Securities Act of 1933
Release No. 8500 / October 29, 2004

Securities Exchange Act of 1934
Release No. 50609 / October 29, 2004

Admin. Proc. File No. 3-10229


In the Matter of

Salvatore Piazza, James S. Labate, William F. Palla, Emmanuel Gennusso, Cary F. Cimino, Todd M. Nejaime, Kevin P. Radigan, Robert Gallo, Robert J. Dacunto, Michael P. Dacunto, Joseph P. Meduri, Vincent A. Padulo, Jr., Vito G. Padulo, John Bruzzese, Salvatore F. Ruggiero, Patrick Giglio, Irving Stitsky, Paul L. Burton, Marc I. Burton, Kenneth J. Fuina, Marc L. Weissman, Anthony P. Dinota, Jr., Facundo Ponce, Chester L. Chicosky, Lawrence M. Choiniere, William P. Burke, Michael Caso, John Catalano, Jr., George Bisnoff, Damien Douglas, Craig P. McGuinn, II and Mark Danieli,

Respondent.



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ORDER MAKING FINDINGS, IMPOSING REMEDIAL SANCTIONS, AND IMPOSING A CEASE-AND-DESIST ORDER PURSUANT TO SECTION 8A OF THE SECURITIES ACT OF 1933 AND SECTIONS 15(b)(6) AND 21C OF THE SECURITIES EXCHANGE ACT OF 1934 AS TO WILLIAM F. PALLA

I.

On June 14, 2000, the Securities and Exchange Commission ("Commission") entered an Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 ("Securities Act") and Sections 15(b)(6) and 21C of the Securities Exchange Act of 1934 ("Exchange Act") ("Initial Order") against Respondent William Palla ("Palla").

II.

Palla has submitted an Offer of Settlement of William F. Palla ("Offer") to these administrative proceedings, which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission's jurisdiction over him, the subject matter of these proceedings, and paragraphs III. A and D, which are admitted, Palla consents to the entry of this Order Making Findings, Imposing Remedial Sanctions, and Imposing a Cease-and-Desist Order Pursuant to Section 8A of the Securities Act and Sections 15(b)(6) and 21C of the Securities Exchange Act of 1934 ("Order"), as set forth below.

III.

On the basis of this Order and Palla's Offer, the Commission finds that:

A. Palla, age 52, resides in Haverford, Pennsylvania. From August 1992 through September 1996, Palla was a registered principal of Monitor Investment Group, Inc. ("Monitor").

B. Palla participated in the public offerings of Beachport Entertainment Corporation ("Beachport") and International Nursing Services, Inc. ("International Nursing") stock, which at all relevant times were penny stocks.

C. From in or about the Summer of 1995 through the Fall of 1995, Palla took part in a conspiracy to manipulate the price of International Nursing and Beachport stock. As part of the scheme, registered representatives ("RRs") at Monitor received bribes for recommending Beachport and International Nursing stock to their retail clients. Palla did not disclose, or require the RRs to disclose, the bribes to the retail customers who purchased the stock.

D. By participating in a scheme to manipulate the price of Beachport and International Nursing stock, Palla willfully violated Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.

IV.

In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions agreed to in Palla's Offer.

Accordingly, it is hereby ORDERED that:

1. Pursuant to Section 8A of the Securities Act and Section 21C of the Exchange Act, Palla cease and desist from committing or causing any violations and any future violations of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder.

2. Pursuant to Section 15(b)(6) of the Exchange Act, Palla be, and hereby is, barred from association with any broker or dealer.

Any reapplication for association by Palla will be subject to the applicable laws and regulations governing the reentry process, and reentry may be conditioned upon a number of factors, including, but not limited to, the satisfaction of any or all of the following: (a) any disgorgement ordered against Palla, whether or not the Commission has fully or partially waived payment of such disgorgement; (b) any arbitration award related to the conduct that served as the basis for the Commission order; (c) any self-regulatory organization arbitration award to a customer, whether or not related to the conduct that served as the basis for the Commission order; and (d) any restitution order by a self-regulatory organization, whether or not related to the conduct that served as the basis for the Commission order.

3. Palla be, and hereby is, barred from participating in any offering of penny stock, including: acting as a promoter, finder, consultant, agent, or other person who engages in activities with a broker, dealer or issuer for purposes of the issuance or trading in any penny stock; or inducing or attempting to induce the purchase or sale of any penny stock.

For the Commission, by its Secretary, pursuant to delegated authority.

Jonathan G. Katz
Secretary