SEC v VIGIL ASSET MANAGEMENT GROUP, et al


\|

Keywords & Phrases

CaseNo: IA-1588, Defendant: Vigil Asset Management Group, Inc. and Thomas Batterman, Plaintiff: SEC, State: IN Indiana, UniqueCaseRef: SEC>IA-1588, Vigil, Advisers Act, Batterman, Violation, Commission, Asset, Order Alleges, Pursuant, Thereunder, Custody, Possession, Client Assets, Securities, Investment Advisers Act, Vigil Asset Management, Asset Management Group, Thomas Batterman, Cease-and-desist Proceedings, Failing, Requisite Procedural Safeguards, Misrepresentations, Omissions, Material Facts, Executing Securities Transactions, Books, Moreover, File Audited Balance, Audited Balance Sheets, Relief, Civil Penalties Pursuant , ContentID: 120244930

Case Documents

1996-09-30

SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below ] ItemID: 111667

2 pages
TXT

Total Documents: 1 document , 2 pages

Price: $ 19.95

IVESLCD01 KGI0001

1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS

ADVISERS ACT
BATTERMAN
VIOLATION
COMMISSION
ASSET
ORDER ALLEGES
PURSUANT
THEREUNDER
CUSTODY
POSSESSION
CLIENT ASSETS
SECURITIES
INVESTMENT ADVISERS ACT
VIGIL ASSET MANAGEMENT
ASSET MANAGEMENT GROUP
THOMAS BATTERMAN
CEASE-AND-DESIST PROCEEDINGS
FAILING
REQUISITE PROCEDURAL SAFEGUARDS
MISREPRESENTATIONS
OMISSIONS
MATERIAL FACTS
EXECUTING SECURITIES TRANSACTIONS
BOOKS
MOREOVER
FILE AUDITED BALANCE
AUDITED BALANCE SHEETS
RELIEF
CIVIL PENALTIES PURSUANT

==========================================START OF PAGE 1======

         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Investment Advisers Act of 1940
Release No. 1588 / September 30, 1996

Administrative Proceeding File No. 3-9128


PROCEEDINGS INSTITUTED AGAINST VIGIL ASSET MANAGEMENT GROUP, INC.
AND THOMAS BATTERMAN

The Commission announced today the entry of an Order instituting
public administrative and cease-and-desist proceedings pursuant
to Sections 203(e), 203(f) and 203(k) of the Investment Advisers
Act of 1940 (Advisers Act) against Vigil Asset Management Group,
Inc. (Vigil) and its President, Thomas Batterman (Batterman).
The Order alleges that Vigil and Batterman willfully violated
Section 207 of the Advisers Act and that Vigil willfully
violated, and Batterman caused and willfully aided and abetted
violations of, Sections 204, 206(1), 206(2), and 206(4) of the
Advisers Act and Rules 204-1(b)(2), 204-2(a)(3), 204-2(a)(12),
206(4)-2(a)(2)(i), 206(4)-2(a)(2)(ii), 206(4)-2(a)(3), 206(4)-
2(a)(4), and 206(4)-2(a)(5) promulgated thereunder.

Specifically, the Order alleges that from May 1993 through
November 1994, Vigil maintained custody and possession of client
assets.  During that same period, Batterman, on behalf of Vigil,
filed with the Commission a Form ADV and a Form ADV-S which, in
violation of Section 207 of the Advisers Act, falsely represented
that Vigil did not have custody and possession of client assets.
Furthermore, despite maintaining such custody and possession,
Vigil failed to enact the requisite procedural safeguards
pursuant to Section 206(4) of the Advisers Act and Rules 206(4)-
2(a)(2)(i), 206(4)-2(a)(2)(ii), 206(4)-2(a)(3), 206(4)-2(a)(4),
and 206(4)-2(a)(5).  In addition, in violation of Sections 206(1)
and 206(2) of the Advisers Act, Vigil, through Batterman, made
misrepresentations and omissions of material facts to its clients
regarding the commissions charged for executing securities
transactions.  During this period, Vigil also violated Section
204 of the Advisers Act and Rules 204-2(a)(3) and 204-2(a)(12)
thereunder by failing to adequately make and keep certain books
and records.  Moreover, Vigil violated Section 204 of the
Advisers Act and Rule 204-1(b)(2) thereunder by failing to file
audited balance sheets with the Commission.

As a result, the Commission has authorized and instituted public

SNIPPETS:

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

PROCEEDINGS INSTITUTED AGAINST VIGIL ASSET MANAGEMENT GROUP,

AND THOMAS BATTERMAN

The Commission announced today the entry of an Order instituting public administrative and

Specifically, the Order alleges that from May 1993 through November 1994, Vigil maintained

During that same period, Batterman, on behalf of Vigil, filed with the Commission a Form ADV

Furthermore, despite maintaining such custody and possession, Vigil failed to enact the

In addition, in violation of Sections 206and 206of the Advisers Act, Vigil, through

Vigil also violated Section 204 of the Advisers Act and Rules 204-2and 204-2thereunder by

Moreover, Vigil violated Section 204 of the Advisers Act and Rule 204-1thereunder by failing

As a result, the Commission has authorized and instituted public administrative and


\|