Securities Exchange Act of 1934
Release No. 50696 / November 18, 2004

Admin. Proc. File No. 3-11660


In the Matter of

ANTHONY GIANNINOTO and EILEEN LAINE,

Respondents.



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ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934 AS TO EILEEN LAINE

I.

The Securities and Exchange Commission ("Commission") instituted public administrative proceedings on September 15, 2004, pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Eileen Laine ("Laine").

II.

Following institution of this proceeding, Laine submitted an Offer of Settlement (the "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 findings herein, except as to the Commission's jurisdiction over her and the subject matter of these proceedings, and the findings contained in Section III.B. below, which are admitted, Laine consents to the entry of this Order Making Findings and Imposing Remedial Sanctions Pursuant to Section 15(b) of the Exchange Act (the "Order"), as set forth below.

III.

On the basis of this Order and Laine's Offer, the Commission finds that:

A. From 1983 to 1997, Laine was the data processing manager of First Interregional Equity Corp. ("FIEC"), a New Jersey based broker-dealer, and First Interregional Advisors Corp. ("FIAC"), a New Jersey corporation that financed and distributed equipment lease contracts. Laine, 52 years old, is a resident of Lindenhurst, New York.

B. On November 18, 1998, Laine pled guilty to one count of conspiracy to commit securities fraud, in violation of Title 18 United States Code, Section 371, one count of conspiracy to commit tax offenses in violation of 18 United States Code, Section 371, one count of tax evasion in violation of Title 26 United States Code, Section 7201, and two counts of money laundering in violation of 18 United States Code, Section 1956 (a)(1)(B) and (2), before the United States District Court for the District of New Jersey, in United States v. Eileen Laine Crim. Information No. 2:98-CR-707. On January 14, 2002, Laine was sentenced to 30 months in prison followed by three years of supervised release and ordered to pay $162,215,645.09 in restitution.

IV.

In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions agreed to in Respondent Laine's Offer.

Accordingly, it is hereby ORDERED that, pursuant to Section 15(b)(6) of the Exchange Act, Respondent Laine be, and hereby is, barred from association with any broker or dealer.

Any reapplication for association by Laine 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 Laine, 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 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 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 Order.

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

Jonathan G. Katz
Secretary