United States of America
before the
Securities and Exchange Commission

Securities Exchange Act of 1934
Rel. No. 47939 / May 29, 2003

Investment Company Act of 1940
Rel. No. 26061 / May 29, 2003

Admin. Proc. File No. 3-9374

NOTICE THAT INITIAL DECISION HAS BECOME FINAL

The time for filing a petition for review of the initial decision in this proceeding has expired. No such petitions have been filed with respect to Hudson Investors Fund, Inc. and Hudson Advisers, Inc. and the Commission has not chosen to review the decision on its own initiative.

Accordingly, notice is hereby given, pursuant to Rule 360(e) of the Commission's Rules of Practice, that the initial decision of the administrative law judge ¹ has become the final decision of the Commission with respect to Hudson Investors Fund, Inc. and Hudson Advisers, Inc. The order contained in the decision with respect to them is hereby declared effective. That order required that Hudson Investors Fund, Inc. cease and desist from committing or causing any violations or any future violation of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, Exchange Act Rule 10b-5, and Section 34(b) of the Investment Company Act of 1940. It further ordered that Hudson Advisers, Inc. cease and desist from committing or causing any violations or any future violation of Section 17(a) of the

Securities Act, Section 10(b) of the Exchange Act, Exchange Act Rule 10b-5, Section 34(b) of the Company Act, Sections 204 and 207 of the Investment Advisers Act of 1940, and Advisers Act Rule 204-1(b).

For the Commission by the Office of the General Counsel, pursuant to delegated authority.

Jonathan G. Katz
Secretary

Endnote

¹ Hudson Investors Fund, Inc., Hudson Advisers, Inc., Javed Anvar Latef, and Larry Alan Stockett, Initial Decision Rel. No. 139 (Mar. 30, 1999), 69 SEC Docket 1365. An opinion was issued by the Commission on March 20, 2003. The Commission ordered Latef to cease and desist and suspended him from association with an investment adviser or investment company for three months. The proceedings were dismissed as to Stockett. Securities Exchange Act Release No. 47542, ___SEC Docket ___.

Initial Decision in this matter

http://www.sec.gov/litigation/aljdec/id139gmbfo.htm