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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
KING SECURITIES EXCHANGE COMMISSION BURNETT GREY CIVIL MONETARY PENALTY COMPLAINT COURT LINDA DISTRICT PURSUANT SECURITIES EXCHANGE ACT REQUIRING FINDINGS SANCTIONS ADMINISTRATIVE PROCEEDING CHIEF FINANCIAL OFFICER ASCERTAINING FIRM COMPLIANCE BOOKS REPORTING RULES REGULATIONS CAUSED VIOLATIONS PROVISIONS ISSUANCE SANCTIONS CONTAINED THEREIN SETTLEMENT PAYING MONETARY PENALTY FORTHWITH |
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U.S. Securities and Exchange Commission
Litigation Release No. 15054 / September 18, 1996
SECURITIES AND EXCHANGE COMMISSION v. LINDA M. KING , Civil
Action No. 2:96-0863 (S.D. W.Va.)
The Securities and Exchange Commission announced that on
September 9, 1996, it filed a complaint in the United States
District Court for the Southern District of West Virginia seeking
an order from the Court, pursuant to Section 21(e) of the
Securities Exchange Act of 1934, requiring Linda King ( King ) to
comply with the terms of the Order Making Findings, Imposing
Sanctions And Cease And Desist Order ( Commission s Order ) which
the Commission issued on August 4, 1995 in the administrative
proceeding In the Matter of Burnett Grey & Company, Inc., et al.,
Administrative Proceeding File No. 3-8501 (see Securities
Exchange Act Release No. 36061).
The Complaint alleges that the Commission s Order ordered
King, inter alia, to pay a civil monetary penalty in the amount
of $5,000 within thirty days of the receipt of the order and that
King has failed to do so. The Commission s Order had found that
King was the vice president, secretary, and chief financial
officer of Burnett Grey & Company, Inc. ( Burnett Grey ), a
broker-dealer registered with the Commission, from May 1993 until
January 1994. The Commission s Order further found that King was
responsible for ascertaining the firm s compliance with the
Commission s net capital, books and records, and reporting rules
and regulations and that she aided and abetted and caused
violations by Burnett Grey of those provisions. King had
consented to the issuance of the Commission s Order and the
findings and sanctions contained therein pursuant to her Offer of
Settlement which she submitted to the Commission. The Complaint
seeks an order from the Court requiring that King comply with the
Commission s Order by paying the $5,000 civil monetary penalty
forthwith.
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