UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 40168 / July 6, 1998 ADMINISTRATIVE PROCEEDING File No. 3-9640 _______________________________________ : : ORDER INSTITUTING PUBLIC In the Matter of : ADMINISTRATIVE PROCEEDING : PURSUANT TO SECTIONS 15(b)(6) : AND 19(h) OF THE SECURITIES : EXCHANGE ACT OF 1934, MAKING MY DANG, : FINDINGS, AND IMPOSING : REMEDIAL SANCTIONS : Respondent. : _______________________________________: I. The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest to institute a public administrative proceeding pursuant to Sections 15(b)(6) and 19(h) of the Securities Exchange Act of 1934 ("Exchange Act") against My Dang ("Dang"). Accordingly, IT IS HEREBY ORDERED that said proceeding be, and hereby is, instituted. II. In anticipation of the institution of this proceeding, Dang has submitted an offer of settlement ("Offer") which the Commission has determined to accept. Solely for the purpose of this proceeding and any other proceedings brought by or on behalf of the Commission, or in which the Commission is a party, without admitting or denying the findings contained herein, except that Dang admits the jurisdiction of the Commission over him and over the subject matter of this proceeding and the entry of the final judgment of permanent injunction referenced in Paragraph III.B, Dang consents to the entry of the findings and remedial sanctions set forth below. - - III. On the basis of this Order and Dang's Offer, the Commission finds that: A.From March 1993 through August 1995, Dang was employed as an investment banking associate at the Los Angeles, California offices of Donaldson, Lufkin & Jenrette, Inc. ("DLJ"), a broker- dealer registered with the Commission. During this time Dang held a Series 7 license. B.On June 22, 1998, a Final Judgment of Permanent Injunction and Other Relief Against Defendant My Dang ("Final Judgment") was entered in the United States District Court for the Central District of California. Dang consented to the entry of the Final Judgment without admitting or denying the allegations contained in the Complaint. The Final Judgment permanently enjoins Dang from violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. SEC v. My Dang, Civil Action No. 98-4865 DT (JGx) (C.D. Cal.). C.The Commission's Complaint filed in the action described above alleges, among other things, that Dang engaged in insider trading on several occasions while in possession of material nonpublic information obtained during the course of his employment with DLJ, in breach of a fiduciary duty. D.The Complaint alleges that Dang sold short a total of 20,900 shares of common stock of Capital Gaming International, Inc. ("Capital Gaming") on three successive days between April 24 and 26, 1995, prior to the company's April 28, 1995 announcement that sizable cost overruns had been incurred on its riverboat project. Following the announcement, the price of Capital Gaming stock decreased materially. E.The Complaint further alleges that Dang again sold short a total of 11,500 shares of Capital Gaming common stock on May 26 and 30, 1995, before the company announced its probable inability to meet financial obligations due on August 1, 1995. Following the announcement, the price of Capital Gaming stock again decreased materially. F.The Commission's Complaint also alleges that on June 19, 1995, Dang purchased 13,000 shares of common stock of Super Rite Corporation ("Super Rite"), after learning that DLJ was representing the company in connection with its impending acquisition by Richfood Holdings, Inc. Once the acquisition was publicly announced, the price of Super Rite stock increased materially. G.The Complaint alleges that in each of the above-described instances, Dang closed his securities position shortly after the news was publicly disclosed. H.The Complaint alleges that, as a consequence of his trades while in possession of material nonpublic information, Dang realized illegal profits totaling $59,765.27. IV. Based upon the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions specified in Dang's Offer. Accordingly, IT IS HEREBY ORDERED, that effective immediately, Dang be, and hereby is, barred from association with any broker, dealer, municipal securities dealer, investment adviser or investment company, with the right to reapply for association after three years to the appropriate self-regulatory organization, or if there is none, to the Commission. By the Commission. Jonathan G. Katz Secretary - -