# UNITED STATES OF AMERICA

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URL: https://www.frixlaw.com/law-library/documents/agency%3Asec%3A3a138d187f757389

## Record

- **Collection:** Agency decision
- **Document type:** Agency decision

## Text

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 88919 / May 21, 2020
ADMINISTRATIVE PROCEEDING
File No. 3-18527

In the Matter of
deVere USA, Inc.
Respondent.

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ORDER EXTENDING TIME TO
ENTER AN ORDER APPROVING OR
DISAPPROVING PLAN OF
DISTRIBUTION

On March 23, 2020, pursuant to Rule 1103 of the United States Securities and Exchange
Commission’s Rules on Fair Fund and Disgorgement Plans (the “Commission’s Rules”), 17
C.F.R.§ 201.1103, the Commission published a Notice of Proposed Plan of Distribution and
Opportunity to Comment (“Notice”)1 for the distribution of monies placed into a Fair Fund in the
above-captioned matter. The Notice invited public comment on the proposed plan of distribution
(“Plan”) through April 22, 2020, and the Commission received public comments that raised
various issues (the “Comments”).
Rule 1104 of the Commission’s Rules, 17 C.F.R. § 201.1104, provides in relevant part,
“[t]he order approving or disapproving the plan should be entered within 30 days after the end of
the final period allowed for comments on the proposed plan unless the Commission or the
hearing officer, by written order, allows a longer period for good cause shown.”
Thirty (30) days from the end of the final period for comments on the Plan will lapse on

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Exchange Act Rel. No. 88452 (Mar. 23, 2020).

May 22, 2020. The Division requests additional time to present its recommendation to the
Commission regarding the Comments and the Plan and has demonstrated good cause to extend
the thirty (30) day time period, provided in Rule 1104 of the Commission’s Rules, with entry of
an order extending time to approve or disapprove the Plan until July 31, 2020.
Accordingly, IT IS ORDERED that pursuant to Rule 1104 of the Commission’s Rules,2
for good cause shown, the time for entering an order approving or disapproving the Plan is
extended to July 31, 2020.
For the Commission, by its Secretary, pursuant to delegated authority.

Vanessa A. Countryman
Secretary

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17 C.F.R. § 201.1104.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Asec%3A3a138d187f757389. Public record. Not legal advice.