UNITED STATES OF AMERICA
|In the Matter of
BRIAN W. O'CONNOR,
The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest to institute public administrative proceedings pursuant to Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Brian W. O'Connor ("O'Connor").
In anticipation of the institution of these proceedings, O'Connor has submitted an Offer of Settlement (the "Offer") to the Commission, 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 in which the Commission is a party, and without admitting or denying the findings contained herein, except as to the Commission's jurisdiction, which is admitted, and the entry of the conviction set forth in Paragraph II.C, which is admitted, O'Connor has consented to the entry of this Order Instituting Public Proceedings, Making Findings, and Imposing Remedial Sanction.
Accordingly, IT IS ORDERED that administrative proceedings pursuant to Section 203(f) of the Advisers Act be, and hereby are, instituted against O'Connor.II.
On the basis of this Order and the Offer, the Commission makes the following findings:
A. Brian W. O'Connor & Co, Inc. ("BWOC") was registered with the Commission as an investment adviser pursuant to Section 203(c) of the Advisers Act from January 10, 1994 until June 10, 1998, when its withdrawal from registration became effective.
B. Throughout the time that BWOC operated as a registered investment adviser, O'Connor was its president and sole owner.
C. On September 15, 1999, based upon a plea of guilty by O'Connor, the United States District Court for the Eastern District of New York entered a judgment against O'Connor convicting him of one count of bank fraud and two counts of mail fraud. United States v. Brian W. O'Connor, 98-CR-856. The indictment underlying the conviction charged, among other things, that, at various times between April 1997 and February 1998, while acting as an investment adviser, O'Connor, through the use of unauthorized and forged letters purportedly from his advisory client, defrauded the client and the client's bank by ordering the bank to transfer funds from the client's bank account into BWOC's bank account. O'Connor was sentenced to twenty-one months in prison and four years of supervised release, and ordered to pay a special assessment of $200.00.III.
Based on the foregoing, the Commission deems it appropriate and in the public interest to accept Respondent O'Connor's Offer and to impose the remedial sanction specified in the Offer.
Accordingly, IT IS HEREBY ORDERED, effective immediately, that O'Connor be, and hereby is, barred from association with any investment adviser.
By the Commission.
Jonathan G. Katz
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