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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. 47047 / December 19, 2002

ADMINISTRATIVE PROCEEDING
File No. 3-10983


In the Matter of

CHRISTOPHER D. PANZA,

Respondent.


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ORDER PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934 INSTITUTING PROCEEDINGS, MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS

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 Christopher D. Panza ("Respondent").

II.

In anticipation of the institution of these proceedings, Panza 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, Panza 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 Panza, the Commission finds that:

  1. Christopher D. Panza, age 34, was a registered representative from October 1992 to April 1997 at A.S. Goldmen & Co. Inc. ("A.S. Goldmen"), a broker-dealer registered with the Commission. From April 1997 to December 1998, Panza was a registered representative at Joseph Stevens & Co., Inc., a broker-dealer registered with the Commission. Panza has also been a registered representative at the following registered broker-dealers: GKN Securities Corp. (July 1991 - October 1992); Commonwealth Associates (December 1990 - July 1991); D.H. Blair & Co., Inc. (June 1987 - December 1990); J.W. Gant & Associates, Inc. (August 1989); Vantage Financial Services, Inc. (January 1989 - August 1989), and; Mid-State Securities (September 1988 - January 1989). Panza is a resident of New Jersey.

  2. On December 14, 2000, Panza was criminally convicted of attempted enterprise corruption, a Class C 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. On January 18, 2002, Panza was sentenced to probation of 5 years and ordered to pay restitution in the amount of $80,000.

  3. According to the plea allocution upon which the criminal conviction was based, Panza, 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; (4) engaging in unauthorized trades of securities; (5) misrepresenting and failing to disclose A.S. Goldmen's purchase for its own account certain securities below prevailing market prices, and; (6) misrepresenting and failing to disclose the extent to which A.S. Goldmen was controlling the market for certain securities. Panza also gave false testimony under oath before the Securities and Exchange Commission in connection with its investigation into A.S. Goldmen & Co.

IV.

Based on the foregoing, the Commission deems it appropriate and in the public interest to accept Panza'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 Panza be, and hereby is, barred from association with any broker or dealer.

By the Commission.

Jonathan G. Katz
Secretary


http://www.sec.gov/litigation/admin/34-47047.htm


Modified: 12/20/2002