SEC v CONCORD INVESTMENT COMPANY - Legal Case Documents


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SEC v CONCORD INVESTMENT COMPANY

Keywords & Phrases

CaseNo: IA-1585, Defendant: Concord Investment Company, Plaintiff: SEC, UniqueCaseRef: SEC>IA-1585, Concord, Commission, Advisers Act, Pursuant, Investment Advisers, Principal Transactions, Violation, United States, Securities, Exchange Commission, Settlement, Issuance, Disclose, Advisory Clients, Money Order, Policies, Compliance, Findings, Affiliated Broker-dealer, Common Control, Bank, Respondent, Investment Company, Party, Prior, Consents, Sanctions, Executing, Form Adv, Conflict , ContentID: 120244948

Case Documents

1996-09-27

SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below ] ItemID: 111685

4 pages
TXT

Total Documents: 1 document , 4 pages

Price: $ 19.95

IVESLCD01 KGI0001

1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS

COMMISSION
ADVISERS ACT
PURSUANT
INVESTMENT ADVISERS
PRINCIPAL TRANSACTIONS
VIOLATION
UNITED STATES
SECURITIES
EXCHANGE COMMISSION
SETTLEMENT
ISSUANCE
DISCLOSE
ADVISORY CLIENTS
MONEY ORDER
POLICIES
COMPLIANCE
FINDINGS
AFFILIATED BROKER-DEALER
COMMON CONTROL
BANK
RESPONDENT
INVESTMENT COMPANY
PARTY
PRIOR
CONSENTS
SANCTIONS
EXECUTING
FORM ADV
CONFLICT

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


                     UNITED STATES OF AMERICA
                           Before the
                SECURITIES AND EXCHANGE COMMISSION



INVESTMENT ADVISERS ACT OF 1940
Release No. 1585 / September 27, 1996

ADMINISTRATIVE PROCEEDINGS
File No. 3-9109


---------------------------------------
                                       :
In the Matter of                       :     ORDER INSTITUTING
                                       :     PUBLIC PROCEEDINGS,
Concord Investment Company             :     MAKING FINDINGS AND
                                       :     IMPOSING REMEDIAL
                                       :     SANCTIONS AND
                                       :     ISSUING A CEASE-
                                       :     AND-DESIST ORDER
                                       :
----------------------------------------
                                I.

     The Securities and Exchange Commission ("Commission") deems
it appropriate and in the public interest that public proceedings
be instituted pursuant to Sections 203(e) and (k) of the
Investment Advisers Act of 1940 ("Advisers Act") against Concord
Investment Company ("Concord").

     In anticipation of the institution of these proceedings,
Concord has submitted an Offer of Settlement which the Commission
has determined to accept.  Solely for the purpose of these
proceedings and any other proceedings brought by or on behalf of
the Commission or in which the Commission is a party, and without
admitting or denying the findings contained in this Order, except
as to jurisdiction and the facts set forth in II.A. below, which
it admits, and prior to a hearing pursuant to the Commission's
Rules of Practice, 17 C.F.R. 201.100 et seq., Concord consents
to the issuance of this order, making findings and imposing
remedial sanctions as set forth below.

     Accordingly, IT IS ORDERED that proceedings pursuant to

SNIPPETS:

The Securities and Exchange Commission deems it appropriate and in the public interest that

Investment Company.

In anticipation of the institution of these proceedings, Concord has submitted an Offer of

Solely for the purpose of these proceedings and any other proceedings brought by or on behalf

below, which it admits, and prior to a hearing pursuant to the Commission's Rules of

During 1992 and 1993, Concord executed approximately 13,000 riskless principal transactions

In addition, Item 9, Schedule F of Part II of the Form ADV, failed to disclose that an

Concord cease and desist from committing or causing any violation, and committing or causing

That Concord shall, within seven days of the date of the Order, pay a civil money penalty in

made by United States postal money order, certified check, bank cashier's check or bank money

---------FOOTNOTES------------ The findings herein are made pursuant to Concord's Offer of

to maintain previously adopted written policies and procedures reasonably designed to prevent

within sixty days of the issuance of the Order to revise its training and procedure manuals


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