UNITED STATES OF AMERICA
In the Matter of
RICHARD I. BALBER,
|ORDER INSTITUTING PUBLIC ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS|
The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Respondent Richard I. Balber ("Balber" or "Respondent").
In anticipation of the institution of these proceedings, Balber submitted an Offer of Settlement ("Offer") to the Commission, which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceeding brought by or on behalf of the Commission or in which the Commission is a party, Balber, without admitting or denying the findings, except as to the jurisdiction of the Commission over Balber and over the subject matter of this proceeding, and as to the entry of the injunction set forth in paragraph III.D. below, which are admitted, consents to the entry of the findings and remedial sanctions set forth below.
Accordingly, IT IS ORDERED that proceedings pursuant to Section 15(b) of the Exchange Act be, and, they hereby are, instituted.
On the basis of this Order Instituting Public Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions ("Order") and Balber's Offer, the Commission finds that:
Based on the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions specified in Balber's Offer.
Accordingly, IT IS ORDERED that:
Respondent be, and hereby is, barred from association with any broker or dealer.
By the Commission.
Jonathan G. Katz
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