Open Meeting Agenda
Monday, February 8, 2010
Agenda as of February 4, 2010. Note that Open Meeting agendas are subject to last-minute changes.
Oral Argument in the Matter of vFinance Investments, Inc. and Richard Campanella
The Commission will hear oral argument in an appeal by vFinance Investments, Inc., a registered broker-dealer (the "Firm"), and Richard Campanella, the Firm's former chief compliance officer (together with the Firm, "Respondents") from the decision of an administrative law judge. The law judge found that the Firm willfully violated Section 17(a) of the Securities Exchange Act of 1934 and Rules 17a-4(b)(4) and 17a-4(j) thereunder, by failing to preserve and promptly produce electronic communications, and that Campanella willfully aided and abetted and caused these violations. The law judge ordered Respondents to cease and desist, censured Campanella, and fined the Firm $100,000 and Campanella $30,000.
Among the issues likely to be argued are whether Respondents are liable as charged, and the elements required to establish aiding and abetting liability in an administrative proceeding. The parties may also address the appropriate sanctions if Respondents are found liable for the alleged violations.
For further information, please contact the Office of the Secretary at 202 551-5400.