UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 43341 / September 26, 2000
ADMINISTRATIVE PROCEEDING
File No. 3-10302
In the Matter of
BERTHA AYALA and
MARITZA GALLE,
Respondent.
ORDER INSTITUTING PUBLIC ADMINISTRATIVE AND CEASE-AND-DESIST
PROCEEDINGS PURSUANT TO SECTIONS 15(b) 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 and in the public interest that public administrative and
cease-and-desist proceedings be instituted against Maritza Galle
("Galle") and Bertha Ayala ("Ayala") pursuant to Sections 15(b) and
21C of the Securities Exchange Act of 1934 ("Exchange Act").
II.
In anticipation of the institution of these proceedings, Galle and
Ayala have submitted Offers of Settlement (the "Offers"), which the
Commission has determined to accept. Solely for the purpose of these
proceedings and any other proceedings brought by or on behalf of the
Commission, or to which the Commission is a party, and without
admitting or denying any of the findings contained herein, except as
to the jurisdiction of the Commission over them and over the subject
matter of these proceedings, which are admitted, and Section III.1.,
below, which Galle admits, and Section III.2., below, which Ayala
admits, Galle and Ayala consent to the entry of this Order Instituting
Public Administrative and Cease-and-Desist Proceedings Pursuant to
Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making
Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
("Order"), by the Commission.
Accordingly, IT IS HEREBY ORDERED that proceedings pursuant to
Sections 15(b) and 21C of the Exchange Act be, and hereby are,
instituted.
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
PROCEEDINGS PURSUANT TO SECTIONS 15AND 21C OF THE SECURITIES
EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS AND A CEASE-AND-DESIST
The Securities and Exchange Commission deems it appropriate and in the public interest that
Solely for the purpose of these proceedings and any other proceedings brought by or on behalf
er Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15and
Accordingly, IT IS HEREBY ORDERED that proceedings pursuant to Sections 15and 21C of the
Respondent Galle, age 34, resides in Hialeah, Florida.
From November 1997 to June 1998, Galle was associated as an unregistered representative of
From November 1997 to June 1998, Galle was also associated as an unregistered representative
While they were associated with Investment Street, Galle and Ayala, who did not hold
Respondent Galle has submitted a sworn financial statement and other evidence and has
On the basis of the foregoing, the Commission deems it appropriate and in the public interest
Galle and Ayala be, and hereby are, suspended from association with any broker or dealer for
Galle and Ayala cease and desist, pursuant to Section 21C of the Exchange Act, from
Ayala shall, within 30 days of the entry of this Order, pay a civil money penalty in the
Such payment shall be made by United States postal money order, certified check, bank
ich cover letter and money order or check shall be sent to Glenn S. Gordon, Assistant Regional
No other issue shall be considered in connection with this petition other than whether the
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