![]() |
![]() |
|||||||||||||||
![]() |
|
![]() |
![]() |
United States of America
|
In the Matter of WILLIAM M. STEPHENS, Respondent. |
: : : : : : |
ORDER MAKING FINDINGS, IMPOSING A CEASE-AND-DESIST ORDER, AND IMPOSING REMEDIAL SANCTIONS |
On June 14, 2000, the Securities and Exchange Commission ("Commission") entered an Order Instituting Public Administrative and Cease-and-Desist Proceedings against William M. Stephens ("Stephens") pursuant to Section 8A of the Securities Act of 1933 ("Securities Act"), Section 21C of the Securities Exchange Act of 1934 ("Exchange Act"), Sections 203(f) and 203(k) of the Investment Advisers Act of 1940 ("Advisers Act"), and Section 9(b) of the Investment Company Act of 1940 ("Company Act") ("Initial Order").1
Stephens has submitted an Offer of Settlement (the "Offer") to these administrative proceedings, which the Commission has determined to accept. Solely for the purpose of these proceedings, and any other proceedings brought by or on behalf of the Commission or in which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission's jurisdiction over him and the subject matter of these proceedings, Stephens consents to the entry of this Order Making Findings, Imposing A Cease-And-Desist Order, and Imposing Remedial Sanctions, as set forth below.
On the basis of this Order and the Offer, the Commission finds that:
Based on the foregoing, the Commission deems it appropriate in the public interest to impose the sanctions specified in the Offer, and
ACCORDINGLY, IT IS ORDERED that:
IT IS FURTHER ORDERED that Stephens shall, within 10 days of the entry of this Order, pay a civil money penalty in the amount of $25,000 to the United States Treasury. Such payment shall be: (A) made by United States postal money order, certified check, bank cashier's check or bank money order; (B) made payable to the Securities and Exchange Commission; (C) hand-delivered or mailed to the Office of Financial Management, Securities and Exchange Commission, Operations Center, 6432 General Green Way, Stop 0-3, Alexandria, VA 22312; and (D) submitted under cover letter that identifies Stephens as a Respondent in these proceedings, the file number of these proceedings, a copy of which cover letter and money order or check shall be sent to Robert Knuts, Senior Trial Counsel, Securities and Exchange Commission, 233 Broadway, New York, NY 10279.
By the Commission.
Jonathan G. Katz
Secretary
Rule 141 of the Commission's Rules of Practice provides that the Secretary, or another duly authorized officer of the Commission, shall serve a copy of the Order, Making Findings, Imposing A Cease-And-Desist Order, And Imposing Remedial Sanctions ("Order") on each person named as a party in the Order and their legal agents.
The attached Order has been sent to the following parties and other persons entitled to notice:
Honorable Brenda P. Murray
Chief Administrative Law Judge
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549-1106
Lidian Pereira, Esq.
Division of Enforcement
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Robert Knuts, Esq.
Northeast Regional Office
Securities and Exchange Commission
233 Broadway
New York, NY 10279
Mr. William M. Stephens
c/o Charles D. Abercrombie, Esq.
Seiff Kretz & Maffeo
645 Madison Avenue
New York, NY 10022-1010
Charles D. Abercrombie, Esq.
Seiff Kretz & Maffeo
645 Madison Avenue
New York, NY 10022-1010
1 The Initial Order inadvertently included Section 9(b) of the Investment Company Act as a jurisdictional basis.
http://www.sec.gov/litigation/admin/33-8143.htm
Home | Previous Page | Modified: 11/05/2002 |