Glen T. Vittor

SECURITIES EXCHANGE ACT OF 1934
Release No. 44782 / September 10, 2001

ADMINISTRATIVE PROCEEDING
File No. 3-10571

I.

The Commission deems it appropriate and in the public interest that administrative proceedings be instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") with respect to Glen T. Vittor ("Vittor").

II.

In anticipation of these proceedings, Vittor has submitted an Offer of Settlement ("Offer"), which the Commission has determined to accept. Solely for the purpose of these proceedings 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 contained herein, except that Vittor admits the jurisdiction of the Commission over him and the subject matter of this proceeding and the matters described in paragraphs III.A, B. and F. of this Order Instituting Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions ("Order"), Vittor has consented to the findings and sanctions set forth below.

Accordingly, IT IS ORDERED that the proceedings pursuant to Section 15(b) of the Exchange Act be, and they hereby are, instituted.

III.

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

A. From April 1990 through at least May 1993, Vittor was associated with Sovereign Equity Management Corporation, a broker-dealer registered with the Commission.

B. On April 27, 2000, the Commission filed a Complaint ("Complaint") against Vittor, among others, in SEC v. Technigen Corporation et al., Civ. No. 98-S-933 (D. Colo.). The complaint alleged that Vittor violated Sections 5(a) and 5(c) of the Securities Act of 1933 ("Securities Act") and Section 10(b) of the Exchange Act, Rules l0b-5, thereunder and Regulation M.

C. The Complaint alleges that from in or about January 1992 through May 1993, Vittor, directly and indirectly, offered and sold shares of Technigen Corporation ("Technigen") at a time when no registration statement was filed or in effect as to such sales and no exemption from registration was available.

D. The Complaint further alleges that, during the same period, Vittor, directly or indirectly, engaged in a distribution of Technigen securities and bid for or purchased, or induced others to purchase, Technigen securities before he had completed his participation in the distribution.

E. The Complaint further alleges that Vittor, through a brokerage firm he formerly owned, Sovereign Equity Management Corporation ("Sovereign"), engaged in manipulative trading in Technigen stock using, among other things, prearranged trading between controlled nominee accounts, matched trades, and a parking arrangement that hid the true ownership of the shares.

F. On June 18, 2001, the United States District Court for the District of Colorado issued a final judgment against Vittor permanently enjoining him from further violations of Sections 5(a) and 5(c) of the Securities Act, Section 10(b) of the Exchange Act, Rule l0b-5 thereunder, and Regulation M.

IV.

In view of the foregoing, it is in the public interest to impose the sanctions specified in the Offer submitted by Vittor. Accordingly, IT IS ORDERED that:

The Respondent, Glen T. Vittor, be and hereby is barred from association with any broker or dealer.

By the Commission.

Jonathan G. Katz
Secretary