ADMINISTRATIVE PROCEEDING v H.J. MEYERS & CO


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Keywords & Phrases

CaseNo: 34-40892, Defendant: H.J. MEYERS & CO., Plaintiff: ADMINISTRATIVE PROCEEDING, State: KY Kentucky, UniqueCaseRef: SEC>34-40892, Meyers, Senefeld, Savla, Free-riding, Accounts, Respondent, Purchases, Stock, Exchange Act, Branch Office, Free-riding Scheme, Compliance, Securities, Boston Branch Office, Reports, Extensions, Broker-dealer, Nominee Accounts, Supervise, Exchange Commission, Sale, Employing, Violations, Palomar, Regulation, Compliance Department, Audit, Reasons, Acting, Money , ContentID: 120244581

Case Documents

1999-01-07

SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below ] ItemID: 111315

5 pages
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Total Documents: 1 document , 5 pages

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1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS

SENEFELD
SAVLA
FREE-RIDING
ACCOUNTS
RESPONDENT
PURCHASES
STOCK
EXCHANGE ACT
BRANCH OFFICE
FREE-RIDING SCHEME
COMPLIANCE
SECURITIES
BOSTON BRANCH OFFICE
REPORTS
EXTENSIONS
BROKER-DEALER
NOMINEE ACCOUNTS
SUPERVISE
EXCHANGE COMMISSION
SALE
EMPLOYING
VIOLATIONS
PALOMAR
REGULATION
COMPLIANCE DEPARTMENT
AUDIT
REASONS
ACTING
MONEY

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

   SECURITIES ACT OF 1933
   Release No. 7622/January 7, 1999

   SECURITIES EXCHANGE ACT OF 1934
   Release No. 40892/January 7, 1999

   ADMINISTRATIVE PROCEEDING
   File No. 3-9754

   In the Matter of

   H.J. MEYERS & CO., INC.
   and TOBIN J. SENEFELD
   ORDER MAKING FINDINGS
   AND IMPOSING REMEDIAL
   SANCTIONS BY DEFAULT

   I.

   H.J. Meyers & Co. (H.J. Meyers) is in default under Rule 155(a) of the
   Securities and Exchange Commission's Rules of Practice, 17 C.F.R.
   201.155(a), because it failed to appear at a prehearing conference and
   because it failed to file a response to my Order to Show Cause, which
   I issued on October 29, 1998.

   II.

   Accordingly, I find the following allegations in the Order Instituting
   Proceedings (OIP), dated September 30, 1998, are true

   A. H.J. Meyers has been registered with the Commission as a
   broker-dealer since August 1984 (#8-32427), and during the relevant
   time period engaged in providing retail brokerage services. During the
   relevant time period it maintained sixteen retail sales offices in ten
   states, employing approximately 400 brokers.

   B. Respondent Tobin J. Senefeld (Senefeld) was employed by H.J. Meyers
   and its predecessor, Thomas James Associates, Inc., from August 1994
   to June 1997 and was the branch manager of H.J. Meyers' Boston branch
   office from June 1995 to February 1997. Since June 1997, he has been
   employed as a registered representative by Morgan Keegan & Company, a
   broker-dealer based in Louisville, Kentucky. Rita K. Savla (Savla) was
   employed in the Boston branch office of H.J. Meyers from February 1996
   until July 1996. She presently is unemployed.

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

INC. and TOBIN J. SENEFELD

H.J. Meyers & Co. (H.J.

During the relevant time period it maintained sixteen retail sales offices in ten states,

Since June 1997, he has been employed as a registered representative by Morgan Keegan &

Rita K. Savla was employed in the Boston branch office of H.J. Meyers from February 1996

This matter concerns violations of the antifraud provisions and the credit extension

In or about June 1996, Savla initiated a scheme to engage in free-riding transactions by

To carry out her free-riding scheme, Savla used accounts belonging to her friends.

Upon learning of Savla's free-riding and the resulting profits, Senefeld asked her to open

In order to avoid Savla and himself having to sell at a loss and pay for the stock they