UNITED STATES OF AMERICA
In the Matter of
MICHAEL I. NNEBE, NELSON C. WALKER, and HILDRETH J. FLEMING, JR.,
ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS PURSUANT TO SECTION 15(b)(6) OF THE SECURITIES EXCHANGE ACT OF 1934 AS TO HILDRETH J. FLEMING, JR.
On September 14, 2004, the Securities and Exchange Commission ("Commission") entered an Order Instituting Public Administrative Proceedings and Notice of Hearing Pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 ("Exchange Act") ("Initial Order") against respondent Hildreth J. Fleming, Jr. ("Fleming").
Fleming has submitted an Offer of Settlement of Hildreth J. Fleming, Jr. ("Offer") in these administrative proceedings, 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 him and the subject matter of these proceedings, and the findings contained in Section III.C below, which are admitted, Fleming consents to the entry of the Order Making Findings and Imposing Remedial Sanctions Pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 ("Order"), as set forth below.
Based on this Order and Fleming's Offer, the Commission finds that:
In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions agreed to in Fleming's Offer.
Accordingly, it is hereby ORDERED:
Pursuant to Section 15(b)(6) of the Exchange Act, Fleming be, and hereby is, barred from association with any broker or dealer.
Any reapplication for association by Fleming 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 Fleming, 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 ordered 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
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