Finality Order of an Initial Decision of an SEC Administrative Law Judge

In the Matter of
Michael D. Richard

UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES ACT OF 1933
Rel. No. 8214 / March 26, 2003

SECURITIES EXCHANGE ACT OF 1934
Rel. No. 47576 / March 26, 2003

Admin. Proc. File No. 3-10848

NOTICE THAT INITIAL DECISION HAS BECOME FINAL

The time for filing a petition for review of the initial decision in this proceeding has expired. No such petition has been filed with respect to Michael D. Richmond, and the Commission has not chosen to review the decision as to him on its own initiative.

Accordingly, notice is hereby given, pursuant to Rule 360(e) of the Commission's Rules of Practice, that the initial decision of the administrative law judge^* has become the final decision of the Commission with respect to Michael D. Richmond. The order contained in the decision with respect to him is hereby declared effective. That order barred Richmond from associating with any broker or dealer.

For the Commission by the Office of the General Counsel, pursuant to delegated authority.

Jonathan G. Katz
Secretary

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