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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
INDEPENDENT CONSULTANT EXCHANGE ACT COMMISSION MARKET INSTITUTING PRACTICES SECURITIES RECOMMENDATIONS VIOLATION MAKING TRANSACTION POLICIES RESPONDENT NASDAQ STOCK REASON THEREUNDER PURSUANT FINDINGS FIRMS ENTRY QUOTATIONS RELATED SERIES REVIEW FAILURE IMPROPER REPORT PURPOSE YORK BUSINESS |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 34-40902 / 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 : CANTOR FITZGERALD &
CO.
:
:
___________________________________:
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 Cantor Fitzgerald & Co.
and other firms and individuals. Contemporaneously, Cantor
Fitzgerald & Co. ("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 Cantor Fitzgerald & Co. (which are
hereinafter referred to as the "Orders").
The Commission has determined that it is appropriate
and in the public interest to accept the Respondent’s Offer
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