SEC Open Meeting Agenda
|Item 1:||John J. Kenny and Nicholson/Kenny Capital Management, Inc.|
Office: Office of the General Counsel
Staff: Anne E. Chafer, Joan Loizeaux, Diane V. White
The Commission will hear oral argument on an appeal by John J. Kenny and Nicholson/Kenny Capital Management, Inc., a registered investment adviser, from the decision of an administrative law judge. Kenny is a former associated person of a broker-dealer and chairman and chief executive officer of Nicholson/Kenny.
The law judge found that Kenny engaged in schemes to defraud, in violation of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, and aided, abetted, and was a cause of violations of those provisions by another person. The law judge further found that Kenny and Nicholson/Kenny violated Section 206 of the Investment Advisers Act of 1940.
The law judge barred Kenny from association with any broker, dealer, or investment adviser; revoked Nicholson/Kenny's registration as an investment adviser; ordered respondents to cease and desist from committing or causing violations or future violations of the antifraud provisions; assessed civil penalties of $700,000 against Kenny and $500,000 against Nicholson/Kenny; and ordered respondents, jointly and severally, to pay disgorgement in the amount of $1,333,000.
Among the issues likely to be argued are:
For further information, please contact Diane V. White at (202) 942-0950.
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