[Federal Register Volume 68, Number 210 (Thursday, October 30, 2003)]
[Notices]
[Pages 61841-61842]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-27343]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of Totta & Acores 
Financing, Ltd. To Withdraw Its 8.875% Non-Cumulative Guaranteed 
Preference Shares, Series A, $25.00 par value, From Listing and 
Registration on the New York Stock Exchange, Inc. File No. 1-14520

October 24, 2003.
    Totta & Acores Financial, Ltd., a Cayman Islands corporation 
(``Issuer''), has filed an application with the Securities and Exchange 
Commission (``Commission''), pursuant to Section 12(d) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 12d2-2(d) 
thereunder,\2\ to withdraw its 8.875% Non-Cumulative Guaranteed 
Preference Shares, Series A, $25.00 par value, (``Security''), from 
listing and registration on the New York Stock Exchange, Inc. (``NYSE'' 
or ``Exchange'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    The Issuer stated in its application that it has complied with all 
applicable laws in effect in the jurisdiction of Cayman Islands, in 
which it is incorporated, and with the NYSE's rules governing an 
issuer's voluntary withdrawal of a security from listing and 
registration. The Issuer stated in its application that it has met the 
requirements of the NYSE rules governing an issuer's voluntary 
withdrawal of a security from listing and registration.
    The Board of Directors (``Board'') of the Issuer approved a 
resolution on May 13, 2003 to withdraw the Issuer's Security from 
listing on the NYSE. The

[[Page 61842]]

Board stated that following reasons factored into its decision to 
withdraw the Issuer's Security from the Exchange: the limited trading 
volume; the direct and indirect administrative costs involved with 
continued NYSE listing and the compliance with its new listing 
requirements; the continuing and ever increasing administrative cost 
and expenses associated with the preparation and filing of the reports 
required by the Commission. The Issuer stated that Security commenced 
trading on the Cayman Island Stock Exchange on September 2, 2003.
    The Issuer's application relates solely to the Security's 
withdrawal from listing on the NYSE and from registration under section 
12(b) of the Act \3\ and shall not affect its obligation to be 
registered under section 12(g) of the Act.\4\
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    \3\ 15 U.S.C. 78l(b).
    \4\ 15 U.S.C. 78l(g).
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    Any interested person may, on or before November 14, 2003, submit 
by letter to the Secretary of the Securities and Exchange Commission, 
450 Fifth Street, NW., Washington, DC 20549-0609, facts bearing upon 
whether the application has been made in accordance with the rules of 
the NYSE and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\5\
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    \5\ 17 CFR 200.30-3(a)(1).
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Jonathan G. Katz,
Secretary.
[FR Doc. 03-27343 Filed 10-29-03; 8:45 am]
BILLING CODE 8010-01-P