Office of Municipal Securities: Cases and Materials
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Office of Municipal Securities: Cases and Materials

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Municipal Bond Participants - Table of Contents


  *  Issuer
  *  Public Officials
  *  Obligated Persons
  *  The Underwriter
  *  Financial Advisor
  *  Bond Counsel
  *  Underwriter's Counsel
  *  Trustee
  *  Accountant/Advisor
  *  Consultants
  *  Sales Practices
  *  Failure to Supervise
  *  Reinvestment of Proceeds
  *  Reliance on Counsel

The Issuer 

Injunctive Proceedings

SEC v. Robert D. Gersh, Boston Municipal Securities, Inc., and Devonshire Escrow and Transfer Corp., Civ. Action No. 95-12580 (RCL) (D. Mass.), Litigation Release No. 14742 (November 30, 1995) (complaint).

SEC v. Robert D. Gersh, Boston Municipal Securities, Inc., and Devonshire Escrow and Transfer Corp., Litigation Release No. 15310 (March 31, 1997) (settled final order).

SEC v. San Antonio Municipal Utility District No. 1, et al., Civ. Action No. H-77-1868 (S.D. Tex.), Litigation Release No. 8195 (November 18, 1977) (settled final order).

SEC v. Whatcom County Water District No. 13, et al., Civ. Action No. C77-103, (W.D. Wash.), Litigation Release No. 7810 (March 7, 1977) (complaint).

SEC v. Whatcom County Water District No. 13, et al., Litigation Release No. 7592 (May 10, 1977) (settled final order).

SEC v. Washington County Utility District, et al., Civ. Action No. 2-77-15 (E.D. Tenn.), Litigation Release No. 7782 (February 15, 1977) (complaint).

SEC v. Washington County Utility District, et al., Litigation Release No. 7868 (April 14, 1977) (default entered).

SEC v. Reclamation District No. 2090, et al., Civ. Action No. 76-1231-SAW (N.D. Cal.), Litigation Release No. 7460 (June 22, 1976) (complaint).

SEC v. Reclamation District No. 2090, et al., Litigation Release No. 7551 (September 8, 1976) (settled final order).

Commission Orders Settled Administrative Proceedings

In re Newport-Mesa Unified School District, Securities Act Release No. 7589, A. P. File No. 3-9738 (September 29, 1998).

In re City of Moorhead, Mississippi, Securities Act Release No. 7585, Exchange Act Release No. 40478, A.P. File No. 3-9724 (September 24, 1998); Securities Act Release No. 7616, Exchange Act Release No. 40770, A.P. File No. 3-9724 (December 10, 1998).

In re City of Carthage, MS., et al., Securities Act Release No. 40194, A. P. File No. 3-9650 (July 13, 1998) (administrative cease and desist proceedings against 38 municipalities and settled administrative orders).

In re County of Nevada, City of Ione, Wasco Public Financing Authority, Virginia Horler and William McKay, Securities Act Release No. 7503, Exchange Act Release No. 39612, A.P. File No. 3-9542 (February 2, 1998).

In re County of Nevada, Securities Act Release No. 7535, A.P. File No. 3-9542 (May 5, 1998).

In re Wasco Public Financing Authority, Securities Act Release No. 7536, A.P. File No. 3-9542 (May 5, 1998).

In re City of Ione, Securities Act Release No. 7537, A.P. File No. 3-9542 (May 5, 1998).

In re City of Syracuse, New York, Warren D. Simpson, and Edward D. Polgreen, Securities Act Release No. 7460, Exchange Act Release No. 39149, AAE Release No. 970, A.P. File No. 3-9452 (September 30, 1997).

In re Maricopa County, Securities Act Release No. 7345, Exchange Act Release No. 37748, A.P. File No. 3-9118 (September 30, 1996).

In re Maricopa County, Securities Act Release No. 7354, Exchange Act Release No. 37779, A.P. File No. 3-9118 (October 3, 1996).

In re County of Orange, California; Orange County Flood Control District and County of Orange, California Board of Supervisors, Securities Act Release No. 7260, Exchange Act Release No. 36760, A.P. File No. 3-8937 (January 24, 1996).

Public Officials 

Report under Section 21(a) of the Exchange Act

Report of Investigation in the Matter of County of Orange, California as it Relates to the Conduct of the Members of the Board of Supervisors, Exchange Act Release No. 36761 (January 24, 1996).

Injunctive Proceedings

SEC v. Larry K. O'Dell, Civ. Action No. 98-948-CIV-ORL-18A (M.D. Fla.); Litigation Release No. 15858 (August 24, 1998) (settled final order).

SEC v. Robert L. Citron and Matthew R. Raabe, Civ. Action No. SACV 96-74 GLT (C.D. Cal.), Litigation Release No. 14792 (January 24, 1996) (complaint).

SEC v. Robert L. Citron and Matthew R. Raabe, Litigation Release No. 14913 (May 17, 1996) (settled final orders).

SEC v. Louis Bethune, Charles L. Howard and John Jackson, Civ. Action No. CV:95-B2509 (N.D. Ala.), Litigation Release No. 14675 (October 2, 1995) (complaint).

SEC v. Louis Bethune, Charles L. Howard and John Jackson, Litigation Release No. 15024 (August 26, 1996) (settled final order).

SEC v. Louis Bethune, Charles L. Howard and John Jackson, Litigation Release No. 15271 (February 28, 1997) (settled final order).

SEC v. Terry D. Busbee and Preston C. Bynum, Civ. Action No. 95-30024 RV (N.D. Fla.), Litigation Release No. 14387 (January 23, 1995) (complaint).

SEC v. Terry D. Busbee and Preston C. Bynum, Litigation Release No. 14508 (May 24, 1995) (settled final order).

SEC v. Whatcom County Water District No. 13, et al., Civ. Action No. C77-103, (W.D. Wash.), Litigation Release No. 7810 (March 7, 1977) (complaint); Litigation Release No. 7592 (May 10, 1977) (settled final orders).

SEC v. Washington County Utility District, et al., Civ. Action No. CA-2-77-15 (E.D. Tenn.), Litigation Release No. 7782 (February 15, 1977) (complaint).

SEC v. Washington County Utility District, et al., Litigation Release No. 7868 (April 14, 1977) (settled final orders).

SEC v. Washington County Utility District, et al., Litigation Release No. 8410 (May 15, 1978) (settled final order).

SEC v. Washington County Utility District, et al., 1982 U.S. Dist. LEXIS 17316 (E.D. Tenn. Dec. 2, 1982).

SEC v. Reclamation District No. 2090, et al., Civ. Action No. C76-1231-SAW (N.D. Cal.), Litigation Release No. 7460 (June 22, 1976) (complaint).

SEC v. Reclamation District No. 2090, et al., Litigation Release No. 7547 (September 2, 1976) (settled final order).

Commission Orders Settled Administrative Proceedings

In re City of Syracuse, New York, Warren D. Simpson, and Edward D. Polgreen, Securities Act Release No. 7460, Exchange Act Release No. 39149, AAE Release No. 970, A.P. File No. 3-9452 (September 30, 1997).

Obligated Persons 

Report under Section 21(a) of the Exchange Act

SEC, Staff Report on Transactions in the Marine Protein Corporation Industrial Development Revenue Bonds, Exchange Act Release No. 15719 (April 11, 1979).

Injunctive Proceedings

SEC v. Lee F. Sutliffe, Civ. Action No. 95-0867-CV-W-BD (W.D. Mo.), Litigation Release No. 14658 (September 28, 1995) (complaint).

SEC v. Lee F. Sutliffe, Litigation Release No. 14707 (November 1, 1995) (settled final order).

SEC v. Calhoun County Medical Facility, Inc., et al., Civ. Action No. WC-81-61 WK-P(N.D. Miss.), Litigation Release No. 9366 (June 1, 1981) (settled final order).

SEC v. San Antonio Municipal Utility District No. 1, et al., Civ. Action No. H-77-1868(S.D. Tex.), Litigation Release No. 8195 (November 18, 1977) (settled final order).

SEC v. Astro Products of Kansas, Inc., et al., Civ. Action No. 76-359-LG (D. C. Kans.), Litigation Release No. 7557 (September 13, 1976) (complaint).

SEC v. Astro Products of Kansas, Inc., et al., Litigation Release No. 7774 (February 10, 1977) (settled final orders).

SEC v. Astro Products of Kansas, Inc., et al., Litigation Release No. 8613 (December 8, 1978) (defaults entered).

SEC v. The Senex Corporation, et al., Civ. Action No. 74-53 (E.D. Ky.), Litigation Release No. 6451 (July 24, 1974) (complaint).

SEC v. The Senex Corporation, et al., Litigation Release No. 6769 (March 5, 1975) (settled final orders.)

SEC v. The Senex Corporation, et al., Litigation Release No. 8651 (January 23, 1979) (settled final orders).

SEC v. The Senex Corporation, et al., 399 F. Supp. 497 (E.D. Ky. 1975).

Commission Orders Settled Administrative Proceedings

In re Joseph LeGrotte, Securities Act Release No. 7200, Exchange Act Release No. 36036, A.P. File No. 3-8763 (July 31, 1995).

In re Sidney Gould, Securities Act Release No. 7201, Exchange Act Release No. 36037, A.P. File No. 3-8764 (July 31, 1995).

The Underwriter 

Report under Section 21(a) of the Exchange Act

SEC, Staff Report on Transactions in the Marine Protein Corporation Industrial Development Revenue Bonds, Exchange Act Release No. 15719 (April 11, 1979).

Injunctive Proceedings

SEC v. William C. Bethea, Civ. Action No. 3:98CV-457-LAC-MD (N.D. Fl.), Litigation Release No. 15985 (November 23, 1998) (settled final order).

SEC v. First California Capital Markets Group, Inc., H. Michael Richardson and Derrick Dumont, Civ. No. 97-2761-SI (N.D. Cal.), Litigation Release No. 15423 (July 28, 1997) (complaint).

SEC v. First California Capital Markets Group, Inc., H. Michael Richardson and Derrick Dumont, Litigation Release No. 16107 (April 7, 1999) (settled final orders).

SEC v. Robert D. Gersh, Boston Municipal Securities, Inc., and Devonshire Escrow and Transfer Corp., Civ. Action No. 95-12580 (RCL) (D. Mass.), Litigation Release No. 14742 (November 30, 1995) (complaint); Litigation Release No. 15310 (March 31, 1997) (settled final order).

SEC v. Robert M. Cochran, Michael B. Garrett and Randall W. Nelson , Civ. Action No. 95-1477T (W.D. Okla.), Litigation Release No. 14644 (September 20, 1995) (complaint) consolidated with SEC v. James V. Pannone and Sakura Global Capital, Inc., Civ. Action No. CIV98-146L (W.D. Okla.), Litigation Release No. 15630 (January 29, 1998) (complaint).

SEC v. Robert M. Cochran, Randall W. Nelson, James V. Pannone, Steven Strauss, and Sakura Global Capital, Inc., (Order granting in part and denying in part motions for summary judgment of defendants) (January 28, 1999).

SEC v. Robert Cochran, James Pannone, Sakura Global Capital, Inc. and Steven Strauss, Litigation Release No. 16063 (February 17, 1999) (settled final orders).

SEC v. Michael Goodman and Harold Tzinburg, Civ. Action No. 95CV 71563 (E.D. MI.), Litigation Release No. 14471 (April 19, 1995) (settled final order).

SEC v. Nicholas A. Rudi, Joseph C. Salema, Public Capital Advisors, Inc., George L. Tuttle Jr. and Alexander S. Williams, Civ. Action No. 95 Civ. 1282 (S.D.N.Y.), Litigation Release No. 14421 (February 23, 1995) (settled final orders against Tuttle & Williams).

SEC v. Terry D. Busbee and Preston C.Bynum , Civ. Action No. 95-30024 RV (N.D. Fla.), Litigation Release No. 14387 (January 23, 1995); Litigation Release No. 14508 (May 24, 1995) (settled final order).

SEC v. Matthews & Wright Group, Inc. et al., Civ. Action No. 89-2877 (S.D.N.Y.), Litigation Release No. 12072 (April 27, 1989) (settled final orders).

SEC v. William H. Crossman, et al., Civ. Action No. 79C-2550 (N.D. lll.), Litigation Release No. 8809 (July 2, 1979) (complaint).

SEC v. William H. Crossman, et al., Litigation Release No. 8956 (December 18, 1979) (settled final orders).

SEC v. Shelby Bond Service Corp., et al., Civ. Action No. C-77-2236 (W.D. Tenn.), Litigation Release No. 7888 (April 27, 1977) (complaint).

SEC v. Shelby Bond Service Corp., et al., Litigation Release No. 7965 (June 9, 1977) (settled final orders).

SEC v. Shelby Bond Service Corp., et al., Litigation Release No. 8578 (October 27, 1978) (settled final order).

SEC v. Washington County Utility District, et al., Civ. Action No. CA-2-77-15 (E.D. Tenn.), Litigation Release No. 7782 (Feb. 15, 1977) (complaint).

SEC v. Washington County Utility District, et al., Litigation Release No. 8466 (July 17, 1978) (settled final orders).

SEC v. Astro Products of Kansas, Inc., et al., Civ. Action No. CA-76-359-L6 (D.C. Kan.), Litigation Release No. 7557 (September 13, 1976) (complaint); Litigation Release No. 7774 (February 10, 1977) (settled final orders); Litigation Release No. 8613 (December 8, 1978) (defaults entered).

SEC v. Reclamation District No. 2090, et al., Civ. Action No. C76-1231-SAW (N.D. Cal.), Litigation Release No. 7460 (June 22, 1976) (complaint).

SEC v. Reclamation District No. 2090, et al., Litigation Release No. 7688 (December 7, 1976) (settled final orders).

SEC v. The Senex Corporation, et, al., Civ. Action No. 74-53 (E.D. Ky.), Litigation Release No. 6451 (July 24, 1974) (complaint), Litigation Release No. 6769 (March 5, 1975) (settled final order); Litigation Release No. 8651 (January 23, 1979) (settled final order).

Administrative Proceedings Commission Decisions

In re Boettcher and Company, Exchange Act Release No. 8393, A.P. File No. 3-544 (August 30, 1968).

Commission Orders Settled Administrative Proceedings

In re John E. Thorn, Jr., and Thorn Welch & Co., Inc., Securities Act Release No. 7663; A.P. No. 3-8400 (March 31, 1999).

In re Eugene J. Yelverton, Jr., Securities Act Release No. 7662, Exchange Act Release No. 41232, A.P. No. 3-9859 (March 31, 1999).

In re James V. Pannone, Exchange Act Release No. 41065, A.P. File No. 3-9830 (February 17, 1999).

In re Randall W. Nelson, Securities Act Release No. 7635, Exchange Act Release No. 40984, A.P. File No. 3-9819 (January 27, 1999).

In re Stephens Inc., Securities Act Release No. 7612, Exchange Act Release No. 40699, A.P. File No. 3-9781 (November 23, 1998).

In re Merrill Lynch, Pierce, Fenner & Smith Inc., Securities Act Release No. 7566, Exchange Act Release No. 40352, A.P. File No. 3-9683 (August 24, 1998).

In re Meridian Securities, Inc., and Corestates Capital Markets, Securities Act Release No. 7525, Exchange Act Release No. 39905, A.P. File No. 3-9582 (April 23, 1998).

In re CS First Boston Corp., Jerry L. Nowlin and Douglas J. Montague, Securities Act Release No. 7498, Exchange Act Release No. 39595, A.P. File No. 3-9535 (January 29, 1998).

In re Lazard Freres & Co. LLC, Securities Act Release No. 7480, Exchange Act Release No. 39388, A.P. File No. 3-9495 (December 3, 1997).

In re Michael Lissack, Exchange Act Release No. 39119, A.P. File No. 3-9427 (September 23, 1997).

In re Michael Lissack, Exchange Act Release No. 39687 (February 20, 1998).

In re Smith Barney, Inc., Exchange Act Release No. 39118, A.P. File No. 3-9426 (September 23, 1997).

In re Derek Washington, Securities Act Release No. 7442, Exchange Act Release No. 38978 (August 27, 1997).

In re Derek Washington, Securities Act Release No. 7504, Exchange Act Release No. 39650 (February 12, 1998).

In re Willie Daniels, Securities Act Release No. 7441, Exchange Act Release No. 38977, A.P. File No. 3-9375 (August 27, 1997).

In re Robert D. Gersh, Exchange Act Release No. 38459, Advisers Act Release No. 1626, A.P. File No. 3-9284 (April 1, 1997).

In the Matter of First Fidelity Securities Group, Exchange Act Release No. 36694, A.P. File No. 3-8917 (January 9, 1996).

In re FAIC Securities, Exchange Act Release No. 36937, A.P. File No. 3-8970 (March 7, 1996).

In re Lazard Freres & Co., LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Exchange Act Release No. 36419, A.P. File No. 3-8872 (October 26, 1995).

In re Michael S. Goodman, Exchange Act Release No. 36279, A.P. File No. 3-8829 (September 26, 1995).

In re Preston C. Bynum, Exchange Act Release No. 35870, A.P. File No. 3-8729 (June 20, 1995).

In re George L. Tuttle, Jr. and Alexander S. Williams, Exchange Act Release No. 35605, A.P. File No. 3-8668 (April 14, 1995).

In re Matthews & Wright Group, Inc., Exchange Act Release No. 34-26841, A.P. File No. 3-7191 (May 19, 1989).

In re Bullington-Schas & Co., Inc., Exchange Act Release No. 17832, A.P. File No. 3-6028 (June 1, 1981).

In re First Citizens Municipal Corp., Exchange Act Release No. 16725, A.P. File No. 3-5900 (April 8, 1980).

In re Rovinsky & Co., Inc., Exchange Act Release No. 15451, A.P. File No. 3-5609 (January 2, 1979).

In re Rovinsky & Co., Inc., Exchange Act Release No. 15756, A.P. File No. 3-5609 (April 23, 1979).

In re Midwest Securities Co., Exchange Act Release No. 14544 (March 8, 1978).

In re Midwest Securities Co., Exchange Act Release No. 14919, A.P. File No. 3-5391 (July 3, 1978).

In re Carl Hanauer & Co., Exchange Act Release No. 9099, A.P. File No. 3-723 (March 12, 1971).

In re Walston & Co. Inc., and Harrington, Exchange Act Release No. 8165 (September 22, 1967).

Financial Advisor 

Report under Section 21(a) of the Exchange Act

SEC, Staff Report on Transactions in the Marine Protein Corporation Industrial Development Revenue Bonds, Exchange Act Release No. 15719 (April 11, 1979).

Injunctive Proceedings

SEC v. John Gardner Black, Devon Capital Management, Inc., and Financial Management Sciences, Inc., Civ. Action No. 97-2257 (W.D. Pa.) Litigation Release No. 15511 (September 26, 1997) (complaint)

SEC v. John Gardner Black, Devon Capital Management, Inc., and Financial Management Sciences, Inc., Litigation Release No. 15591 (December 15, 1997) (settled final orders).

SEC v. Mark S. Ferber, Civ. Action No. 96-12653 (EFH) (D. Mass.), Litigation Release No. 15193 (December 19, 1996) (settled final order).

SEC v. Nicholas A. Rudi, Joseph C. Salema, Public Capital Advisors, Inc., George L. Tuttle Jr. and Alexander S. Williams, Civ. Action No. 95 Civ. 182 (S.D.N.Y.), Litigation Release No. 14421 (February 23, 1995) (settled final order against Salema).

SEC v. Nicholas A. Rudi, Joseph C. Salema, Public Capital Advisors, Inc., George L. Tuttle Jr. and Alexander S. Williams, Litigation Release No. 15218 (January 17, 1997) (settled final orders against Rudi and Public Capital Advisors).

SEC v. The Senex Corporation, et al., Civ. Action No. 74-53 (E.D. Ky.), Litigation Release No. 6451 (July 24, 1974) (complaint); Litigation Release No. 6769 (March 5, 1975) (settled final order); Litigation Release No. 8651 (January 23, 1979) (settled final order); 399 F. Supp. 497 (E.D. Ky. 1975).

Commission Orders - Settled Administrative Proceedings

In re Lazard Freres & Co. LLC, Securities Act Release No. 7671, Exchange Act Release No. 41318, A.P. File No. 3-9880 (April 21, 1999).

In re Leifer Capital, Inc., Jeffrey Leifer, and David Leifer, Securities Act Release No. 7630, A.P. File No. 3-9810 (January 14, 1999)

In re O'Brien Partners, Inc., Securities Act Release No. 7594, Investment Advisers Act Release No. 1772, A.P. File No. 3-9761 (October 27, 1998).

In re John Gardner Black and Devon Capital Management, Inc., Investment Advisers Act Release No. 1720, A.P. File No. 3-9599 (May 4, 1998).

In re Freeman B. Irby III, Exchange Act Release No. 39362, A.P. File No. 3-9490 (November 26, 1997).

In re Ferber, Exchange Act Release No. 38102, A.P. File No. 3-9211 (December 31, 1996).

In re Peacock, Hislop, Staley & Given, Inc. and Larry S. Given, Securities Act Release No. 7353, Exchange Act Release No. 37777, A.P. File No. 3-9139 (October 2, 1996).

In re Lazard Freres & Co., LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Exchange Act Release No. 36419, A.P. File No. 3-8872 (October 26, 1995).

Bond Counsel 

Report under Section 21(a) of the Exchange Act

Attorney's Conduct in Issuing an Opinion Letter Without Conducting An Inquiry Of Underlying Facts Failed to Comport With Applicable Standards of Conduct, Exchange Act Release No. 17831 (June 1, 1981).

Injunctive Proceedings

SEC v. Calhoun County Medical Facility, Inc., et al., Civ. Action No. WC-81-61 WK-P(N.D. Miss.), Litigation Release No. 9366 (June 1, 1981) (settled final order).

SEC v. Haswell, Civ. Action No. CIV-77-0408-B, 1977 U.S. Dist. LEXIS 13396 (W.D. Okla. Oct. 19, 1977).

SEC v. Washington County Utility District, et al., Civ. Action No. 2-77-15 (E.D. Tenn.), Litigation Release No. 7782 (February 15, 1977) (complaint); Litigation Release No. 7868(April 14, 1977) (settled final order).

SEC v. Reclamation District No. 2090, et al., Civ. Action No. C76-1231-SAW (N.D. Cal.), Litigation Release No. 7460, (June 22, 1976) (complaint).

SEC v. Reclamation District No. 2090, et al., Litigation Release No. 7590(September 28, 1976) (settled final order).

Commission Orders - Settled Administrative Proceedings

In re Jean Costanza, Securities Act Release No. 7621, A.P. File No. 3-9799 (January 6, 1999).

In re Thorn, Alvis, Welch, Inc., John E. Thorn, Jr., and Derryl W. Peden, A.P. File No. 3-8400 (June 23, 1994).

In re Derryl W.Peden, Exchange Act Release No. 35045 (December 2, 1994).

In re Jo M. Ferguson, Securities Act Release No. 5523, A.P. File No. 3-4528 (August 21, 1974).

Underwriter's Counsel 

Report under Section 21(a) of the Exchange Act

Attorney's Conduct in Issuing an Opinion Letter Without Conducting An Inquiry Of Underlying Facts Failed to Comport With Applicable Standards of Conduct, Exchange Act Release No. 17831 (June 1, 1981).

Injunctive Proceedings

SEC v. Michael Goodman and Harold Tzinburg, Civ. Action No. 95CV 71563 (E.D. Mich.), Litigation Release No. 14471 (April 19, 1995) (settled injunctive order).

SEC v. Matthews & Wright Group, Inc., Matthews & Wright Inc., George W. Benoit, Arthur Abba Goldberg, Rodger J. Burns and Bernard M. Althoff, Civ. Action No. 89-2877 (S.D.N.Y), Litigation Release No. 12072 (April 27, 1989) (complaint).

SEC v. Matthews & Wright Group, Inc., Matthews & Wright Inc., George W. Benoit, Arthur Abba Goldberg, Rodger J. Burns and Bernard M. Althoff, Litigation Release No. 12950 (August 22, 1991) (settled final order).

Trustee 

Injunctive Proceedings

SEC v. Robert D. Gersh, Boston Municipal Securities, Inc., and Devonshire Escrow and Transfer Corp., Civ. Action No. 95-12580 (RCL) (D. Mass.), Litigation Release No. 14742 (November 30, 1995) (complaint); Litigation Release No. 15310 (March 31, 1997) (settled final order).

Accountant/Auditor 

Commission Orders - Settled Administrative Proceedings

In the Matter of Ronald Blaine, Securities Act Release No. 7224, Exchange Act Release No. 36277, AAE Release No. 717, A.P. File No. 3-8828 (September 26, 1995).

Consultants 

Injunctive Proceedings

SEC v. A. L. Busby, et al., Civ. Action No. C-79-2442-M (W.D. Tenn.), Litigation Release No. 8812 (July 5, 1979) (settled final order).

SEC v. The Senex Corporation, et al., Civ. Action No. 7453 (E.D. Ky.), Litigation Release No. 6451 (July 24, 1974) (complaint); 399 F. Supp. 497 (E.D. Ky. 1975); Litigation Release No. 6769 (March 5, 1975) (settled final orders); Litigation Release No. 8651 (January 23, 1979) (settled final orders).

Commission Orders - Settled Administrative Proceedings

In re County of Nevada, City of Ione, Wasco Public Financing Authority, Virginia Horler and William McKay, Securities Act Release No. 7503, Exchange Act Release No. 39612, A.P. File No. 3-9542 (February 2, 1998).

In re William McKay, Securities Act Release No. 7536, Exchange Act Release No. 40225, A.P. File No. 3-9542, (July 17, 1998).

In re Dwight Allen, Securities Act Release No. 7456, Exchange Act Release No. 39122, A.P. File No. 3-9430 (September 24, 1997).

In re Richard Milbrodt, Securities Act Release No. 7455, Exchange Act Release No. 39121, A.P. File No. 3-9429 (September 24, 1997).

Sales Practices 

Injunctive Proceedings

SEC v. First California Capital Markets Group, Inc., H. Michael Richardson and Derrick Dumont, Civ. No. 97-2761-SI (N.D. Cal.), Litigation Release No. 15423 (July 28, 1997) (complaint); Litigation Release No. 16107 (April 7, 1999) (settled final orders).

SEC v. J.B. Hanauer & Co., Civ. Action No. 82-407 (D. N.J.), Litigation Release No. 9582 (February 11, 1982) (settled final order).

SEC v. Shelby Bond Service Corporation, et al. Civ. Action No. C-77-2236 (W.D. Tenn.), Litigation Release No. 7888 (April 27, 1977) (complaint); Litigation Release No. 7965 (June 9, 1977) (settled final orders); Litigation Release No. 8578 (October 27, 1978) (settled final order).

SEC v. Bertsil L. Smith and Robert W. Bradford and Jon R. Walls, Civ. Action No. C-76-497 (W.D. Tenn.), Litigation Release No. 7652 (November 16, 1976) (complaint).

SEC v. Bertsil L. Smith and Robert W. Bradford and Jon R. Walls, Litigation Release No. 7764 (January 31, 1977) (defaults entered).

SEC v. C. Norman Driscoll, et al., Civ. Action No. 76-1520 (D. N.J.), Litigation Release No. 7515 (August 6, 1976) (settled final orders).

SEC v. C. Norman Driscoll, et al., Litigation Release No. 7588 (September 28, 1976) (settled final order).

SEC v. C. Norman Driscoll, et al., Litigation Release No. 7612 (October 20, 1976) (settled final order).

SEC v. Irvin D. Kaplan, Civ. Action No. ___ (S.D. Tex.), Litigation Release No. 7051 (August 22, 1975) (settled final order).

SEC v. R.J. Allen & Associates, Inc., et al., Civ. Action No. 74-1273-Civ-CF (S.D. Fla.), 386 F. Supp. 866 (S.D. Fla. 1974).

SEC v. R.J. Allen & Associates, Inc., et al., Litigation Release No. 6653 (December 7, 1974) (settled final orders).

SEC v. Investors Associates of America, et al., Civ. Action No. (W.D. Tenn.), Litigation Release No. 6164 (December 4, 1973) (settled final orders).

SEC v. Jackson Municipals Inc., et al., Civ. Action No. ___ (W.D. Tenn.), Litigation Release No. 5763 (February 28, 1973) (settled final orders).

SEC v. Charles A. Morris & Associates, Inc., et al., Civ. Action No. ___ (W.D. Tenn.), Litigation Release No. 5584 (October 26, 1972) (complaint).

SEC v. Charles A. Morris & Associates, Inc., et al., Litigation Release No. 5728 (February 7, 1973) (orders of preliminary injunction).

SEC v. Charles A. Morris & Associates, Inc., et al., Litigation Release No. 6264 (February 28, 1974) (settled final orders and defaults entered).

Administrative Proceedings Commission Decisions

In re Donald T. Sheldon, et al., Exchange Act Release No. 31475, A.P. File No. 3-6626 (November 18, 1992).

In re Edward J. Blumenfeld, Exchange Act Release No. 16437, A.P. File No. 3-5282 (December 19, 1979).

In re Charles Michael West, Exchange Act Release No. 15454, A.P. File No. 3-5255 (January 2, 1979).

Commission Orders Settled Administrative Proceedings

In re Howe, Solomon, Hall, Exchange Act Release No. 40038, A.P. File No. 3-9613 (May 28, 1998).

In re Kent T. Black, Joel L. Hurst, David E. Lynch, Larry E. Muller, and Robert L. McCook, Exchange Act Release No. 39134, A.P. File No. 3-9440 (September 26, 1997).

In re Kent T. Black, Exchange Act Release No. 40218, A.P. File No. 3-9440 (July 16, 1998).

In re Larry E. Muller, Securities Act Release No. 7655, Exchange Act Release No. 41166, A.P. File No. 3-9440 (March 12, 1999).

In re Joel L. Hurst, Securities Act Release No. 7654, Exchange Act Release No. 41165, A.P. File No. 3-9440 (March 12, 1999).

In re Kenneth J. Schulte, Exchange Act Release No. 37494, A.P. File No. 3-9051 (July 30, 1996).

In re Kenneth J. Schulte, Initial Decision Release No. 110, A. P. File No. 3-9051 (April 10, 1997).

In re Kenneth J. Schulte, Exchange Act Release No. 38583 (May 8, 1997).

In re Richard Taylor, Securities Act Release No. 7150, Exchange Act Release No. 35522, Investment Advisors Act Release No. 1480, A.P. File No. 3-8408 (March 22, 1995).

In re Synovus, Securities, Inc., and Clark L. Reed, Jr., Securities Act Release No. 7070, Exchange Act Release No. 34313, Investment Advisers Act Release No. 1423, A.P. File No. 3-8407 (July 5, 1994).

In re Joseph H. Stafford, Exchange Act Release No. 23366, A.P. File No. 3-6626 (June 22, 1986).

In re Hanauer, Stern & Co., Inc., et al., Exchange Act Release No. 21313; A.P. File No. 3-6408 (September 11, 1984).

In re Robert D. Peterson, et al., Exchange Act Release No. 19764, A.P. File No. 3-6249 (May 13, 1983).

In re Robert D. Peterson, et al., Exchange Act Release No. 20293, A.P. File No. 3-6249 (October 17, 1983).

In re J.B. Hanauer & Co., et al., Securities Act Release No. 6381, Exchange Act Release No. 18483, A.P. File No. 3-6095 (February 11, 1982).

In re Richard C. Flick, Exchange Act Release No. 13777 (July 20, 1977).

In re Richard C. Flick, Exchange Act Release No. 14629, A.P. File No. 3-5256 (April 3, 1978).

In re First Mississippi Securities, Inc., et al., Exchange Act Release No. 13779 (July 20, 1977).

In re First Mississippi Securities, Inc., et al., Exchange Act Release No. 14230, A.P. File No. 3-5257 (December 5, 1977).

In re James L. Cody, Inc., James L. Cody, Exchange Act Release No. 10505, A.P. File No. 3-4389 (November 16, 1973).

Administrative Law Judge Decision

In re Lawrence A. Luebbe, A.P. File No. 3-5175 (September 23, 1977).

Failure to Supervise 

Administrative Proceedings - Commission Decisions

In re Sheldon, et al., Exchange Act Release No. 31475, A.P. File No. 3-6626 (November 18, 1992).

In re Boettcher and Company, Exchange Act Release No. 8393, A.P. File No. 3-544 (August 30, 1968).

Commission Orders - Settled Administrative Proceedings

In re Brian M. Cohen, Exchange Act Release No. 40450, A.P. File No. 3-9708 (September 18, 1998)

In re CS First Boston Corp., Jerry L. Nowlin and Douglas J. Montague, Securities Act Release No. 7498, Exchange Act Release No. 39595, A.P. File No. 3-9535 (January 29, 1998).

In re Christopher LaPorte and Government Securities Corporation, Exchange Act Release No. 39171, A.P. File No. 3-9472 (September 30, 1997).

In re Smith Barney, Inc., Exchange Act Release No. 39118, A.P. File No. 3-9426 (September 23, 1997).

In re First Montauk Securities Corp., Exchange Act Release No. 38775, A.P. File No. 3-9342 (June 25, 1997).

Reinvestment of Proceeds 

Injunctive Proceedings

SEC v. Rauscher Pierce Refsnes, Inc. and James R. Feltham, Civ. Action No. CV-98-0027 PHX ROS (D. Ariz.), Litigation Release No. 15613 (January 8, 1998) (complaint).

SEC v. Rauscher Pierce Refsnes, Inc., James R. Feltham and Dain Rauscher Inc., 1998 U.S. Dist. LEXIS 13164 (August 24, 1998).

SEC v. Robert M. Cochran, Michael B. Garrett and Randall W. Nelson, Civ. Action No. 95-1477T (W.D. Okla.), Litigation Release No. 14644 (September 20, 1995) consolidated with SEC v. James V. Pannone and Sakura Global Capital, Inc., Civ. Action No. CIV98-146L (W.D. Okla.), Litigation Release No. 15630 (January 29, 1998) (complaint); Securities and Exchange Commission v. Robert M. Cochran, Randall W. Nelson, James V. Pannone, Steven Strauss, and Sakura Global Capital, Inc., (Order granting in part and denying in part motions for summary judgment of defendants)(January 28, 1999); Litigation Release No. 16063 (February 17, 1999) (settled final orders).

Administrative Proceedings - Commission Decisions

In re Boettcher and Company, Exchange Act Release No. 8393, A.P. File No. 3-544 (August 30, 1968).

Commission Orders - Settled Administrative Proceedings

In re Lazard Freres & Co. LLC, Securities Act Release No. 7671, Exchange Act Release No. 41318, A.P. File No. 3-9880 (April 21, 1999).

In re John E. Thorn Jr., and Thorn Welch & Co., Inc., Securities Act Release No. 7663, Exchange Act Release No. 41233, A.P. File Nos. 3-8400 and 3-9860 (March 31, 1999).

In re Eugene J. Yelverton, Jr., Securities Act Release No. 7662, Exchange Act Release No. 41232, A.P. File No. 3-9859 (March 31, 1999).

In re Kidder, Peabody & Co. Inc., Exchange Act Release No. 41224, A.P. File No. 3-9857 (March 30, 1999).

In re O'Brien Partners, Inc., Securities Act Release No. 7594, Investment Advisers Act Release No. 1772, A.P. File No. 3-9761 (October 27, 1998).

In re Meridian Securities, Inc., and Corestates Capital Markets, Securities Act Release No. 7525, Exchange Act Release No. 39905, A.P. File No. 3-9582 (April 23, 1998).

Reliance on Counsel 

Federal Court

SEC v. Senex Corp., 399 F. Supp. 497 (E.D. KY. 1975).

Administrative Law Judge Decision

In the Matter of Thorn, Alvis, Welch, Inc., John E. Thorn, Jr., and Derryl W. Peden, 61 SEC Docket 2524 (May 2, 1996).



http://www.sec.gov/info/municipal/mbonds/omstoc.shtml


Modified: 01/03/2000