SECURITIES ACT OF 1933
Release No. 7712 / August 2, 1999

SECURITIES EXCHANGE ACT OF 1934
Release No. 41690 / August 2, 1999

ADMINISTRATIVE PROCEEDING
File No. 3-9954

PUBLIC ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS INSTITUTED AGAINST RICHMARK CAPITAL CORPORATION AND DOYLE MARK WHITE

The Securities and Exchange Commission ("Commission") today announced the issuance of an Order Instituting Public Administrative and Cease-and-Desist Proceedings pursuant to Section 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 RichMark Capital Corporation ("RichMark"), a broker-dealer registered with the Commission, and Doyle Mark White ("White"), a principal and registered representative associated with RichMark.

In the Order, the Commission's Division of Enforcement alleges that during July and August 1998, RichMark and White willfully violated Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. According to the Order, RichMark and White caused an information brochure, which profiled and recommended the purchase of the stock of a NASDAQ Small Cap Company ("Company") that RichMark had a consulting relationship with and received compensation from, to be circulated to RichMark customers and other broker-dealers. RichMark and White also allowed RichMark registered representatives to cold-call prospective investors to recommend the purchase of the Company's stock. The Order further alleges that RichMark and White failed to disclose that RichMark had a financial incentive to recommend and sell the securities of the Company to its brokerage customers, and other prospective investors. RichMark and White failed to disclose that RichMark was receiving compensation from the Company at the same time that RichMark was recommending the purchase of the Company's stock to its customer. RichMark and White also misled RichMark's customers by recommending that they purchase the Company's stock while RichMark was simultaneously selling its shares of the Company's stock.

A hearing will be scheduled to determine whether the staff's allegations are true, and, if so, what, if any remedial action should be ordered, and whether respondent should be ordered to pay disgorgement and/or civil or penalties.