World Associates, Inc., Exchange Act Rel. 59034, December 1, 2008
The Commission brought proceedings under Exchange Act Section 12(j) against World Associates due to delinquent periodic Exchange Act filings. Shortly after that the company filed to voluntarily deregister its securities claiming that it had less than 500 shareholders and total assets of less than $10 million in its last three fiscal years. Since the deregistration became automatically effective the Division of Enforcement moved to dismiss the case. Since revocation or suspension of registration is the only statutory remedy no purpose would be served by continuing the case and the Division's motion was granted.