UNITED STATES OF AMERICA
                                    Before the
                        SECURITIES AND EXCHANGE COMMISSION

        SECURITIES EXCHANGE ACT OF 1934
        Release No.  41182 / March 18, 1999


        ADMINISTRATIVE PROCEEDING
        File No.  3-9852

                                   :       ORDER INSTITUTING PUBLIC
        In the Matter of           :       ADMINISTRATIVE PROCEEDINGS
                                   :       PURSUANT TO SECTIONS 15(b)(6)
        JEFFREY L. STREICH,        :       AND 19(h) OF THE SECURITIES
                                   :       EXCHANGE ACT OF 1934, MAKING
                     Respondent.   :       FINDINGS, AND IMPOSING
                                   :       SANCTIONS



                                         I.

             The Securities and Exchange Commission ("Commission") deems it
        appropriate and in the public interest to institute administrative
        proceedings against Jeffrey L. Streich ("Streich") pursuant to
        Sections 15(b)(6) and 19(h) of the Securities Exchange Act of 1934
        ("Exchange Act").

                                         II.

             In anticipation of the institution of this proceeding, Streich
        has submitted an Offer of Settlement, which the Commission has
        determined to accept.  Solely for the purpose of this proceeding and
        any other proceeding brought by or on behalf of the Commission or to
        which the Commission is a party, and without admitting or denying the
        Commission’s findings contained herein, except as to the fact of his
        criminal conviction set forth in paragraph III. below and the
        jurisdiction of the Commission over him, which he admits, Streich
        consents to the entry of findings and the imposition of the remedial
        sanction set forth below.

                                        III.

             The Commission finds[1] the following:

             A.   From March 1994 through August 1995, Streich was associated
        with Beacon Securities, Inc., a now defunct broker-dealer which
        previously was registered with the Commission pursuant to Section
        15(b) of the Exchange Act.  Streich was associated with various other
        broker-dealers prior to that time.

             B.   On November 7, 1997, in an action before the Supreme Court
        of the State of New York, County of New York, Streich pled guilty and
        was convicted of two felony counts, Grand Larceny in the Second
        Degree and Criminal Possession of a Forged Instrument in the Second
        Degree.
        According to the criminal information upon which his conviction was
        based, from in or about June 15, 1995 through in or about July 17,
        1995, Streich stole securities with a value of $440,358 from a
        customer, and on or about June 16, 1995, Streich possessed a forged
        margin account agreement with knowledge that it was forged and with
        the intent to defraud.

                                         IV.

             In view of the foregoing, the Commission deems it appropriate
        and in the public interest to accept the Offer of Settlement
        submitted by Streich.

             Accordingly, IT IS HEREBY ORDERED, that Streich is barred from
        association with any broker, dealer, investment company, investment
        adviser, or municipal securities dealer.

             By the Commission.




                                      Jonathan G. Katz
                                      Secretary





        **FOOTNOTES**

          [1]: The findings herein are made pursuant to Respondent Streich’s Offer of
          Settlement and are not binding on any other person or entity in this or any other
          proceeding.