Nigel A. Ramsay

SECURITIES EXCHANGE ACT OF 1934
Release No. 45463 / February 20, 2002

ADMINISTRATIVE PROCEEDING
File No. 3-10703

I.

The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Respondent Nigel A. Ramsay ("Ramsay" or "Respondent").

II.

In anticipation of the institution of these proceedings, Ramsay 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 as to jurisdiction of the Commission over Respondent and over the subject matter of this proceeding, and except as to paragraphs III.A., and B., below, which are admitted. Respondent Ramsay, by his Offer, consents to the entry of this Order Instituting Public Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions ("Order").

Accordingly, it is ordered that proceedings pursuant to Section 15(b) of the Exchange Act be, and hereby are, instituted.

III.

On the basis of Respondent's Offer and this Order, the Commission finds that:

A. From August 1998 to March 2000, Ramsay was a registered representative associated with R.M. Stark and Co., Inc. ("R.M. Stark"), a broker-dealer registered with the Commission.

B. On February 15, 2001, a federal jury found Ramsay guilty of money laundering in violation of 18 U.S.C. Sections 1956(a)(3)(A) and (B). United States v. Nigel Ramsay, et al., Case No. 99-8150-CR-KLR (S.D. Fla.). In connection with his conviction, Ramsay was sentenced to 51 months in prison.

C. Ramsay's conviction arose out of the conduct of his business as a broker or dealer, because the money laundering scheme involved the use of a brokerage account under Ramsay's control at R.M. Stark.

IV.

In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions specified in the Respondent's Offer, and accordingly,

IT IS HEREBY ORDERED that Ramsay is barred from association with any broker or dealer.

By the Commission.

Jonathan G. Katz
Secretary