Eugene Laff, Stanley Aslanian, Jr., and Lawrence Caito

SECURITIES EXCHANGE ACT OF 1934
Release No. 42182 / November 29, 1999

ADMINISTRATIVE PROCEEDING
File No. 3-9654

I.

ORDER INSTITUTING PROCEEDINGS

On July 23, 1998, the Securities and Exchange Commission deemed it appropriate and in the public interest to institute public administrative proceedings against the Respondent, Eugene K. Laff ("Laff"), pursuant to Section 15(b) and 19(h) of the Securities Exchange Act of 1934 ("Exchange Act").

II.

FINDINGS

Laff has submitted an Offer of Settlement ("Offer") to the Commission, which the Commission has determined to accept. Solely for the purpose of this proceedings 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 findings contained herein except as to jurisdiction and the entry of the injunction, which he admits, Laff has consented to the issuance of this Order Making Findings and Imposing Sanctions.

On the basis of the Order Instituting Proceedings and Laff's Offer of Settlement, the Commission finds that:

A. At all relevant times, Laff was the Chairman of the Board of Directors, Chief Executive Officer, and a controlling shareholder of Haas Securities Corporation, which was a member of the New York Stock Exchange, a broker-dealer registered with the Commission pursuant to Section 15(b) of the Exchange Act [15 U.S.C. §78o(b)], and which, during the relevant time period, was a market maker in several securities traded on the National Association of Securities Dealers Automated Quotation System and on the Boston Stock Exchange.

B. On December 8, 1989, Laff was criminally convicted in the United States District Court for the Southern District of New York on five counts in the indictment, including conspiracy [18 U.S.C. § 371], securities fraud [15 U.S.C. §§78j(b) and 78ff and 17 C.F.R. §240.10b-5], mail fraud [18 U.S.C. §1341] and obstruction of justice [18 U.S.C. §1505]. See United States v. Eugene Laff, 89 Crim. 228 (TPG). On February 27, 1990, the Court sentenced Laff to a term of sixty (60) months for each count, but allowed him to serve the time under each count concurrently.

III.

ORDER

Based on the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions which are set forth herein.

ACCORDINGLY, IT IS HEREBY ORDERED THAT Laff be, and he hereby is, barred from association with any broker or dealer.

By the Commission.

________________________

Jonathan G. Katz
Secretary