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SEC News Digest
Issue 2009-196
October 13, 2009
ENFORCEMENT PROCEEDINGS
In the Matter of Peter C. Dunne
On October 13, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Notice of Hearing (Order) against Peter C. Dunne. The Division of Enforcement alleges that Dunne was a registered representative associated with Aura Financial Services, Inc. (Aura), a broker-dealer registered with the Commission, from March 2008 through August 2008. Additionally, the Division alleges that on Sept. 15, 2009, a final judgment was entered against Dunne, permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. Aura Financial Services, Inc., et al., Civil Action Number 09-CIV-21592, in the United States District Court for the Southern District of Florida. The Division alleges that the complaint in that civil action alleged that from April 2008 through August 2008, Dunne "churned" the accounts of two Aura clients by engaging in excessive trading to generate commissions for himself rather than in the clients' interests, and that from May 2008 through July 2008, Dunne engaged in unauthorized trading in the account of one Aura client. (Rel. 34-60815; File No. 3-13646)
In the Matter of Raymond Rapaglia
On October 13, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Notice of Hearing (Order) against Raymond Rapaglia. The Division of Enforcement alleges that Rapgalia was a registered representative associated with Aura Financial Services, Inc. (Aura), a broker-dealer registered with the Commission, from March 2003 through August 2008. Additionally, the Division alleges that on Sept. 15, 2009, a final judgment was entered against Rapaglia, permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. Aura Financial Services, Inc., et al., Civil Action Number 09-CIV-21592, in the United States District Court for the Southern District of Florida. The Division alleges that the complaint in that civil action alleged that from September 2006 through June 2008, Rapaglia made false or misleading statements to two Aura clients and "churned" the accounts of those same clients by engaging in excessive trading to generate commissions for himself rather than in the clients' interests. (Rel. 34-60816; File No. 3-13647)
SECURITIES ACT REGISTRATIONS
RECENT 8K FILINGS
http://www.sec.gov/news/digest/2009/dig101309.htm
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