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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
LAZARD EXCHANGE ACT PASSAIC VALLEY COMMISSION REFUNDING ESCROW SECURITIES FACTS PRICES MARKET BONDS TREASURY SECURITIES LAZARD FRèRES MUNICIPALITY TRANSACTION FINANCIAL ADVISOR LLC DEBT SERVICE SAVINGS FAIR MARKET UNITED STATES REGULATIONS CONNECTION GOVERNMENT SECURITIES TAX ARBITRAGE OPEN MARKET ADMINISTRATIVE PROCEEDING SETTLEMENT FIDUCIARY OBLIGATIONS MATERIAL OMISSIONS BROKER-DEALER |
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7671 / April 21, 1999
SECURITIES EXCHANGE ACT OF 1934
Release No. 41318 / April 21, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-9880
:
:
In the Matter of : ORDER INSTITUTING ADMINISTRATIVE
: PROCEEDINGS, MAKING FINDINGS
LAZARD FRÈRES & CO. LLC, : OF FACT, INSTITUTING A cease-
: and-desist order, AND
Respondent. : IMPOSING REMEDIAL SANCTIONS
:
:
The Commission deems it appropriate and in the public
interest that public administrative proceedings be, and they
hereby are, instituted pursuant to Section 8A of the
Securities Act of 1933 (Securities Act) and Sections 15(b)(4),
15B(c)(2) and 21C of the Securities Exchange Act of 1934
(Exchange Act) against Lazard Frères & Co. LLC (Lazard).
In anticipation of the institution of these proceedings,
Lazard has submitted an offer of settlement, which the
Commission has determined to accept. Solely for the purpose
of these proceedings and any other proceeding brought by or on
behalf of the Commission or in which the Commission is a
party, Lazard, without admitting or denying the findings con-
tained herein, except that it admits to the jurisdiction of
the Commission over it and over the subject matter of these
proceedings, consents to the entry of the findings, the
institution of the cease-and-desist order, and the imposition
of the remedial sanctions set forth below.
.
SNIPPETS:
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