KAREN MATTESON, Cal. Bar No. 102103
Attorneys for Plaintiff
UNITED STATES DISTRICT COURT
Plaintiff Securities and Exchange Commission ("Commission"), for its complaint against defendant Stephen J. Fischer ("Fischer"), alleges as follows:
1. This Court has jurisdiction over this action pursuant to Section 21(e), 15 U.S.C. § 78u(e), and Section 27, 15 U.S.C. 78aa, of the Securities Exchange Act of 1934 ("Exchange Act").
2. Stephen J. Fischer resides in Los Angeles, California. Until 1999, Fischer held securities licenses and acted as a registered representative.
FISCHER HAS VIOLATED A COMMISSION ORDER
3. On April 18, 2001, the Commission issued an Order Making Findings And Imposing Remedial Sanctions And Cease-And-Desist Order As To Stephen J. Fischer ("Order") in an administrative proceeding in which Fischer was a respondent. Among other things, the Order required Fischer to pay a $5,000 civil penalty to the United States Treasury. Pursuant to the Order, Fischer was required to pay $3,000 of the penalty by May 18, 2001, and the remaining $2,000 of the penalty by July 17, 2001. Fischer consented to the Order and had actual notice of it. Nevertheless, Fischer has failed to pay any portion of the $5,000 penalty.
CLAIM FOR RELIEF
Violation Of A Commission Order
[15 U.S.C. § 78u(e)]
4. Paragraphs 1 through 3 are realleged and incorporated herein by reference.
5. Fischer's failure to pay the $5,000 civil penalty violated the Order.
6. By reason of the foregoing, Fischer violated, and unless enjoined, will continue to violate the terms of the Commission's Order, which is enforceable by this Court pursuant to Section 21(e) of the Exchange Act, 15 U.S.C. § 78u(e).
PRAYER FOR RELIEF
WHEREFORE, the Commission respectfully requests that this Court:
Issue findings of fact and conclusions of law that Fischer violated the Order as alleged above.
Issue an Order, pursuant to Section 21(e) of the Exchange Act, 15 U.S.C. § 78u(e), requiring Fischer to comply with the Commission's Order to pay the $5,000 civil penalty.
Retain jurisdiction over this action in accordance with the principles of equity and the Federal Rules of Civil Procedure in order to implement and carry out the terms of all orders and decrees that may be entered, or to entertain any suitable application or motion for additional relief within the jurisdiction of this Court.
Grant such other and further relief as this Court may determine to be just and necessary.