U.S. Securities & Exchange Commission
SEC Seal
Home | Previous Page
U.S. Securities and Exchange Commission

Open Meeting Agenda
Friday, July 25, 2014

Item 1:

Oral Argument in the Matter of John P. Flannery and James D. Hopkins

The Commission will hear oral argument in an appeal by the Division of Enforcement from an initial decision of an administrative law judge.

On October 28, 2011, the law judge dismissed proceedings brought by the Division against Respondents John P. Flannery and James D. Hopkins, former employees of State Street Bank and Trust Company. The law judge held that Respondents did not violate the antifraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5 because she found that, among other things, they did not make misleading statements regarding the portfolio holdings of an unregistered collective trust fund, the Limited Duration Bond Fund ("LDBF"), in communications with LDBF investors.

The issues likely to be considered at oral argument include whether Respondents violated the antifraud provisions as alleged and, if so, the extent to which they should be sanctioned for those violations.

For further information, please contact the Office of the Secretary at (202) 551-5400.



Modified: 07/24/2014