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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
SAAVEDRA ADVISERS ACT CLIENT BWOC SECURITIES VIOLATION COMMISSION INVESTMENT ADVISERS ACCOUNT STATEMENT ACCORDANCE TRUST MISAPPROPRIATIONS ADVISORY FUNDS FINDINGS CEASE-AND-DESIST ORDER PURSUANT PRESIDENT MISLEADING NORTHEAST REGIONAL OFFICE DEFRAUD EXECUTE MANAGEMENT BANK SALES TRANSACTIONS PROSPECTIVE CLIENT THEREUNDER CONTRACT |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT ADVISERS ACT OF 1940
Release No. 1894 \ August 10, 2000
ADMINISTRATIVE PROCEEDING
File No. 3-10270
In the Matter of
F. XAVIER SAAVEDRA,
Respondent.
ORDER INSTITUTING PUBLIC
PROCEEDINGS, MAKING FINDINGS,
AND ISSUING CEASE-AND-DESIST ORDER
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate to institute public cease-and-desist proceedings pursuant
to Section 203(k) of the Investment Advisers Act of 1940 ("Advisers
Act"), against F. Xavier Saavedra ("Saavedra").
In anticipation of the institution of these proceedings, Saavedra has
submitted an Offer of Settlement ("Offer") to the Commission, 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 in which the Commission is a party, and without
admitting or denying the findings contained herein, except as to the
Commission's jurisdiction over him and over the subject matter of this
proceeding, which is admitted, Saavedra has consented to the entry of
this Order Instituting Public Proceedings, Making Findings, and
Issuing Cease-and-Desist Order ("Order").
Accordingly, IT IS ORDERED that cease-and-desist proceedings pursuant
to Section 203(k) of the Advisers Act be, and hereby are, instituted
against Saavedra.
II.
On the basis of this Order and the Offer, the Commission makes the
following findings
INTRODUCTION
A. Brian W. O'Connor & Co. ("BWOC") was an investment adviser
registered with the Commission. Saavedra, an officer of BWOC, was a
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