Paul E. Colontino

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 44359 / May 29, 2001

ADMINISTRATIVE PROCEEDING
File No. 3-10495

I.

The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that a public administrative proceeding be, and hereby is, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Paul E. Colontino ("Colontino").

II.

In anticipation of the institution of these proceedings, Colontino has submitted an Offer of Settlement ("Offer") that the Commission has determined to accept. Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the Commission's findings contained herein, except as to the jurisdiction of the Commission over him and over the subject matter of this proceeding, and the fact of his criminal conviction set forth in paragraph III.2 below, which are admitted, Colontino consents to the entry of this Order Pursuant to Section 15(b) of the Securities and Exchange Act of 1934 Instituting Proceedings, Making Findings and Imposing Remedial Sanctions ("Order").

III.

FINDINGS

On the basis of this Order and the Offer submitted by Colontino, the Commission finds that:¹

1. Colontino, age 31, was a registered representative from July 1993 to August 1996 at A.S. Goldmen & Co. Inc. ("A.S. Goldmen"), a broker-dealer registered with the Commission. From August 1996 to June 1997 Colontino was a registered representative at Meyers Pollock Robbins, Inc., a broker-dealer registered with the Commission. Colontino is a resident of New York.

2. On May 12, 2000, Colontino was criminally convicted of the crime of Enterprise Corruption, a Class B felony under New York Penal Law §460.20, upon the entry of his plea of guilty by the Supreme Court of the State of New York. Colontino was sentenced to an indeterminate sentence of imprisonment of one to three years.

3. According to the plea allocution upon which the criminal conviction was based, Colontino, acting as a registered representative of A.S. Goldmen, and others, directly or through accomplices acting at their direction and control, engaged in a pattern of criminal activity that included: (1) misrepresenting the nature and value of certain securities that he sold to investors; (2) misrepresenting and failing to disclose his use of nominee and controlled accounts in certain initial public offerings; (3) refusing to execute or otherwise interfering with the execution of customer sell orders; and (4) engaging in unauthorized trades of securities.

IV.

Based on the foregoing, the Commission deems it appropriate and in the public interest to accept Colontino's Offer and to impose the sanctions that are set forth in the Offer.

Accordingly, pursuant to Section 15(b) of the Exchange Act, IT IS HEREBY ORDERED that Colontino be, and hereby is, barred from association with any broker or dealer.

By the Commission.

___________________________
Jonathan G. Katz
Secretary

Footnotes

¹ The findings of the Order are not binding on any other person or entity in this or any other proceeding.