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U.S. Securities and Exchange Commission

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

Securities Exchange Act of 1934
Release No. 46791 / November 8, 2002

Administrative Proceeding
File No. 3-10893


In the Matter of
 
ROBERT F. CURLEY
 


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ORDER MAKING FINDINGS AND
IMPOSING SANCTION BY DEFAULT
AGAINST ROBERT F. CURLEY

SUMMARY

This Order bars Robert F. Curley from association with a broker-dealer, based on his felony conviction for conspiracy to commit securities fraud, mail fraud, and wire fraud.

I. BACKGROUND

The Securities and Exchange Commission (Commission) issued its Order Instituting Proceedings (OIP) in this matter on September 18, 2002, pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act). The OIP alleges that Robert F. Curley was associated with a broker-dealer from June 1993 through August 1999, and was convicted of conspiracy to commit securities fraud, mail fraud, and wire fraud. At a prehearing conference today, the Division of Enforcement (Division) moved for default, pursuant to 17 C.F.R. § 201.155(a)(2), asking that Curley be barred from association with any broker or dealer; Curley affirmatively stated that he would not defend the proceeding and would accept a default ordering the relief that the Division seeks.

Curley is in default within the meaning of 17 C.F.R. § 201.155(a)(2) in that he affirmatively declined to defend the proceeding. Accordingly, the undersigned finds that the allegations in the OIP are true.

II. FINDINGS OF FACT

Curley was convicted of conspiracy to commit securities fraud, mail fraud, and wire fraud on March 16, 2001. United States v. Robert F. Curley, No. 99-8110-003 CR-Hurley (S.D. Fla. Mar. 16, 2001). The wrongdoing that led to his conviction occurred from June 1993 through August 1999, while he was employed as a registered representative at various broker-dealers. Curley and others accepted bribes, and recruited brokers to accept bribes, from a stock promoter for inducing investors to purchase the securities of certain issuers affiliated with the promoter.

III. CONCLUSIONS OF LAW

Curley has been convicted, within ten years of the commencement of this proceeding, of "conspiracy to commit" a felony that "involves the purchase or sale of any security" and also "arises out of the conduct of the business of a broker [or] dealer" within the meaning of Sections 15(b)(4)(B) and 15(b)(6)(A)(ii) of the Exchange Act. His unlawful conduct was recurring and egregious. There are no mitigating circumstances.

IV. SANCTION

The Division requests that Curley be barred from association with any broker or dealer. This sanction will serve the public interest and the protection of investors, pursuant to Section 15(b) of the Exchange Act. It accords with Commission precedent and the sanction considerations set forth in Steadman v. SEC, 603 F.2d 1126, 1140 (5th Cir. 1979).

V. ORDER

IT IS ORDERED that ROBERT F. CURLEY IS BARRED from association with any broker or dealer.

 

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Carol Fox Foelak
Administrative Law Judge

 

 

http://www.sec.gov/litigation/admin/34-46791.htm


Modified: 11/12/2002