Securities Exchange Act of 1934
Release No. 45208 / December 28, 2001
File No. 3-10662
W.J. NOLAN & COMPANY, INC.
The Securities and Exchange Commission announced that on December 28, 2001, the Commission issued an Order Instituting Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 15b6-1(b) promulgated thereunder against W.J. Nolan & Company, Inc. to suspend the effective date of W.J. Nolan's Form BDW filed on October 31, 2001.
In the Order, the Division of Enforcement alleges that on September 24, 2001 the Commission issued an Order against W.J. Nolan pursuant to its consent and without admitting or denying findings that the firm willfully violated Sections 15(b)(7) and 15(g) of the Exchange Act and Rules 15b7-1, 15g-2, 15g-3 and 15g-6 thereunder, and failed reasonably to supervise. The September 24th Order required, among other things, that W.J. Nolan pay disgorgement of $153,218.12 plus prejudgment interest of $38,810.17.
The Division of Enforcement goes on to allege that W.J. Nolan filed a Form BDW with the Commission on October 31, 2001 seeking to withdraw its registration with the Commission. The Division of Enforcement further alleges that W.J. Nolan has not paid the disgorgement and prejudgment interest as required by the Commission's September 24th Order.
The Order institutes public administrative proceedings to determine whether to delay the effective date of W.J. Nolan's withdrawal from registration with the Commission or to impose terms and conditions upon such a withdrawal.