UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7315 / July 26, 1996
SECURITIES EXCHANGE ACT OF 1934
Release No. 37484 / July 26, 1996
INVESTMENT ADVISERS ACT OF 1940
Release No. 1573 / July 26, 1996
INVESTMENT COMPANY ACT OF 1940
Release No. 22101 / July 26, 1996
ADMINISTRATIVE PROCEEDING
File No. 3-9007
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:
In the Matter of :
:
ROBERT K. WILLIAMS :
: ORDER MAKING FINDINGS,
and : IMPOSING REMEDIAL SANCTIONS,
: AND ISSUING A CEASE-AND-
COLLEGE PLANNING : DESIST ORDER
SERVICES, INC., :
:
Respondents. :
:
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I.
In these proceedings instituted pursuant to Section 8A of
the Securities Act of 1933 ("Securities Act"), Sections 15(b),
19(h) and 21C of the Securities Exchange Act of 1934 ("Exchange
Act"), Sections 203(e), 203(f) and 203(k) of the Investment
Advisers Act of 1940 ("Advisers Act"), and Section 9(b) of the
Investment Company Act of 1940 (Investment Company Act),
Respondents Robert K. Williams ("Williams") and College Planning
Services, Inc. ("CPS") have each submitted an Offer of Settlement
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
INVESTMENT ADVISERS ACT OF 1940
ADMINISTRATIVE PROCEEDING
In these proceedings instituted pursuant to Section 8A of the Securities Act of 1933,
any other proceeding brought by or on behalf of the Commission or in which the Commission is a
Williams and CPS was issued by the Commission on May 21,
below, which are admitted, Williams and CPS by their Offers consent to the findings and the
CPS, of Virginia Beach, Virginia, has been registered with the Commission pursuant to Section
From approximately July 1992 through August 1994, Williams and CPS willfully violated Section
to make the statements made, in the light of the circumstances under which they were made, not
E. As part of the aforesaid conduct described in paragraph II.D.
above, Williams, through CPS, engaged in a scheme to defraud investors by inducing
Williams represented that he would establish individual accounts for each client and invest
In furtherance of the scheme, Williams, through CPS, made false and misleading statements and
F. From approximately July 1992 through August 1994, Williams and CPS willfully violated
cumstances under which they were made, not misleading; or engaged in acts, practices or courses of
From approximately July 1992 through August 1994, CPS, willfully aided and abetted by
lients, as more fully described in paragraph II.E.
203of the Advisers Act, cease and desist from committing or causing any violations and any
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