Study and Report on Violations by Securities Professionals

Report Pursuant to Section 703 of the Sarbanes-Oxley Act of 2002 – Regarding the number of securities professionals practicing before the Commission who 1) have aided and abetted a violation of the Federal securities laws but who have not been sanctioned, disciplined, or otherwise penalized as a primary violator in any administrative action or civil proceeding, and 2) have been primary violators of the Federal securities laws between 1998 and 2001.