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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
SALOMON SMITH SMITH BARNEY INDEPENDENT CONSULTANT COMMISSION EXCHANGE ACT SALOMON BROTHERS PRACTICES SECURITIES INSTITUTING PROCEEDINGS RECOMMENDATIONS MARKET POLICIES RESPONDENT STOCK NASDAQ REASON PURSUANT VIOLATION FINDINGS MAKING TRANSACTION RECOMMEND CHANGES FIRMS SETTLEMENT ENTRY THEREUNDER REVIEW IMPROPER YORK BUSINESS |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 34-40924 / January 11, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-9803
______________________________
:
In the Matter of : ORDER MAKING FINDINGS
: AND IMPOSING SANCTIONS AS TO
CERTAIN MARKET MAKING : SALOMON SMITH BARNEY INC.
ACTIVITIES ON NASDAQ :
:
:
______________________________:
I.
In the accompanying Order Instituting Proceedings
Pursuant to Sections 15(b) and 21C of the Securities
Exchange Act of 1934 and Findings of the Commission ("Order
Instituting Proceedings"), the Securities and Exchange
Commission ("Commission") instituted these public
administrative proceedings against Salomon Smith Barney Inc.
("Salomon Smith Barney" or "Respondent"), as the successor
to Salomon Brothers Inc ("Salomon Brothers"), and other
firms and individuals. Contemporaneously, Respondent has
submitted an Offer of Settlement ("Offer") in anticipation
of the institution of these proceedings, which the
Commission has determined to accept. In its Offer,
Respondent, solely for the purposes of these proceedings and
any other proceedings brought by or on behalf of the
Commission or to which the Commission is a party, prior to a
hearing pursuant to the Commission’s Rules of Practice, and
without admitting or denying the findings herein, except for
the findings of Section II.A., which are admitted, has
consented to the entry of the Order Instituting Proceedings
and this Order Making Findings and Imposing Sanctions as to
Salomon Smith Barney Inc. (which are hereinafter referred to
as the "Orders").
The Commission has determined that it is appropriate
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