UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 34-40914 / 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 : MAYER & SCHWEITZER,
: INC., ROBERT BURNS,
: AND CHRISTOPHER D.
___________________________________: COLGAN
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 Mayer & Schweitzer, Inc.,
Robert Burns, and Christopher D. Colgan and other firms and
individuals. Contemporaneously, Mayer & Schweitzer, Inc.,
Robert Burns, and Christopher D. Colgan ("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 Mayer &
Schweitzer, Inc., Robert Burns, and Christopher D. Colgan
(which are hereinafter referred to as the "Orders").
The Commission has determined that it is appropriate
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
___________________________________: COLGAN
Exchange Act of 1934 and Findings of the Commission ("Order
Instituting Proceedings"), the Securities and Exchange
Contemporaneously, Mayer & Schweitzer, Inc.,
Robert Burns, and Christopher D. Colgan have
entry of the Order Instituting Proceedings and this Order
and in the public interest to accept the Respondents’ Offers
traded in the Nasdaq market.
and, at all relevant times, was an assistant Nasdaq trader
securities traded on the Nasdaq Stock Market.
15c1-2 and 15c2-7 thereunder, in one or more of the respects
Proceedings in a market making transaction or a related
Instituting Proceedings in violation of Section 15of
By reason of the foregoing, Mayer & Schweitzer, Inc.
bank money order,
or the Independent Consultant,
procedures and practices relating to
Independent Consultant shall review such policies,
may recommend changes in or additions to Mayer &
Within three months of receiving recommendations
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