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U.S. Securities and Exchange Commission

KAREN MATTESON, Cal. Bar No. 102103
DAVID M. ROSEN, Cal. Bar No. 150880

Attorneys for Plaintiff
Securities and Exchange Commission
Rosalind R. Tyson, Cal. Bar No. 85269
   Acting Regional Director
Sandra J. Harris, Cal. Bar No. 134153
   Associate Regional Director, Enforcement
5670 Wilshire Boulevard, 11th Floor
Los Angeles, California 90036-3648
Telephone: (323) 965-3998
Facsimile: (323) 965-3908

UNITED STATES DISTRICT COURT
FOR THE CENTRAL DISTRICT OF CALIFORNIA
WESTERN DIVISION


SECURITIES AND EXCHANGE COMMISSION,

Plaintiff,

v.

STEPHEN J. FISCHER,

Defendant.


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Case No. 01-10261 GAF (FMOx)

COMPLAINT FOR VIOLATION OF AN ORDER ISSUED BY THE SECURITIES AND EXCHANGE COMMISSION

Plaintiff Securities and Exchange Commission ("Commission"), for its complaint against defendant Stephen J. Fischer ("Fischer"), alleges as follows:

JURISDICTION

1. This Court has jurisdiction over this action pursuant to Section 21(e), 15 U.S.C. § 78u(e), and Section 27, 15 U.S.C. 78aa, of the Securities Exchange Act of 1934 ("Exchange Act").

THE DEFENDANT

2. Stephen J. Fischer resides in Los Angeles, California. Until 1999, Fischer held securities licenses and acted as a registered representative.

FISCHER HAS VIOLATED A COMMISSION ORDER

3. On April 18, 2001, the Commission issued an Order Making Findings And Imposing Remedial Sanctions And Cease-And-Desist Order As To Stephen J. Fischer ("Order") in an administrative proceeding in which Fischer was a respondent. Among other things, the Order required Fischer to pay a $5,000 civil penalty to the United States Treasury. Pursuant to the Order, Fischer was required to pay $3,000 of the penalty by May 18, 2001, and the remaining $2,000 of the penalty by July 17, 2001. Fischer consented to the Order and had actual notice of it. Nevertheless, Fischer has failed to pay any portion of the $5,000 penalty.

CLAIM FOR RELIEF

Violation Of A Commission Order

[15 U.S.C. § 78u(e)]

4. Paragraphs 1 through 3 are realleged and incorporated herein by reference.

5. Fischer's failure to pay the $5,000 civil penalty violated the Order.

6. By reason of the foregoing, Fischer violated, and unless enjoined, will continue to violate the terms of the Commission's Order, which is enforceable by this Court pursuant to Section 21(e) of the Exchange Act, 15 U.S.C. § 78u(e).

PRAYER FOR RELIEF

WHEREFORE, the Commission respectfully requests that this Court:

I.

Issue findings of fact and conclusions of law that Fischer violated the Order as alleged above.

II.

Issue an Order, pursuant to Section 21(e) of the Exchange Act, 15 U.S.C. § 78u(e), requiring Fischer to comply with the Commission's Order to pay the $5,000 civil penalty.

III.

Retain jurisdiction over this action in accordance with the principles of equity and the Federal Rules of Civil Procedure in order to implement and carry out the terms of all orders and decrees that may be entered, or to entertain any suitable application or motion for additional relief within the jurisdiction of this Court.

IV.

Grant such other and further relief as this Court may determine to be just and necessary.

DATED: November 29, 2001 ______/s___________
David M. Rosen
Attorney for Plaintiff
Securities and Exchange Commission


http://www.sec.gov/litigation/litreleases/complaints/complr17254.htm

Modified: 11/20/2001