UNITED STATES OF AMERICA
|In the Matter of
|ORDER INSTITUTING PROCEEDING, PURSUANT TO SECTIONS 15(b) AND 19(h) OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS|
The Securities and Exchange Commission deems it appropriate in the public interest and for the protection of investors that a public administrative proceeding be instituted pursuant to Sections 15(b) and 19(h) of the Securities Exchange Act of 1934 ("Exchange Act") against Respondent Vincent Poliseno ("Poliseno" or "Respondent").
In anticipation of the institution of this proceeding, Poliseno has submitted an Offer of Settlement ("Offer") for the purpose of resolving this proceeding, which the Commission has determined to accept. Solely for purposes of this proceeding and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings set forth herein, except the Commission's findings set forth in Paragraph III., which are admitted, Poliseno, by his Offer, consents to an entry of this Order Instituting Proceedings Pursuant to Sections 15(b) and 19(h) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions ("Order").
Accordingly, IT IS HEREBY ORDERED that an administrative proceeding pursuant to Sections 15(b) and 19(h) of the Exchange Act is instituted.
On the basis of this Order and the Offer submitted by Poliseno, the Commission makes the following findings:
A. From 1989 to 1997, Poliseno was associated with D.H. Blair & Co., Inc., a broker-dealer registered with the Commission pursuant to Section 15(b) of the Exchange Act;
B. On February 3, 2000, in an action before the Supreme Court of the State of New York, County of New York, Poliseno pled guilty and was convicted of two felony counts, attempted enterprise corruption and securities fraud in violation of the Martin Act. According to the criminal information upon which his conviction was based, from May 1996 through February 1997, Poliseno intentionally defrauded customers by failing to disclose to them that the securities subject to three public offerings would be sold by principals of the firm at pre-arranged prices; and
C. Poliseno's convictions are offenses specified in Section 15(b)(4)(B)(ii) of the Exchange Act.
In view of the foregoing, the Commission deems it appropriate, in the public interest and for the protection of investors to impose the following sanction specified in Poliseno's Offer of Settlement.
Accordingly, IT IS HEREBY ORDERED that, effective immediately, Poliseno be, and hereby is, barred from association with any broker or dealer.
By the Commission.
Jonathan G. Katz
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