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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
DONALDSON LUFKIN COMMISSION EXCHANGE INDEPENDENT CONSULTANT EXCHANGE ACT LAWRENCE KURTZ RESPONDENTS PRACTICES STOCK INSTITUTING PROCEEDINGS NASDAQ MARKET RECOMMENDATIONS MARKET MAKING VIOLATION POLICIES REASON FINDINGS ENTRY TRADER THEREUNDER MARKET MAKING TRANSACTION MONEY ORDER PURSUANT FIRMS REVIEW BANK |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 34-40906 / 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 : DONALDSON, LUFKIN
: & JENRETTE SECURITIES
: CORPORATION AND
: LAWRENCE H. KURTZ
___________________________________:
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 Donaldson, Lufkin &
Jenrette Securities Corporation, Lawrence H. Kurtz, and
other firms and individuals. Contemporaneously, Donaldson,
Lufkin & Jenrette Securities Corporation and Lawrence H.
Kurtz ("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 Donaldson, Lufkin & Jenrette
Securities Corporation and Lawrence H. Kurtz (which are
hereinafter referred to as the "Orders").
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