UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 44456 / June 20, 2001
ADMINISTRATIVE PROCEEDING
File No. 3-10519
_________________________________________________________________
In the Matter of
W. SCOTT LONG, III
Respondent
_________________________________________________________________
ORDER INSTITUTING PUBLIC
ADMINISTRATIVE PROCEEDINGS
PURSUANT TO SECTIONS 15(b) and
19(h)(3) OF THE SECURITIES EXCHANGE
ACT OF 1934, MAKING FINDINGS AND
IMPOSING REMEDIAL SANCTIONS
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate in the public interest and for the protection of investors
to institute public administrative proceedings pursuant to Sections
15(b) and 19(h)(3) of the Securities Exchange Act of 1934 ("Exchange
Act") against Respondent W. Scott Long, III ("Long").
II.
In anticipation of the institution of these proceedings, Respondent
Long submitted an Offer of Settlement ("Offer") to the Commission,
which the Commission has determined to accept. Solely for the purpose
of this proceeding and any other proceeding brought by or on behalf of
the Commission, or in which the Commission is a party, and without
admitting or denying the findings contained herein, except as to the
jurisdiction of the Commission over Respondent Long and over the
subject matter of this proceeding, the findings contained in Section
III.1.-2. below, the entry of an Order of Permanent Injunction and
Other Relief as set forth in Section III.7. below and as to the Final
Judgment Relating to Disgorgement and Civil Penalties set forth in
Section III.9. below which are admitted, Respondent Long by his Offer
consents to the entry of this "Order Instituting Public Administrative
SNIPPETS:
ORDER INSTITUTING PUBLIC ADMINISTRATIVE PROCEEDINGS
19OF THE SECURITIES EXCHANGE
MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS
The Securities and Exchange Commission deems it appropriate in the public interest and for
In anticipation of the institution of these proceedings, Respondent Long submitted an Offer
Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of
the entry of an Order of Permanent Injunction and Other Relief as set forth in Section III.7.
below which are admitted, Respondent Long by his Offer consents to the entry of this "Order
At all relevant times, Kennedy, Mathews, Landis, Healy & Pecora, Inc., was a registered
At all relevant times, Long was the president of Kennedy Mathews; and, he was also associated
At all relevant times, Kennedy Mathews was the underwriter for The AppleTree Companies,
On or about August 20, 1992, the date of the closing of AppleTree's registered offering,
At all relevant times, Long, among others, knew or should have known, but failed, to disclose
On September 30, 1996, the Commission filed an action seeking, among other things, a Final
In pertinent part, the Commission alleged in its complaint that Long (in his capacity as an
On March 3, 2000, the Court entered a Final Judgment Relating to Disgorgement and Civil
the Commission deems it appropriate in the public interest and for the protection of
Respondent Long be, and hereby is, barred from association with any broker or dealer with the
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