UNITED STATES OF AMERICA
| ORDER INSTITUTING PUBLIC ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS|
The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest to institute public administrative proceedings pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Respondent R. Christopher Hanna ("Hanna" or "Respondent").
In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement ("Offer") to the Commission, 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 as to the jurisdiction of the Commission over Respondent and over the subject matter of this proceeding, and as to the entry of a Final Judgment of Permanent Injunction and Other Relief as set forth in Section III. C. below, which is admitted by Respondent, Respondent 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"), as set forth below.
On the basis of this Order and the Offer submitted by Respondent, the Commission finds that:
A. At all relevant times, Hanna was a registered representative associated with Donaldson, Lufkin & Jenrette ("DLJ"), an affiliate of Credit Suisse First Boston, a registered broker-dealer.
B. On February 21, 2002, the Commission filed an Amended Complaint seeking a permanent injunction, disgorgement and prejudgment interest thereon, a repatriation order and imposition of a civil money penalty against Hanna. Securities and Exchange Commission v. R. Christopher Hanna, Case No. 02-20531-Civ-Gold (S.D. Fla.). In its Amended Complaint, the Commission alleged that Hanna, while associated with DLJ, misappropriated funds from his clients and made unauthorized securities transactions in client accounts, in violation of the antifraud provisions of the federal securities laws.
C. On May 14, 2003, by Hanna's consent and without admitting or denying the allegations of the Commission's Amended Complaint, the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction and Other Relief, enjoining Hanna from any future violations of Section 17(a) of the Securities Act of 1933 ("Securities Act"), Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
Based on the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions specified in Respondent's Offer.
Accordingly, IT IS ORDERED that:
Respondent R. Christopher Hanna be, hereby is, barred from association with any broker or dealer.By the Commission.
Jonathan G. Katz
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