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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
COMMISSION SECURITIES EXCHANGE ACT PROCEEDING FINDINGS PURSUANT ADMINISTRATIVE PROCEEDINGS HEREBY SANCTIONS BROKER-DEALER UNITED STATES DEEMS PROTECTION INVESTORS ADMITS IMPOSING JOLLA DISTRICT PAYMENTS STOCK RETAIL CUSTOMERS COMPENSATION DEFENDANTS PAYMENTS TOTALING JOLLA BROKERS SOLD BROKERS SOLD SHARES RECEIVING COMPENSATION NORMAL COMPENSATION RECOMMENDING |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 41940 / September 29, 1999
Administrative Proceeding
File No. 3-10047
______________________________
ORDER INSTITUTING
ADMINISTRATIVE PROCEEDINGS
In the Matter of PURSUANT TO SECTIONS 15(b)
AND 19(h) OF THE SECURITIES
Mario Iacoviello, EXCHANGE ACT OF 1934,
MAKING FINDINGS, AND IMPOSING
Respondent. REMEDIAL SANCTIONS
______________________________
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate, in the public interest and for the protection of
investors that administrative proceedings pursuant to Sections 15(b)
and 19(h) of the Securities Exchange Act of 1934 ("Exchange Act") be,
and hereby are, instituted against respondent Mario Iacoviello
("Iacoviello").
II.
In anticipation of the institution of these proceedings, Iacoviello
has submitted an Offer of Settlement ("Offer"), which the Commission
has determined is in the public interest and for the protection of
investors to accept. Solely for the purpose of this proceeding, and
any other proceeding brought by or on behalf of the Commission or in
which the Commission is a party, and without admitting or denying the
findings set forth herein, except as to paragraphs III.A. and III.B.
below, which Iacoviello admits, and the jurisdiction of the Commission
over him and over the matters set forth in this Order Instituting
Administrative Proceedings Pursuant To Sections 15(b) And 19(h) Of The
Securities Exchange Act Of 1934, Making Findings, And Imposing
Remedial Sanctions ("Order"), which Iacoviello also admits, Iacoviello
consents to the entry of the findings and the imposition of the
sanctions set forth below.
III.
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