Securities Act of 1933

Release No.  7292 / May 13, 1996

Securities Exchange Act of 1934
Release No. 37207 / May 13, 1996

Administrative Proceeding File No. 3-9002

In the Matter of David Anderson

     The Securities and Exchange Commission has issued an order
instituting administrative and cease-and-desist proceedings
pursuant to Sections 8A of the Securities Act of 1933 (Securities
Act) and Sections 15(b), 19(h) and 21C of the Securities Exchange
Act of 1934 (Exchange Act) against David Anderson (Anderson). 
The order alleges that Anderson aided and abetted his customers'
market manipulation of Angeion Corporation's (Angeion) common
stock.  The order specifically alleges that between December 1990
and May 1991, Anderson caused and willfully aided and abetted
violations of Section 17(a) of the Securities Act of 1933
(Securities Act), Section 10(b) of the Exchange Act and Rule 10b-
5 promulgated thereunder in that he knew or was reckless in not
knowing that three customer accounts engaged in matched trades
and that one customer account engaged in wash trades.  Anderson
provided knowing and substantial assistance with respect to the
customers' violations by acting as the registered representative
for these accounts and executing three matched trades involving
95,000 shares of Angeion valued at approximately $820,000 and at
least two wash trades involving 110,000 shares of Angeion valued
at approximately $963,000.  

     A public hearing will be held to determine whether the
allegations against Anderson are true, to offer him an
opportunity to establish any defenses to such allegations and to
determine what remedial action, if any, is appropriate.