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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
RESPONDENT INVESTMENT SECURITIES EXCHANGE ACT OTIS HERRING INSTITUTING COMPLAINT ICC INVESTMENT CONTRACTS ADMINISTRATIVE PROCEEDINGS HEREBY BROKER INVESTOR FUNDS PAY MATTER PURSUANT MAKING FINDINGS ADMITTING ENTRY PARAGRAPH INJUNCTION RESPONDENT CONSENTS DEALER DISTRICT COURT VIOLATIONS PROVISIONS FACTS |
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 43272 / September 11, 2000
Administrative Proceeding
File No. 3-10284
In the Matter of
Otis Herring,
Respondent.
ORDER INSTITUTING PUBLIC
ADMINISTRATIVE PROCEEDINGS
PURSUANT TO SECTIONS 15(b) AND 19(h)
OF THE SECURITIES EXCHANGE
ACT OF 1934, MAKING FINDINGS AND
IMPOSING REMEDIAL SANCTIONS
I.
The Securities and Exchange Commission deems it appropriate and in the
public interest and for the protection of investors that
administrative proceedings be instituted against Otis Herring
("Herring" or "Respondent") pursuant to Sections 15(b) and 19(h) of
the Securities Exchange Act of 1934 ("Exchange Act").
In anticipation of the institution of these proceedings, Respondent
has submitted an Offer of Settlement ("Offer") which the Commission
has determined to accept. Solely for the purpose of these proceedings
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
any of the findings contained herein, except as to the jurisdiction of
the Commission over him and over the subject matter of these
proceedings, and the matters set forth in paragraph II. 1. below, and
the entry of the injunction set forth in paragraph II. 3. below, which
are admitted, Respondent consents to the entry by the Commission of
this Order Instituting Public Administrative Proceedings Pursuant to
Sections 15(b) and 19(h) of the Securities Exchange Act of 1934,
Making Findings and Imposing Remedial Sanctions ("Order").
Accordingly, IT IS HEREBY ORDERED that proceedings against Respondent
be and hereby are instituted.
SNIPPETS:
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