Securities Act of 1933
Release No. 8149 / November 21, 2002

Securities Exchange Act of 1934
Release No. 46863 / November 21, 2002

Investment Advisers Act of 1940
Release No. 2083 / November 21, 2002

Administrative Proceeding
File No. 3-10829

In the Matter of

Schwendiman Partners, LLC,

Respondent.

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:		 ORDER EXTENDING TIME TO COMPLY WITH UNDERTAKING

I.

On July 11, 2002, the Securities and Exchange Commission ("Commission"), instituted public administrative proceedings against Schwendiman Partners, LLC ("Schwendiman") and accepted Schwendiman's Offer of Settlement pursuant to the Order Instituting Proceedings, Making Findings, and Imposing Remedial Sanctions, issued pursuant to Section 8A of the Securities Act of 1933 ("Securities Act"), Section 21C of the Securities Exchange Act of 1934 ("Exchange Act"), and Sections 203(e), 203(f), and 203(k) of the Investment Advisers Act of 1940 ("Advisers Act"), File No. 3-10829 (July 11, 2002) (the "Order").

II.

A. Pursuant to Section III. D. 5. of the Order, Schwendiman undertook to retain, within 60 days of the issuance of the Order, at its expense, an independent consultant (the "Consultant") not unacceptable to the Commission staff, and to require the Consultant to review Schwendiman's existing policies and procedures designed to prevent and detect federal securities laws violations. Pursuant to Section III. D. 11. of the Order, Schwendiman also undertook to require the Consultant to prepare a report making recommendations as to Schwendiman's policies and procedures and require the Consultant to deliver the report to Schwendiman and to the staff of the Commission's Central Regional Office within 120 days of the issuance of the Order.

B. The Consultant retained by Schwendiman has requested that the deadline for completing and delivering the report as specified in Section III. D. 11. of the Order be extended from November 8, 2002 until February 8, 2003.

III.

The Commission deems it appropriate in the public interest to extend until February 8, 2003, the deadline for Schwendiman to comply with its undertaking in Section III. D. 11. of the Order.

IV.

Accordingly, IT IS HEREBY ORDERED THAT the deadline for Schwendiman to require the Consultant to prepare a report making recommendations as to Schwendiman's policies and procedures and to require the Consultant to deliver the report to Schwendiman and to the staff of the Commission's Central Regional Office is hereby extended until February 8, 2003.

By the Commission.

Jonathan G. Katz
Secretary