SEC NEWS DIGEST Issue 2002-23 February 4, 2002 ENFORCEMENT PROCEEDINGS SEC ISSUES ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS IN AN ADMINISTRATIVE PROCEEDING AGAINST BERNADETTE STEVENS a/k/a BERNADETTE STEVENS BELL On February 1, the Commission issued an Order Making Finding of 1934 (Order) against Bernadette Stevens (Stevens) a/k/a Bernadette Stevens Bell of Broward County, Florida. The Order directed that Stevens be barred from association with any broker or dealer. In the Order, the Commission made findings that it previously filed a civil injunctive action entitled SEC v. David Morgenstern, Fred Morgenstern, Bernadette Stevens and Amquest International, Ltd., Case No. 98-7044-CIV- Seitz/Garber (S.D.Fla.) against Stevens in September 1998, alleging violations of the federal securities laws. The Commission further found, among other things, that Stevens was enjoined from future violations by a judgment issued in January 2001. Stevens had tendered an Offer of Settlement in which she admitted the jurisdiction of the Commission over her, and further admitted the allegations contained in the Order Instituting Proceedings. The Commission accepted her Offer of Settlement. (Rel. 34-45380; File No. 3-10645) GARRI ZHIGUN BARRED FROM ASSOCIATION WITH ANY BROKER OR DEALER On February 1, the Commission entered an Order Instituting Public Administrative Proceedings Pursuant To Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions (Order) against Garri Zhigun (Zhigun). The Order bars Zhigun from association with any broker or dealer. Zhigun neither admitted nor denied the findings in the Order, except as to his previous association with broker-dealers registered with the Commission, jurisdiction, and the filing of the Commission's Complaint and entry of an Order of Permanent Injunction against him, which were admitted. The Order alleges that during the period October 1996 through April 1999, Zhigun was a registered representative associated with various broker-dealers registered with the Commission, including, from June 1997 to November 1997, W.J. Nolan & Company, Inc. (Nolan). On August 2, 1999, the Commission filed a Complaint in the United States District Court for the Northern District of Illinois against Zhigun and others captioned SEC v. Kfir Barzilay, et al., No. 99 C 5023. The Commission's Complaint alleges that from about June through November of 1997, Zhigun was a registered representative associated with the Park Avenue office of Nolan. The Complaint alleges that, during this period, among other things, Zhigun engaged in fraudulent sales practices in the accounts of at least nine customers. On December 6, 2001, in SEC v. Barzilay, the Honorable Ronald Guzman entered an Order of Permanent Injunction enjoining Zhigun from violating Sections 17(a) of the Securities Act of 1933 (Securities Act), Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder, and Section 17(a) of the Exchange Act and Rule 17a-3 promulgated thereunder. Zhigun, without admitting or denying the allegations in the Complaint, consented to the entry of the Order of Permanent Injunction. (Rel. 34-45381; File No. 3-10692) INVESTMENT COMPANY ACT RELEASES COMMONFUND INSTITUTIONAL FUNDS, ET AL. A notice has been issued giving interested persons until February 26 to request a hearing on an application filed by Commonfund Institutional Funds and Commonfund Asset Management Company, Inc. for an order exempting applicants from Sections 12(d)(1)(A) and (B) of the Investment Company Act and Section 17(a) of the Act, and permitting certain joint transactions under Section 17(d) of the Act and Rule 17d-1 under the Act. The order would permit certain registered open-end management investment companies to invest uninvested cash and cash collateral in affiliated money market funds and/or short-term bond funds. (Rel. IC- 25407 - February 1) HOLDING COMPANY ACT RELEASES AMEREN CORPORATION, ET AL. A notice has been issued giving interested persons until February 26 to request a hearing on a proposal by Ameren Corporation (Ameren), a registered holding company, and its direct and indirect wholly owned nonutility subsidiaries, Union Electric Development Corporation (UEDC) and CIPSCO Investment Company (CIC). Ameren, through UEDC and CIC, or one or more other nonutility subsidiaries requests authority to invest up to $125 million in total through December 31, 2006 in existing or new low income housing projects, historic building or other qualified rehabilitated building projects, and/or "brownfield" remediation projects that qualify or are expected to qualify for Federal and/or State tax credits. (Rel. 35-27491) DUKE ENERGY CORP. A notice has been issued giving interested persons until February 26 to request a hearing on a proposal by Duke Energy Corp. (Duke), an electric utility company and a public-utility company, under Sections 2(a)(3) and 2(a)(5) of the Act, respectively, to acquire Westcoast Energy, Inc. (Westcoast), a Canadian corporation. Westcoast's holdings include three public-utility subsidiaries (collectively, Non-U.S. Utilities): (1) Union Gas Limited, a wholly-owned, direct subsidiary of Westcoast engaged in the transportation and storage of natural gas and the distribution of natural gas to residential, commercial and industrial customers in Ontario, Canada; (2) Pacific Northern Gas Ltd., a 40.04%- owned, direct subsidiary of Westcoast, engaged in the transportation of natural gas and the distribution of natural gas to residential, commercial, and industrial customers in British Columbia, Canada; and (3) P.T. Puncakjaya Power, a 42.86%-owned indirect subsidiary of Westcoast engaged in the generation and sale of electric power to industrial customers in Irian Jaya, Indonesia. Duke requests an unqualified exemption for the Non-U.S. Utilities under section 3(b) of the Act. Duke and its intermediate subsidiaries that hold interests in the Non-U.S. Utilities intend to rely on Rules 10(a)(1) and 11(b)(1) to provide exemptions under the Act. (Rel. 35-27491) SELF-REGULATORY ORGANIZATIONS IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGES A proposed rule change, as amended by Amendment No. 2 thereto, filed by the American Stock Exchange (SR-AMEX-2002-03) extending its participation in the Interim Intermarket Linkage Program has become immediately 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 February 4. (Rel. 34-45373) A proposed rule change filed by the Pacific Exchange (SR-PCX-2002-06) extending its participation in the Interim Intermarket Linkage Program has become immediately 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 February 4. (Rel. 34-45374) A proposed rule change filed by the Philadelphia Stock Exchange to conform the Phlx's fee schedule to Congress' amendment of Section 31 of the Securities Exchange Act of 1934 (SR-PHLX-2002-02) 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 February 4. (Rel. 34-45383) PROPOSED RULE CHANGE A proposed rule change has been filed by the National Association of Securities Dealers, through its wholly owned subsidiary, NASD Regulation, Inc. (SR-NASD-2002-05) under Section 19(b)(1) of the Securities Exchange Act of 1934 revising Forms U-4 and U-5. Publication of the proposal is expected in the Federal Register during the week of February 4. (Rel. 34-45385) APPROVAL OF PROPOSED RULE CHANGES The Commission approved a proposed rule change filed by the Government Securities Clearing Corporation (SR-GSCC-2001-14) to amend GSCC's rules to limit its liability with respect to affiliated entities. Publication of the proposal is expected in the Federal Register during the week of February 4. (Rel. 34-45357) The Commission approved proposed rule changes submitted by the National Association of Securities Dealers, through its subsidiary The Nasdaq Stock Market, Inc. (SR-NASD-2001-64; SR-NASD-2001-68) adjusting the fees charged to non-members for the use of the Nasdaq National Market Execution System and the SelectNet Service. Publication of the proposal is expected in the Federal Register during the week of February 4. (Rel. 34-45379) 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-8 AUTONATION INC /FL, 110 SE 6TH ST, FT LAUDERDALE, FL, 33301, 9547696000 - 2,215,686 ($26,809,800.00) Equity, (File 333-81888 - Feb. 1) (BR. 02) S-8 SILVERADO GOLD MINES LTD, 1111 WEST GEORGIA ST, SUITE 505, VANCOUVER, A1, 6046891535 - 3,300,000 ($330,000.00) Equity, (File 333-81896 - Feb. 1) (BR. 04) S-4 COMMUNITY BANKSHARES INC /SC/, P O BOX 2086, ORANGEBURG, SC, 29116-2086, 8035351060 - 1,000,000 ($4,597,286.00) Equity, (File 333-81900 - Feb. 1) (BR. 07) S-8 I A EUROPE INC, 40 WALL STREET-20TH FLOOR, NEW YORK, NY, 10005, 842,000 ($312,400.00) Equity, (File 333-81912 - Feb. 1) (BR. 09) S-8 SIRIUS SATELLITE RADIO INC, 1221 AVENUE OF THE AMERICAS, 36TH FLOOR, NEW YORK, NY, 10020, 2128995000 - 100,000 ($673,000.00) Equity, (File 333-81914 - Feb. 1) (BR. 37) S-8 HOME FEDERAL BANCORP, 222 W SECOND ST, PO BOX 648, SEYMOUR, IN, 47274-0648, 8125221592 - 425,000 ($8,143,000.00) Equity, (File 333-81916 - Feb. 1) (BR. 07) S-8 DIGITAL WORLD CUP INC, 3266 YONGE STREET STE 1208, BC, TORONTO ONTARIO CANA, A6, 00000, 3,000,000 ($720,000.00) Equity, (File 333-81918 - Feb. 1) (BR. 08) S-8 ADAIR INTERNATIONAL OIL & GAS INC, 3000 RICHMOND AVENUE, SUITE 100, HOUSTON, TX, 77098, 7136218341 - 0 ($460,000.00) Equity, (File 333-81920 - Feb. 1) (BR. 04) SB-2 NATIONAL PIZZA CORP, 759 CEDAR FIELD COURT, TOWN & COUNTRY, MO, 63017, 3139911192 - 2,319,000 ($231,900.00) Equity, (File 333-81922 - Feb. 1) (BR. ) SB-2 INNOVATIVE HOLDINGS & TECHNOLOGIES INC, 100 SOUTH ORANGE AVENUE, SUITE 100, ORLANDO, FL, 32801, 4074818900 - 25,607,500 ($1,722,525.00) Debt Convertible into Equity, (File 333-81924 - Feb. 1) (BR. 09) S-8 ACTEL CORP, 955 EAST ARQUES AVE, SUNNYVALE, CA, 94086, 4087391010 - 2,857,905 ($58,930,001.10) Equity, (File 333-81926 - Feb. 1) (BR. 36) S-4 US UNWIRED INC, CM TOWER SUITE 1900, ONE LAKESHORE DRIVE, LAKE CHARLES, LA, 70629, 3184369000 - 0 ($83,065,000.00) Equity, (File 333-81928 - Feb. 1) (BR. 37) S-8 UNIVERSAL SECURITY INSTRUMENTS INC, 7-A GWYNNS MILL COURT, OWINGS MILLS, MD, 21117-3586, 4103633000 - 250,000 ($625,000.00) Equity, (File 333-81930 - Feb. 1) (BR. 36) S-8 COMMONWEALTH BANKSHARES INC, 403 BOUSH ST, NORFOLK, VA, 23510, 8044466900 - 0 ($1,500,000.00) Other, (File 333-81932 - Feb. 1) (BR. 07) S-8 USURF AMERICA INC, 8748 QUARTERS LAKE RD, BATON ROUGE, LA, 70809, 2259227744 - 500,000 ($75,000.00) Equity, (File 333-81934 - Feb. 1) (BR. 37) S-3 TYLER INTERNATIONAL FUNDING INC, 2 REID ST, 3RD FL STE 287, HAMILTON BERMUDA HM 11, C5, 99999999, 0 ($1,000,000.00) Asset-Backed Securities, (File 333-81936 - Feb. 1) (BR. ) S-8 GRUBB & ELLIS CO, 2215 SANDERS RD, STE 400, NORTHBROOK, IL, 60062, 4159561990 - 1,000,000 ($2,950,000.00) Equity, (File 333-81938 - Feb. 1) (BR. 08) S-3 DUKE ENERGY CORP, 526 SOUTH CHURCH STREET, CHARLOTTE, NC, 28201-1006, 7045946200 - 33,000,000 ($1,122,660,000.00) Equity, (File 333-81940 - Feb. 1) (BR. 02) SB-2 STAR COMPUTING LTD, 16400 PACIFIC COAST HIGHWAY, P O BOX 100, SUNSET BEACH, CA, 90742, 0 ($150,000.00) Equity, (File 333-81942 - Feb. 1) (BR. ) S-8 2DOBIZ COM INCICES INC, 122-1020 MAINLAND ST, VANCOUVER BC, V6B 2T4, A1, 85710, 6046873895 - 1,895,000 ($814,850.00) Equity, (File 333-81944 - Feb. 1) (BR. 09) S-4 DAKOTA GROWERS RESTRUCTURING CO INC, ONE PASTA AVENUE, CARRINGTON, ND, 5842121, 7016522855 - 0 ($58,202,597.00) Equity, (File 333-81946 - Feb. 1) (BR. ) SB-2 AMANTE CORP, 14 PICO CRESCENT, THORNHILL, ONTARIO, A6, 00000, 9057310189 - 2,000,000 ($1,000,000.00) Equity, (File 333-81948 - Feb. 1) (BR. ) S-8 MRV COMMUNICATIONS INC, 20415 NORDHOFF ST, CHATSWORTH, CA, 91311, 8187730900 - 3,268,581 ($54,617,988.50) Equity, (File 333-81950 - Feb. 1) (BR. 36) S-8 BMC INDUSTRIES INC/MN/, ONE MERIDIAN CROSSING, SUITE 850, MINNEAPOLIS, MN, 55423, 6128516000 - 0 ($777,322.00) Equity, (File 333-81952 - Feb. 1) (BR. 06) S-8 MRV COMMUNICATIONS INC, 20415 NORDHOFF ST, CHATSWORTH, CA, 91311, 8187730900 - 0 ($1,562,139.00) Equity, (File 333-81954 - Feb. 1) (BR. 36) S-8 MRV COMMUNICATIONS INC, 20415 NORDHOFF ST, CHATSWORTH, CA, 91311, 8187730900 - 0 ($6,698,000.00) Equity, (File 333-81956 - Feb. 1) (BR. 36) S-8 MRV COMMUNICATIONS INC, 20415 NORDHOFF ST, CHATSWORTH, CA, 91311, 8187730900 - 1,547,420 ($6,096,834.79) Equity, (File 333-81958 - Feb. 1) (BR. 36) S-4 FINANCIAL INSTITUTIONS INC, 220 LIBERTY STREET, WARSAW, NY, 14569, 7167861100 - 75,000 ($1,838,500.00) Equity, (File 333-81960 - Feb. 1) (BR. 07) S-8 ON SITE SOURCING INC, 1111 NORTH 19TH ST, STE 600, ARLINGTON, VA, 22209, 7032761123 - 0 ($698,460.00) Equity, (File 333-81962 - Feb. 1) (BR. 08) S-3 LADENBURG THALMANN FINANCIAL SERVICES INC, 590 MADISON AVENUE 34TH FLOOR, NEW YORK, NY, 10022, 5164701000 - 5,940,506 ($4,395,974.44) Equity, (File 333-81964 - Feb. 1) (BR. 07) S-3 EDGAR ONLINE INC, 50 WASHINGTON ST, NORWALK, CT, 06854, 2038525666 - 0 ($15,235,031.00) Equity, (File 333-81966 - Feb. 1) (BR. 08) S-3 REGAL BELOIT CORP, 200 STATE ST, BELOIT, WI, 53511, 6083648800 - 3,450,000 ($76,728,000.00) Equity, (File 333-81968 - Feb. 1) (BR. 36) S-4 INGLES MARKETS INC, PO BOX 6676, ASHEVILLE, NC, 28816, 7046692941 - 0 ($250,000,000.00) Non-Convertible Debt, (File 333-81972 - Feb. 1) (BR. 02) S-8 COMPOSITE INDUSTRIES OF AMERICA INC, 4505 W HACIENDA AVE, UNIT I 1, LAS VEGAS, NV, 89118, 7025794888 - 389,900 ($140,364.00) Equity, (File 333-81974 - Feb. 1) (BR. 06) S-4 VICAR OPERATING INC, 12401 WEST OLYMPIC BLVD, LOS ANGELES, CA, 900641022, 3105716600 - 170,000,000 ($170,000,000.00) Non-Convertible Debt, (File 333-81976 - Feb. 1) (BR. ) S-8 PINNACLE SYSTEMS INC, 280 N BERNARDO AVE, MOUNTAIN VIEW, CA, 94043, 6502371600 - 0 ($5,538,000.00) Equity, (File 333-81978 - Feb. 1) (BR. 36) S-3 BANKNORTH GROUP INC/ME, ONE PORTLAND SQ, P O BOX 9540, PORTLAND, ME, 04112, 2077618500 - 1,000,000,000 ($1,000,000,000.00) Other, (File 333-81980 - Feb. 1) (BR. 07) S-3 AETRIUM INC, 2350 HELEN ST, NORTH ST PAUL, MN, 55109, 6127041800 - 0 ($609,766.30) Equity, (File 333-81982 - Feb. 1) (BR. 36) S-3D WILSON BANK HOLDING CO, 623 W MAIN STREET, P.O. BOX 768, LEBANON, TN, 37087, 6154442265 - 0 ($23,700,000.00) Equity, (File 333-81984 - Feb. 1) (BR. 07) S-8 DATA I/O CORP, 10525 WILLOWS RD NE, P O BOX 97046, REDMOND, WA, 98073-9746, 4258676922 - 300,000 ($547,650.00) Equity, (File 333-81986 - Feb. 1) (BR. 36) SB-2 CPW CAPITAL CORP, 14 PICO CRESCENT, THORNHILL, ONTARIO, A6, 00000, 9057310189 - 2,000,000 ($1,000,000.00) Equity, (File 333-81988 - Feb. 1) (BR. ) SB-2 BELLWEATHER CORP, 14 PICO CRESCENT, THORNHILL, ONTARIO, A6, 00000, 9057310189 - 2,000,000 ($1,000,000.00) Equity, (File 333-81990 - Feb. 1) (BR. ) SB-2 MNWBSC INVESTMENT CORP, 14 PICO CRESCENT, THORNHILL, ONTARIO, A6, 00000, 9057310189 - 2,000,000 ($1,000,000.00) Equity, (File 333-81994 - Feb. 1) (BR. ) SB-2 LEONHARDT CORP, 14 PICO CRESCENT, THORNHILL, ONTARIO, A6, 00000, 9057310189 - 2,000,000 ($1,000,000.00) Equity, (File 333-81996 - Feb. 1) (BR. ) SB-2 QUOTIDIEN CORP, 14 PICO CRESCENT, THORNHILL, ONTARIO, A6, 00000, 9057310189 - 2,000,000 ($1,000,000.00) Equity, (File 333-81998 - Feb. 1) (BR. ) SB-2 CREIGHTON CORP, 14 PICO CRESCENT, THORNHILL, ONTARIO, A6, 00000, 9057310189 - 2,000,000 ($1,000,000.00) Equity, (File 333-82000 - Feb. 1) (BR. ) S-8 PHARMACIA CORP /DE/, 100 ROUTE 206 NORTH, PEAPACK, NJ, 07977, 9089018000 - 55,000,000 ($2,174,700,000.00) Equity, (File 333-82002 - Feb. 1) (BR. 02) SB-2 NEW ODEON CORP, 14 PICO CRESCENT, THORNHILL, ONTARIO, A6, 00000, 9057310189 - 2,000,000 ($1,000,000.00) Equity, (File 333-82004 - Feb. 1) (BR. ) S-8 TORVEC INC, 11 POND VIEW DRIVE, PITTSFORD, NY, 14534, 7162488549 - 800,000 ($1,120,000.00) Equity, (File 333-82006 - Feb. 1) (BR. 05) S-3 CHICAGO PIZZA & BREWERY INC, 16162 BEACH BOULEVARD, SUITE 100, HUNTINGTON BEACH, CA, 92647, 7148483747 - 0 ($988,000.00) Equity, (File 333-82008 - Feb. 1) (BR. 05) S-3 ATLANTIC TECHNOLOGY VENTURES INC, 1017 MAIN CAMPUS DRIVE, SUITE 3900, RALEIGH, NC, 27606, 9195137020 - 17,569,967 ($4,656,041.26) Equity, (File 333-82010 - Feb. 1) (BR. 01) S-8 ZYMOGENETICS INC, 1201 EASTLAKE AVENUE E, SEATTLE, WA, 98102, 206-442-6600 - 0 ($168,049,289.45) Equity, (File 333-82012 - Feb. 1) (BR. 01) S-4 WESTERN MULTIPLEX CORP, 1196 BORREGAS AVE, SUNNYVALE, CA, 94089, 4085425200 - 65,952,467 ($201,738,601.00) Equity, (File 333-82014 - Feb. 1) (BR. 07) S-3 COMPUTERIZED THERMAL IMAGING INC, 476 HERITAGE PARK BLVD SUITE 210, LAYTON, UT, 84041, 8017764700 - 18,444,325 ($22,133,190.00) Equity, (File 333-82016 - Feb. 1) (BR. 05)