U.S. Securities & Exchange Commission
SEC Seal
Home Previous Page
U.S. Securities and Exchange Commission

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 49862 / June 15, 2004

INVESTMENT ADVISERS ACT OF 1940
Release No. 2249 / June 15, 2004

ADMINISTRATIVE PROCEEDING
File No. 3-11520


In the Matter of

SCOTT FINE and
KEVIN BOYLE,

Respondents.


:
:
:
:
:
:
:
:
:
:
ORDER INSTITUTING ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934 AND SECTION 203(f) OF THE INVESTMENT ADVISERS ACT OF 1940, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS

I.

The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted 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 ("Advisers Act") against Scott Fine ("Fine") and Kevin Boyle ("Boyle") (hereinafter collectively "Respondents").

II.

In anticipation of the institution of these proceedings, Respondents have submitted Offers of Settlement (the "Offers") 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 findings herein, except as to the Commission's jurisdiction over them and the subject matter of these proceedings, and the findings contained in Section III.4 below, which are admitted, Respondents consent to the entry of this Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions ("Order"), as set forth below.

III.

On the basis of this Order and Respondents' Offers, the Commission finds that:

1. Fine is a resident of Ft. Myers, Florida. From approximately October 2000 through at least June 2003, Fine was a registered representative associated with a broker-dealer, KESCO Securities Corp,. which was registered with the Commission, and was co-owner of KS Advisors, Inc., an unregistered investment adviser.

2. Boyle is currently a resident of Greensburg, Pennsylvania. From approximately October 2000 through at least June 2003, Boyle was a registered representative associated with a broker-dealer, KESCO Securities Corp,. which was registered with the Commission, and was co-owner of KS Advisors, Inc., an unregistered investment adviser.

3. On February 26, 2004, the Commission filed a complaint in the United States District Court for the Middle District of Florida captioned SEC v. KS Advisors, Inc., et. al., Case No.: 2:04-CV-105-FTM-29DNF-STEELE (M.D. Fla.) alleging, among other things, violations of the antifraud provisions of the federal securities laws by the Respondents, among others, in connection with the securities offering of KS Condor Partners, LTD., II, and Damian Partners, LLC.

4. On May 25, 2004, a Final Judgment of Permanent Injunction and Other Relief ("Judgment") was entered against the Respondents. The Judgment permanently enjoined the Respondents from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Exchange Act, and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Advisers Act. The Respondents consented to the entry of the Judgment without admitting or denying the allegations contained in the Commission's Complaint.

IV.

In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions agreed to in Offers made by Respondents.

Accordingly, it is hereby ORDERED:

Pursuant to Section 15(b)(6) of the Exchange Act and Section 203(f) of the Advisers Act, that Respondents be, and hereby are, barred from association with any broker, dealer, or investment adviser;

Any reapplication for association by the Respondents will be subject to the applicable laws and regulations governing the reentry process, and reentry may be conditioned upon a number of factors, including, but not limited to, the satisfaction of any or all of the following: (a) any disgorgement ordered against the Respondents, whether or not the Commission has fully or partially waived payment of such disgorgement; (b) any arbitration award related to the conduct that served as the basis for the Commission order; (c) any self-regulatory organization arbitration award to a customer, whether or not related to the conduct that served as the basis for the Commission order; and (d) any restitution order by a self-regulatory organization, whether or not related to the conduct that served as the basis for the Commission order.

For the Commission, by its Secretary, pursuant to delegated authority.

Jonathan G. Katz
Secretary

 

http://www.sec.gov/litigation/admin/34-49862.htm


Modified: 06/16/2004