Michael William Ribant

SECURITIES EXCHANGE ACT OF 1934
Release No. 34-41741 / August 13, 1999

ADMINISTRATIVE PROCEEDING
File No. 3-9972

I.

The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that a public administrative proceeding pursuant to Sections 15(b) and 19(h) of the Securities Exchange Act of 1934 ("Exchange Act") be instituted against Respondent Michael William Ribant, individually and doing business as Trinity Capital ("Ribant").

II.

In anticipation of the institution of this administrative proceeding, Ribant has submitted an Offer of Settlement ("Offer"), 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 in which the Commission is a party and without admitting or denying the findings contained herein, except that Ribant admits the jurisdiction of the Commission over him and over the subject matter of this proceeding and the entry of a Final Judgment of Permanent Injunction and Other Relief against him as set forth in paragraph III.B., Ribant consents to the entry of this Order Instituting Public Administrative Proceeding, Making Findings and Imposing Remedial Sanctions ("Order") set forth below.

Accordingly, IT IS ORDERED that a proceeding pursuant to Sections 15(b) and 19(h) of the Exchange Act be, and hereby is, instituted.

III.

On the basis of this Order and the Offer submitted by Ribant, the Commission finds that:

A.Ribant is 41 years old and resides in San Diego, California. Since September 1992, Ribant has been registered with the Commission as a broker-dealer (File No. 8-45140) d/b/a Trinity Capital ("Trinity") and located in San Diego, California. Until Trinity's closure in November 1998, Ribant was president, secretary, treasurer, compliance officer and sole owner of Trinity.

B.A Final Judgment of Permanent Injunction and Other Relief Against Defendant Michael William Ribant, dba Trinity Capital ("Final Judgment") was entered in the United States District Court for the Southern District of California against Ribant on May 28, 1999. The Final Judgment permanently enjoins Ribant from violations of Section 17(a) of the Securities Act of 1933, and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. SEC v. Michael William Ribant, dba Trinity Capital, Civil Action No. 98 CV 2096 IEG(POR)(S.D. Cal.).

C.The Commission's Complaint filed in the action described above alleges, among other things, that Ribant operated a broker-dealer, Trinity, located in San Diego, California, from 1992 to November 1998, when he ceased operations and shut his doors. The Complaint further alleges that from as early as 1995 to November 1998, Ribant misappropriated approximately $3.3 million from his securities brokerage customers by selling without client authority, securities in his clients' accounts and transferring the proceeds to bank accounts held in his own name.

IV.

Based on the foregoing, the Commission deems it appropriate and in the public interest to accept the Offer submitted by Ribant and impose the sanctions specified in the Offer.

Accordingly, IT IS HEREBY ORDERED that:

A.    the broker-dealer registration of Michael William Ribant, doing business as Trinity Capital be, and hereby is, revoked; and

B.   Michael William Ribant be, and hereby is, barred from association with any broker or dealer.

By the Commission.

Jonathan G. Katz

Secretary