UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest to institute public administrative proceedings pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 ("Exchange Act") against Marc B. Nogid ("Nogid").
In anticipation of the institution of these administrative proceedings, Nogid has submitted an Offer of Settlement that 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 and the subject matter of the proceeding, which are admitted, Nogid consents to the entry of this Order Instituting Public Administrative Proceedings Pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934, Making Findings, and Imposing Sanctions ("Order").
Accordingly, it is ordered that proceedings pursuant to Section 15(b)(6) of the Exchange Act be, and hereby are, instituted.
The Commission makes the following findings:1
Marc B. Nogid, age 31, was associated with various broker-dealers registered with the Commission pursuant to Section 15(b) of the Exchange Act, including Hampshire Securities Corporation.
On October 3, 2000 the Commission filed a Complaint against Nogid in SEC v. Nogid, Civil Action No. 00-Civ-7460 (S.D.N.Y.). On October 10, 2000, the United States Court District Court for the Southern District of New York filed a Judgment as to Defendant Marc B. Nogid ("Judgment") permanently enjoining Nogid from violating Sections 7(c), 10(b), and 14(e) of the Exchange Act and Regulation T and Rules 10b-5 and 14e-3 thereunder. Nogid consented to the entry of the Judgment without admitting or denying the allegations in the Complaint. The Complaint alleged that Nogid engaged in insider trading and tipped others while he was in possession of material nonpublic information concerning the securities of four publicly traded companies. The Complaint alleged that Nogid and his relatives realized illegal profits of $12,151, and his tippees' illegal profits total $150,510. The Complaint also alleged that one of Nogid's customers, with Nogid's knowledge and consent, engaged in a free-riding scheme.
In view of the foregoing, the Commission deems it appropriate and in the public interest to accept Nogid's Offer of Settlement.
Accordingly, IT IS HEREBY ORDERED that Nogid is barred from association with any broker or dealer.By the Commission.
Jonathan G. Katz
1 The findings herein are made pursuant to the Respondents' Offers of Settlement and are not binding on any other person or entity in this or any other proceeding.