UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Investment Advisers Act of 1940
Release No. 2139 / June 26, 2003
File No. 3-11167
In the Matter of
ANTHONY W. BLISSETT
| ORDER INSTITUTING PUBLIC ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 203(f) OF THE INVESTMENT ADVISERS ACT OF 1940, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS|
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 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Anthony W. Blissett ("Blissett").
In anticipation of the institution of these proceedings, Blissett has 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, except the jurisdiction of the Commission over him and over and the subject matter of these proceedings, and the findings contained in Section III.3., which are admitted, Blissett consents to the entry of this Order Instituting Public Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions ("Order").
On the basis of Blissett's Offer and this Order, the Commission finds that:
- Blissett, age 58, is a resident of Miami, Florida. At all relevant times, Blissett was associated as an officer and director of A. B. Financing and Investments, Inc. ("A. B. Financing"), an unregistered investment adviser.
- In December 2002, the Commission filed a Complaint seeking injunctive and other relief against Blissett, A. B. Financing and others in the United States District Court for the Southern District of Florida. Securities and Exchange Commission v. A. B. Financing and Investments, Inc. and Anthony W. Blissett, No. 02-23487-CIV-UNGARO-BENAGES/BROWN. The Commission's Complaint alleged, among other things, that from at least October 1998 through December 2002, A. B. Financing and Blissett raised more than $31 million from several thousand investors by selling them securities that guaranteed, tax-free, 30% annual returns on investments of $10,000 or more. The Commission's Complaint further alleged that A. B. Financing and Blissett made a number of material misrepresentations and omissions to potential investors, including misrepresentations about the financial health of A. B. Financing. The Complaint alleged violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 ("Securities Act"), Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 promulgated thereunder, and Sections 206(1) and 206(2) of the Advisers Act.
- On March 14, 2003, the District Court entered a final judgment of permanent injunction by consent against Blissett, permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Advisers Act, in the aforementioned civil action.
In view of the foregoing the Commission deems it appropriate and in the public interest to impose the sanctions specified in Blissett's Offer.
ACCORDINGLY, IT IS HEREBY ORDERED:
Pursuant to Section 203(f) of the Advisers Act, that Respondent Blissett be, and hereby is, barred from association with any investment adviser.
For the Commission.
Jonathan G. Katz