United States of America
In the Matter of
|ORDER INSTITUTING PROCEEDINGS, MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934 AND SECTION 203(f) OF THE INVESTMENT ADVISERS ACT OF 1940|
The Securities and Exchange Commission ("Commission") deems it appropriate in the public interest that public administrative proceedings be instituted against Bruce D. Le Duc ("Le Duc") pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Section 203(f) of the Investment Advisers Act of 1940 ("Investment Advisers Act").
In anticipation of the institution of these proceedings, Le Duc has submitted an Offer of Settlement ("Offer"), 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 Commission's findings contained herein, except as to the Commission's jurisdiction over Le Duc and over the subject matter of this proceeding, and to the Commission's findings set forth in Paragraphs III.A., III.B. and III.C., which are admitted, Le Duc consents to the entry of this Order Instituting Proceedings, Making Findings and Imposing Remedial Sanctions Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940 ("Order").
Accordingly, IT IS HEREBY ORDERED that proceedings pursuant to Sections 15(b) of the Exchange Act and Section 203(f) of the Investment Advisers Act are hereby instituted.
On the basis of this Order and Le Duc's Offer, the Commission finds that:
In light of the foregoing, it is appropriate in the public interest to impose the sanctions specified in the Offer submitted by Le Duc.
Accordingly, IT IS HEREBY ORDERED that Bruce D. Le Duc be, and hereby is, barred from association with any broker, dealer or investment adviser with a right to reapply in three (3) years to the appropriate self-regulatory organization, or if there is none, to the Commission.
For the Commission, by its Secretary, pursuant to delegated authority..
By the Commission.
Jonathan G. Katz
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