UNITED STATES OF AMERICA
|In the Matter of
TIMOTHY CHARLES SWEENEY,
PURSUANT TO SECTION
203(f) OF THE INVESTMENT
ADVISERS ACT OF 1940,
MAKING FINDINGS AND
The Securities and Exchange Commission ("Commission") deems it appropriate in the public interest to institute public administrative proceedings pursuant to Section 203(f) of the Investment Advisers Act of 1940 ("Adviser's Act") against Timothy Charles Sweeney ("Sweeney" or "Respondent").
In anticipation of the institution of these proceedings, Sweeney has submitted an Offer of Settlement of Timothy Charles Sweeney ("Offer") which the Commission has determined to accept. Without admitting or denying the findings contained herein, except that Respondent admits the jurisdiction of the Commission over him and over the subject matter of these proceedings, and further admits the entry of the injunction set forth in paragraph II.B below, Sweeney consents to the issuance of this Order Instituting Public Proceedings Pursuant to Section 203(f) of the Investment Adviser Act of 1940, Making Findings and Imposing Remedial Sanctions ("Order").
Accordingly, IT IS ORDERED that public proceedings pursuant to Section 203(f) of the Advisers Act be, and hereby are, instituted.
On the basis of this Order and the Respondent's Offer, the Commission makes the following findings.
A. Sweeney, age 49, a resident of San Rafael, California, was at all relevant times hereto employed as a person associated with Sweeney Capital Management, Inc. ("SCM"), an investment adviser registered pursuant to Section 203(c) of the Advisers Act. Sweeney signed all Forms ADV filed by SCM with the Commission. Sweeney has been employed in the securities industry since 1984.
B. On April 20, 1999, a Final Judgment of Permanent Injunction and Other Equitable and Statutory Relief Against Timothy Charles Sweeney and Sweeney Capital Management, Inc. ("Final Judgment") was entered against Sweeney and SCM by the United States District Court for the Northern District of California in the case entitled Securities and Exchange Commission v. Sweeney Capital Management, Inc., et al., Civ. No. C-98-0937 MMC, enjoining them from future violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, Sections 204, 206(1), 206(2), 206(4), and 207 of the Advisers Act and Rules 204-1, 204-3, 206(4)-1, 206(4)-2 and 206(4)-4 thereunder. Sweeney consented to the entry of the Final Judgment without admitting or denying any of the allegations contained in the Complaint, except as to jurisdiction which he admitted.
In view of the foregoing, the Commission deems it appropriate in the public interest to impose the sanctions specified by Sweeney in his Offer.
Accordingly, IT IS ORDERED, that:
Timothy Charles Sweeney be, and hereby is, barred from association with any investment adviser.
By the Commission.
Jonathan G. Katz
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