UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7900 / September 26, 2000
SECURITIES EXCHANGE ACT OF 1934
Release No. 43355 / September 26, 2000
ADMINISTRATIVE PROCEEDING
File No. 3-10309
In the Matter of
William Lee Jeffers
Respondent.
ORDER INSTITUTING PUBLIC
ADMINISTRATIVE AND CEASE-
AND-DESIST PROCEEDINGS
PURSUANT TO SECTION 8A OF
THE SECURITIES ACT OF 1933
AND SECTIONS 15(b), 19(h), AND
21C OF THE SECURITIES
EXCHANGE ACT OF 1934,
MAKING FINDINGS, AND
IMPOSING REMEDIAL
SANCTIONS AND A CEASE-
AND-DESIST ORDER
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate, in the public interest and for the protection of
investors that public administrative and cease-and-desist proceedings
be, and hereby are, instituted pursuant to Section 8A of the
Securities Act of 1933 ("Securities Act") and Sections 15(b), 19(h)
and 21C of the Securities Exchange Act of 1934 ("Exchange Act") to
determine whether William Lee Jeffers ("Jeffers" or "Respondent")
violated the federal securities laws and, if so, what remedial actions
or sanctions are appropriate under the circumstances of this case.
Accordingly, it is hereby ORDERED that these proceedings be, and
hereby are, instituted.
In anticipation of the institution of these administrative
proceedings, Jeffers has submitted an Offer of Settlement ("Offer"),
which the Commission has determined to accept. Solely for the purpose
of these proceedings and any other proceedings brought by or on behalf
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
William Lee Jeffers
ORDER INSTITUTING PUBLIC ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS PURSUANT TO SECTION
21C OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS
The Securities and Exchange Commission deems it appropriate, in the public interest and for
s of this case.
Accordingly, it is hereby ORDERED that these proceedings be, and hereby are, instituted.
In anticipation of the institution of these administrative proceedings, Jeffers has submitted
Solely for the purpose of these proceedings and any other proceedings brought by or on behalf
William Lee Jeffers was associated with broker-dealers registered with the Commission and
In June 1997, Jeffers associated with a broker-dealer firm as a registered representative in
Jeffers pled guilty to one count of securities fraud under Colorado state law.
Between August and October 1998, under Jeffers' management, the account had a turnover rate
In 1998, without withdrawals, the account balance in Client AG's account declined from
Jeffers also placed Client AG in options and had her trade on margin, again unsuitable
In 1998, Jeffers excessively traded her account with the result that her account balance,
As with Client AG, Jeffers had Client MH trade on margin and invest in high-risk funds,
In view of the foregoing, the Commission deems it appropriate, in the public interest and for
Pursuant to Section 8A of the Securities Act and Section 21C of the Exchange Act, Jeffers
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