UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 37685 / September 16, 1996 ADMINISTRATIVE PROCEEDING File No. 3-9082 ------------------------- : In the Matter of : ORDER INSTITUTING PROCEEDINGS : PURSUANT TO SECTIONS 15(b) AND Domenick M. Schina, : 19(h) OF THE SECURITIES EXCHANGE : ACT OF 1934, MAKING FINDINGS AND Respondent. : IMPOSING REMEDIAL SANCTIONS : : -------------------------- I. The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Sections 15(b)(6) and 19(h)(3) of the Securities Exchange Act of 1934 ("Exchange Act") against Domenick M. Schina. In anticipation of the institution of these proceedings, Schina has submitted an Offer of Settlement to the Commission, which the Commission has determined to accept. Solely for the purposes of this proceeding and any other proceeding brought by or on behalf of the Commission or in which the Commission is a party, prior to a hearing pursuant to the Commission's Rules of Practice, 17 C.F.R.  201.100 et seq., and, without admitting or denying the findings contained herein, except those contained in paragraphs II.A. and II.B., and the jurisdiction of the Commission over him and the matters set forth in this Order, which are admitted, Schina consents to the institution of public administrative proceedings, and the findings and remedial sanctions set forth below. II. On the basis of this Order and the Offer submitted by Schina, the Commission finds that: -[1]- ---------FOOTNOTES---------- -[1]- The findings herein are made pursuant to Domenick M. Schina's Offer of Settlement and are not binding on any other person or entity named as a respondent in this or any other proceeding. ==========================================START OF PAGE 2====== A. Schina is a resident of Voorhees, New Jersey, and has been a registered representative associated with various broker- dealers since September 1980. From March 1990 through October 1993, Schina was a registered representative with two broker- dealers with offices in New Jersey. B. On September 3, 1996, Schina was permanently enjoined from violations of Sections 5(a), 5(c) and 17(a) of the Securities Act and Section 10(b) of the Exchange Act, and Rules 10b-5 and 10b-6 thereunder, by the United States District Court for the Northern District of Texas (Dallas Division) [SEC v. EnvirOmint Holdings, Inc., et al., 3:94CV-2192-H]. Schina consented to the imposition of the permanent injunction without admitting or denying any violation of the federal securities laws, and without admitting or denying any of the allegations contained in the Commission's complaint against them. C. The Commission's complaint in SEC v. EnvirOmint Holdings, Inc., et al. alleged that Schina engaged in the fraudulent offer and sale of the securities of Enviromint Holdings, Inc., which facilitated and enhanced a fraudulent scheme initiated and conducted by one or more of his co- defendants. III. In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions specified by Schina in his offer. Accordingly, IT IS ORDERED that Domenick M. Schina be, and hereby is, barred from association with any broker, dealer, transfer agent, municipal securities dealer, investment adviser or investment company. By the Commission. Jonathan G. Katz Secretary