) (BR. 22) S-3 SAFECO CORP, 4333 BROOKLYN AVE NE, SAFECO PLAZA, SEATTLE, WA, 98185, 2065455000 - 0 ($900,000,000.00) Equity, (File 333-87686 - May. 7) (BR. 01) S-3 ARTISAN COMPONENTS INC, 1195 BORDEAUX DRIVE, SUNNYVALE, CA, 94089, 4087345600 - 362,500 ($5,245,375.00) Equity, (File 333-87688 - May. 7) (BR. 36) S-8 SUMMA INDUSTRIES/, 21250 HAWTHORNE BLVD, STE 500, TORRANCE, CA, 90503, 9092733485 - 0 ($248,630.00) Equity, (File 333-87690 - May. 7) (BR. 06) S-8 SUMMA INDUSTRIES/, 21250 HAWTHORNE BLVD, STE 500, TORRANCE, CA, 90503, 9092733485 - 0 ($2,387,500.00) Equity, (File 333-87692 - May. 7) (BR. 06) S-8 INTEGRAL SYSTEMS INC /MD/, 500 WIND RIVERWAY, ALAMEDA, CA, 94501, 5107484100 - 0 ($15,930,000.00) Equity, (File 333-87694 - May. 7) (BR. 03) SB-2 CYBER LAW REPORTER INC, 6524 SAN FELIPE, SUITE 252, HOUSTON, TX, 77057, 560,000 ($5,600.00) Equity, (File 333-87696 - May. 7) (BR. 09) S-2 PENN AMERICA GROUP INC, 420 S YORK RD, HATBORO, PA, 19040, 2154433600 - 300,000 ($5,013,000.00) Equity, (File 333-87698 - May. 7) (BR. 01) N-2 BLACKROCK VIRGINIA MUNICIPAL BOND TRUST, 345 PARK AVENUE, NEW YORK, NY, 10154, 2127545300 - 40 ($1,000,000.00) Equity, (File 333-87700 - May. 7) (BR. 22) N-2 BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST, 345 PARK AVENUE, NEW YORK, NY, 10154, 2127545300 - 40 ($1,000,000.00) Equity, (File 333-87706 - May. 7) (BR. 22) S-8 INTERNATIONAL BUSINESS MACHINES CORP, 1 NEW ORCHARD ROAD, ARMONK, NY, 10504-, 9144991900 - 0 ($8,910,409,264.52) Equity, (File 333-87708 - May. 7) (BR. 03) SB-2 FRANKLIN LAKE RESOURCES INC /NV, 172 STARLITE STREET, -, SOUTH SAN FRANCISCO, CA, 94060, 650-588-0425 - 1,623,398 ($1,233,782.00) Equity, (File 333-87710 - May. 7) (BR. 04) S-8 PROVIDENTIAL HOLDINGS INC, 8700 WARNER AVE STE 100, 13TH FLOOR, NEW YORK, NY, 92708, 7145960244 - 3,000,000 ($750,000.00) Equity, (File 333-87712 - May. 7) (BR. 08) S-8 24/7 MEDIA INC, 1250 BROADWAY, 27TH FLOOR, NEW YORK, NY, 10001, 2122317100 - 0 ($750,000.00) Equity, (File 333-87714 - May. 7) (BR. 02) S-3 NAVISTAR INTERNATIONAL CORP, 4201 WINFIELD ROAD, WARRENVILLE, IL, 60555, 630-753-5000 - 0 ($220,000,000.00) Other, (File 333-87716 - May. 7) (BR. 05) S-8 ADVANCED ENERGY INDUSTRIES INC, 1625 SHARP POINT DR, FT COLLINS, CO, 80525, 9702214670 - 0 ($19,092,000.00) Equity, (File 333-87718 - May. 7) (BR. 36) S-3 ADVANCED ENERGY INDUSTRIES INC, 1625 SHARP POINT DR, FT COLLINS, CO, 80525, 9702214670 - 0 ($3,818,400.00) Equity, (File 333-87720 - May. 7) (BR. 36) S-8 AETNA INC /PA/, 151 FARMINGTON AVENUE, HARTFORD, CT, 06156, 8602730123 - 7,500,000 ($357,000,000.00) Equity, (File 333-87722 - May. 7) (BR. 01) S-8 MOTOROLA INC, 1303 E ALGONQUIN RD, SCHAUMBURG, IL, 60196, 8475765000 - 0 ($9,275,823.80) Equity, (File 333-87724 - May. 7) (BR. 37) S-8 AETNA INC /PA/, 151 FARMINGTON AVENUE, HARTFORD, CT, 06156, 8602730123 - 6,500,000 ($309,400,000.00) Equity, (File 333-87726 - May. 7) (BR. 01) S-8 MOTOROLA INC, 1303 E ALGONQUIN RD, SCHAUMBURG, IL, 60196, 8475765000 - 0 ($1,420,725,000.00) Equity, (File 333-87728 - May. 7) (BR. 37) S-8 MOTOROLA INC, 1303 E ALGONQUIN RD, SCHAUMBURG, IL, 60196, 8475765000 - 0 ($49,506,224.43) Equity, (File 333-87730 - May. 7) (BR. 37) S-8 BELLSOUTH CORP, 1155 PEACHTREE ST NE, ROOM 15G03, ATLANTA, GA, 30309-3610, 4042492000 - 900,000 ($27,922,500.00) Equity, (File 333-87734 - May. 7) (BR. 37) S-8 JOHNSON & JOHNSON, ONE JOHNSON & JOHNSON PLZ, NEW BRUNSWICK, NJ, 08933, 7325242454 - 90,000 ($5,669,100.00) Equity, (File 333-87736 - May. 7) (BR. 01) S-8 VARIAN SEMICONDUCTOR EQUIPMENT ASSOCIATES INC, 35 DORY ROAD, GLOUCESTER, MA, 01930-2297, 9782812000 - 150,000 ($6,952,500.00) Equity, (File 333-87738 - May. 7) (BR. 36) S-8 HEWLETT PACKARD CO, 3000 HANOVER ST, PALO ALTO, CA, 94304, 4158571501 - 9,565,000 ($25,000,000.00) Equity, (File 333-87742 - May. 7) (BR. 03) S-8 K2 INC, 4900 S EASTERN AVE, SUITE 200, LOS ANGELES, CA, 90040, 3237242800 - 0 ($11,620,000.00) Equity, (File 333-87744 - May. 7) (BR. 05) S-8 MULTINET INTERNATIONAL CORP INC, 8100 WEST SAHARA AVE, SUITE 200, LAS VEGAS, NV, 89117, 7029660600 - 0 ($304,012.50) Equity, (File 333-87746 - May. 7) (BR. 08) S-8 SMITH & WESSON HOLDING CORP, 14500 N. NORTHSIGHT, SUITE 221, SCOTTSDALE, AZ, 85260, 4809499700 - 10,000,000 ($19,761,000.00) Equity, (File 333-87748 - May. 7) (BR. 09) S-8 SMITH & WESSON HOLDING CORP, 14500 N. NORTHSIGHT, SUITE 221, SCOTTSDALE, AZ, 85260, 4809499700 - 10,000,000 ($18,700,000.00) Equity, (File 333-87750 - May. 7) (BR. 09) S-3 RENT A CENTER INC DE, 5700 TENNYSON PARKWAY, THIRD FLOOR, PLANO, TX, 75024, 2144192613 - 0 ($221,271,960.00) Equity, (File 333-87752 - May. 7) (BR. 06) S-3 ELDERTRUST, 101 E STATE ST, STE 100, KENNETT SQUARE, PA, 19348, 6109254200 - 130,349 ($1,070,165.29) Equity, (File 333-87756 - May. 7) (BR. 08) S-4 IXYS CORP /DE/, 3540 BASSETT ST, SANTA CLARA, CA, 95054, 4089540500 - 0 ($45,086,486.00) Equity, (File 333-87758 - May. 7) (BR. 36) SB-2 JAG MEDIA HOLDINGS INC, 6865 SW 18TH STREET SUITE B13, BACA RATON, FL, 33433, 7322921800 - 24,911,807 ($14,448,848.00) Equity, (File 333-87760 - May. 7) (BR. 08) F-10 TRANSALTA CORP, 110 12TH AVE SW BOX 1900 STATION M, CALGARY ALBERTA T2P 2MI, CALGARY, A0, 00000, 2128948400 - 0 ($1,000,000,000.00) Other, (File 333-87762 - May. 7) (BR. 02) S-8 BROOKS AUTOMATION INC, 15 ELIZABETH DR, CHELMSFORD, MA, 01824, 9782622400 - 75,000 ($2,463,750.00) Equity, (File 333-87764 - May. 7) (BR. 36) S-8 QUINTON CARDIOLOGY SYSTEMS INC, 3303 MONTE VILLA PKWY, BOTHELL, WA, 98021, 4254022000 - 5,443,877 ($31,752,488.48) Equity, (File 333-87768 - May. 7) (BR. 36) S-8 J BIRD MUSIC GROUP LTD, 396 DASSBURY ROAD, SUITE 301, WILTON, CT, 06897, 2037619393 - 670,000 ($127,300.00) Equity, (File 333-87770 - May. 7) (BR. 09) S-3 KFX INC, 3300 EAST 1ST AVENUE, SUITE 290, DENVER, CO, 80206, 3032932992 - 10,054,100 ($24,733,086.00) Equity, (File 333-87774 - May. 7) (BR. 02) S-8 BEECHPORT CAPITAL CORP, 132 S THIRD ST, OAKDALE, CA, 95361, 2098483900 - 2,000,000 ($900,000.00) Equity, (File 333-87776 - May. 7) (BR. 09) RECENT 8K FILINGS Form 8-K is used by companies to file current reports on the following events: Item 1. Changes in Control of Registrant. Item 2. Acquisition or Disposition of Assets. Item 3. Bankruptcy or Receivership. Item 4. Changes in Registrant's Certifying Accountant. Item 5. Other Materially Important Events. Item 6. Resignations of Registrant's Directors. Item 7. Financial Statements and Exhibits. Item 8. Change in Fiscal Year. Item 9. Regulation FD Disclosure. The following companies have filed 8-K reports for the date indicated and/or amendments to 8-K reports previously filed, responding to the item(s) of the form specified. 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE 8K ITEM NO. NAME OF ISSUER CODE 1 2 3 4 5 6 7 8 9 DATE COMMENT ------------------------------------------------------------------------------------ 1 800 FLOWERS COM INC DE X 05/06/02 AMEND ACADIA REALTY TRUST MD X X 04/26/02 ACCEPTANCE INSURANCE COMPANIES INC DE X 05/06/02 AEHR TEST SYSTEMS CA X 05/07/02 ALASKA AIR GROUP INC DE X 05/06/02 ALDERWOODS GROUP INC DE X X 05/06/02 AMERICAN BIOGENETIC SCIENCES INC DE X X 05/06/02 AMERICAN ELECTRIC AUTOMOBILE CO INC DE X X X 05/06/02 AMERICAN EXPRESS CO NY X 04/23/02 AMERICAN EXPRESS CREDIT CORP DE X 04/23/02 AMERIQUEST MORTGAGE SECURITIES INC AS DE X X X 04/19/02 ARGONAUT TECHNOLOGIES INC DE X 02/20/02 AMEND AT HOME CORP DE X X 05/01/02 ATPOS COM INC DE X X 04/30/02 B2B INTERNET HOLDRSSM TRUST NY X 03/31/02 BECTON DICKINSON & CO NJ X 05/07/02 BIOMARIN PHARMACEUTICAL INC DE X 03/31/02 BIOTECH HOLDRS TRUST X X 03/31/02 BRITTON & KOONTZ CAPITAL CORP MS X X 04/26/02 BROADBAND HOLDRS TRUST X 03/31/02 CHARLOTTE RUSSE HOLDING INC X X 05/07/02 CITIZENS FIRST BANCORP INC DE X X 05/03/02 CITY HOLDING CO WV X X 04/25/02 CLECO CORP LA X X 05/02/02 COACHMEN INDUSTRIES INC IN X X 05/06/02 COCA COLA ENTERPRISES INC DE X 04/22/02 COLDWATER CREEK INC DE X X 05/06/02 AMEND COLE NATIONAL CORP /DE/ DE X 05/07/02 COLE NATIONAL GROUP INC DE X 05/07/02 COMMUNITY BANKS INC /PA/ PA X 05/07/02 CORRECTIONS CORP OF AMERICA MD X X 05/03/02 CREDIT SUISSE FIRST BOSTON MORTGAGE S DE X X 05/07/02 CUMULUS MEDIA INC IL X X 05/07/02 CWABS INC ASSET BACKED CERTIFICATES S DE X 04/25/02 DAISYTEK INTERNATIONAL CORPORATION /D DE X X 03/31/02 DAW TECHNOLOGIES INC /UT UT X X 04/24/02 DEERE & CO DE X 05/07/02 DIAL CORP /NEW/ DE X X 05/07/02 DIAMOND HILL INVESTMENT GROUP INC OH X X 05/02/02 EARTHNETMEDIA INC NV X X 05/06/02 ELOCITY NETWORKS CORP DE X X 05/03/02 EQCC TRUST 2002-1 NY X 04/25/02 EUROPE 2001 HOLDRS TRUST NY X 03/31/02 EXABYTE CORP /DE/ DE X X 04/23/02 FEDERAL AGRICULTURAL MORTGAGE CORP X X 05/07/02 FINANCIAL ASSET SECURITIES CORP DE X X 04/18/02 FIRSTENERGY CORP OH X X 04/18/02 AMEND FOUNTAIN PHARMACEUTICALS INC DE X X 05/07/02 FREQUENCY ELECTRONICS INC DE X 04/30/02 GASCO ENERGY INC NV X X 05/01/02 GLOBAL BUSINESS SERVICES INC DE X X 02/22/02 AMEND GLOBAL PAYMENTS INC GA X X 05/02/02 GRAFTECH INTERNATIONAL LTD DE X X 05/06/02 GRAFTECH INTERNATIONAL LTD DE X X 05/07/02 GS MORTGAGE SECURITIES CORP DE X 05/03/02 GS MORTGAGE SECURITIES CORP DE X 05/06/02 HEALTHSOUTH CORP DE X X 05/07/02 HEARTLAND TECHNOLOGY INC DE X 04/16/02 HEARTSOFT INC DE X X X 04/26/02 HESKA CORP DE X X 05/07/02 HEWLETT PACKARD CO DE X X 05/03/02 HOME PROPERTIES OF NEW YORK INC MD X 05/03/02 HOUSEHOLD AUTOMOTIVE TRUST 2001-3 X 04/22/02 HOUSEHOLD HOME EQUITY LOAN TRUST 2002 X 04/22/02 IKON OFFICE SOLUTIONS INC OH X X 05/06/02 IMH ASSETS CORP DE X 04/29/02 IMMUNEX CORP /DE/ WA X X 04/12/02 INDYMAC MBS INC RES AS SEC TR 2002-A3 X 04/25/02 INDYMAC MBS INC RESIDENTIAL ASSET SEC X 04/25/02 INTERNATIONAL TRAVEL CD S INC CO X 05/02/02 INTERNET ARCHITECTURE HOLDRSSM TRUST NY X 03/31/02 INTERNET HOLDRS TRUST NY X 03/31/02 INTERNET INFRASTRUCTURE HOLDRSSM TRUS NY X 03/31/02 INVERNESS MEDICAL INNOVATIONS INC DE X 12/20/01 AMEND IOS CAPITAL LLC DE X X 05/06/02 IVILLAGE INC DE X X 05/07/02 KENNAMETAL INC PA X X 05/06/02 KEY PRODUCTION CO INC DE X X 05/06/02 KFX INC DE X X 05/30/02 L90 INC DE X 05/06/02 LABOR READY INC WA X X 05/03/02 LANTRONIX INC DE X X 05/04/02 LENNOX INTERNATIONAL INC DE X 05/02/02 LIBERTY CORP SC X 05/07/02 LIBERTY CORP SC X 05/07/02 MACK CALI REALTY CORP MD X X 05/06/02 MAGNA ENTERTAINMENT CORP DE X X 03/31/02 MARKET 2000 PLUS HOLDRS SM TRUST NY X 03/31/02 MARSHALL & ILSLEY CORP/WI/ WI X X 05/06/02 MAY DEPARTMENT STORES CO DE X 05/06/02 MEDTOX SCIENTIFIC INC DE X 05/07/02 AMEND MELLON FINANCIAL CORP PA X 05/03/02 MERISTAR HOSPITALITY CORP MD X X 05/07/02 MERISTAR HOSPITALITY OPERATING PARTNE DE X X 05/07/02 MERISTAR HOTELS & RESORTS INC DE X X 05/07/02 MERRILL LYNCH & CO INC DE X X 05/07/02 MERRILL LYNCH & CO INC DE X 05/07/02 MERRIMAC INDUSTRIES INC DE X X 04/26/02 AMEND METLIFE INC DE X X 05/07/02 METROMEDIA FIBER NETWORK INC DE X X 04/23/02 MIDWEST GRAIN PRODUCTS INC KS X X 05/07/02 MONEY STORE HOME IMPROVEMENT LOAN BAC X X 04/15/02 MONY GROUP INC DE X X X 05/07/02 MOSSIMO INC DE X X 04/24/02 NAVIDEC INC CO X X 05/06/02 NEBO PRODUCTS INC UT X X 05/07/02 NEOTHERAPEUTICS INC DE X X 05/07/02 NEUBERGER BERMAN INC DE X X 05/06/02 OCWEN FINANCIAL CORP FL X X 05/07/02 OIL SERVICE HOLDRS TRUST NY X 03/31/02 ON SEMICONDUCTOR CORP DE X X 05/06/02 PACIFICORP /OR/ OR X 05/01/02 PARADIGM GENETICS INC X X 05/01/02 PATRIOT TRANSPORTATION HOLDING INC FL X X 05/01/02 PENWEST PHARMACEUTICALS CO WA X X 05/01/02 PEOPLES BANCORP INC OH X 05/07/02 PEPSI BOTTLING GROUP INC DE X X 05/07/02 PEREGRINE SYSTEMS INC DE X X 05/06/02 PHARMACEUTICAL HOLDRS TRUST X X 03/31/02 PHARMACEUTICAL RESOURCES INC NJ X X 05/01/02 PLAINS ALL AMERICAN PIPELINE LP DE X X X 05/07/02 PRACTICEWORKS INC DE X 05/06/02 PRIME HOSPITALITY CORP DE X X 04/16/02 PROMOTIONS COM INC DE X 05/07/02 PROXYMED INC /FT LAUDERDALE/ FL X X 05/06/02 PRUDENTIAL FINANCIAL INC NJ X X 05/07/02 RAB HOLDINGS INC DE X 05/01/02 RADIO ONE INC DE X 05/06/02 RAIKE FINANCIAL GROUP INC/GA GA X X 01/22/02 RCN CORP /DE/ DE X X 05/07/02 REFAC DE X X 04/26/02 REGIONAL BANK HOLDERS SM TRUST NY X 03/31/02 RENAL CARE GROUP INC DE X X 05/07/02 REPUBLIC TECHNOLOGIES INTERNATIONAL H DE X X 04/24/02 RETAIL HOLDRS TRUST NY X 03/31/02 RUBBER TECHNOLOGY INTERNATIONAL INC / NV X 04/30/02 RURAL CELLULAR CORP MN X X 05/06/02 SAFLINK CORP DE X X 05/07/02 SALTON INC DE X X 05/07/02 SANGUINE CORP NV X 03/11/02 AMEND SECURITY INTELLIGENCE TECHNOLOGIES IN FL X 05/02/02 SEMICONDUCTOR HOLDRS TRUST NY X 03/31/02 SIMPLEX SOLUTIONS INC DE X X 04/24/02 SOFTWARE HOLDRS TRUST NY X 03/31/02 SPANTEL COMMUNICATIONS INC FL X 04/02/02 AMEND STAGE STORES INC NV X X 05/07/02 STANDARD MICROSYSTEMS CORP DE X 04/30/02 STANDARD PACIFIC CORP /DE/ DE X X 05/02/02 STARMED GROUP INC AZ X X 03/20/02 AMEND STONERIDGE INC OH X 05/07/02 SUNGARD DATA SYSTEMS INC DE X X 04/26/02 SYNOPSYS INC DE X X 05/06/02 TAIWAN FUND INC DE X 03/01/02 TEAM MUCHO INC OH X X 04/17/02 AMEND TEDA TECHNOLOGIES INTERNATIONAL INC NV X 01/11/02 AMEND TELECOM HOLDRS TRUST NY X X 03/31/02 TOUCH AMERICA HOLDINGS INC X X 05/06/02 TRANSFINANCIAL HOLDINGS INC DE X 04/19/02 TRANSMATION INC OH X 05/06/02 TRINITY ENERGY RESOURCES INC X X 04/27/01 AMEND U S REALTEL INC DE X 02/21/02 AMEND UNITED COMMUNITY BANKS INC GA X 05/07/02 UNITRIN INC DE X 05/07/02 UNUMPROVIDENT CORP DE X 05/07/02 UTILITIES HOLDERS SM TRUST NY X 03/31/02 VENDINGDATA CORP NV X 04/25/02 VITRO DIAGNOSTICS INC NV X X 04/23/02 WELLS FARGO ASSET SECURITIES CORP MOR DE X X 01/25/02 WELLS FARGO MORTGAGE BACKED SECURITIE NY X X 01/25/02 WELLS REAL ESTATE INVESTMENT TRUST IN MD X 03/28/02 AMEND WILMINGTON REXFORD INC DE X 05/01/02 WIRELESS HOLDRS TRUST NY X 03/31/02 XCEL ENERGY INC MN X X 05/07/02 ZEROS & ONES INC NV X X 04/30/02 -[1]- This rule provides an exemption from Section 12(g) of the Exchange Act for foreign private issuers that have not chosen to access the U.S. capital markets. One condition to obtaining the exemption is that an applicant must furnish to the Commission on an ongoing basis its securities documents required to be furnished or that it furnishes voluntarily in its home country.