UNITED STATES OF AMERICA
|In the Matter of
JON MARK STEWART
|ORDER MAKING FINDINGS AND
IMPOSING REMEDIAL SANCTIONS
Respondent Jon Mark Stewart is in default under the Securities and Exchange Commission's ("Commission") Rules of Practice, Rules 155(a)(2) and 220(f), 17 C.F.R. §§ 201.155(a)(2), .220(f), because he failed to answer the Order Instituting Proceedings ("OIP") which the Commission issued on August 3, 1998. He also failed to respond to the show cause order I issued on January 4, 1999.
Accordingly, I find that the allegations in the OIP are true:
A.From October 1991 through November 1996, Respondent was associated as a registered representative with a registered broker-dealer.
B.From November 1991 through February 1992, while associated with a registered broker-dealer, Respondent was also employed as a salesperson at International Communications Specialists, Inc. ("ICS"), an unregistered securities boiler room operation.
C.On July 26, 1996, Respondent pled guilty to one count of an indictment charging him with wire fraud. United States v. Jon Stewart, Case No. 95-8113-CR- RYSKAMP (S.D. Fla. 1995).
D.The indictment alleged that Respondent fraudulently offered and sold investment contracts while employed as a salesperson at ICS.
E.On October 18, 1996, Respondent was sentenced to four months in prison, three years of probation and ordered to pay $332,705 in restitution.
I find further that it is in the public interest to bar Respondent from association with any broker, dealer, national securities exchange, or registered securities association, pursuant to Sections 15(b) and 19(h) of the Securities Exchange Act of 1934 ("Exchange Act").
Accordingly, it is hereby ORDERED that, pursuant to Sections 15(b) and 19(h) of the Exchange Act, Jon Mark Stewart is barred from association with any broker, dealer, national securities exchange, or registered securities association.
Lillian A. McEwen
Administrative Law Judge
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