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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
COMMISSION EXCHANGE ACT SECURITIES CLARK RESPONDENTS PRACTICES WILLIAM INDEPENDENT CONSULTANT ORDER INSTITUTING PROCEEDINGS FIRMS DSPG STOCK PRICES FINDINGS PAINEWEBBER RECOMMENDATIONS NASDAQ MARKET COORDINATING QUOTATIONS NASDAQ TRADER CUSTOMERS THEREUNDER FUTURE VIOLATION EQUALLY EFFECTIVE ALTERNATIVES ADMINISTRATIVE PROCEEDING ACCOMPANYING ORDER INSTITUTING RELEVANT TIMES SELL DSPG STOCK MONEY ORDER CONNECTION |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 34-40918 / January 11, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-9803
___________________________________
:
In the Matter of : ORDER MAKING
FINDINGS : AND IMPOSING
CERTAIN MARKET MAKING : SANCTIONS AS TO
ACTIVITIES ON NASDAQ : CIBC OPPENHEIMER
: CORP. AND WILLIAM
: G. CLARK, JR.
___________________________________:
I.
In the accompanying Order Instituting Proceedings
Pursuant to Section 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 CIBC Oppenheimer Corp.,
William G. Clark, Jr., and others firms and individuals.
Contemporaneously, CIBC Oppenheimer Corp. and William G.
Clark, Jr. ("Respondents") have submitted Offers of
Settlement ("Offers") in anticipation of the institution of
these proceedings, which the Commission has determined to
accept. In their Offers, Respondents, 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, have consented to the
entry of the Order Instituting Proceedings and this Order
Making Findings and Imposing Sanctions as to CIBC
Oppenheimer Corp. and William G. Clark, Jr. (which are
hereinafter referred to as the "Orders").
The Commission has determined that it is appropriate
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