SEC v BERNARD J. KRISPINSKY RELEASE NOS. 34-41914, IA-1832


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Keywords & Phrases

CaseNo: 34-41914, Defendant: Bernard J. Krispinsky Release Nos. 34-41914, IA-1832, Plaintiff: SEC, UniqueCaseRef: SEC>34-41914, Krispinsky, Investment, Act, Commission, Securities, Exchange Act, Clubs, Advisers Act, Pursuant, Bernard, Findings, Sanctions, Hereby, District, Funds, Losses, Account, Dealer, United States, Administrative Proceeding, Deems, Admitting, Consents, Imposition, Basis, Pennsylvania, Broker-dealer, Permanent Injunction, Scheme, Material Fact , ContentID: 120245285

Case Documents

1999-09-24

SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below ] ItemID: 112024

2 pages
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Total Documents: 1 document , 2 pages

Price: $ 19.95

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1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS

INVESTMENT
ACT
COMMISSION
SECURITIES
EXCHANGE ACT
CLUBS
ADVISERS ACT
PURSUANT
BERNARD
FINDINGS
SANCTIONS
HEREBY
DISTRICT
FUNDS
LOSSES
ACCOUNT
DEALER
UNITED STATES
ADMINISTRATIVE PROCEEDING
DEEMS
ADMITTING
CONSENTS
IMPOSITION
BASIS
PENNSYLVANIA
BROKER-DEALER
PERMANENT INJUNCTION
SCHEME
MATERIAL FACT

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 41914 / September 24, 1999

   INVESTMENT ADVISERS ACT OF 1940
   Release No. 1832 / September 24, 1999

   ADMINISTRATIVE PROCEEDING
   File No. 3-10028

   __________________________________________
   In the Matter of                           ORDER INSTITUTING
                                              PUBLIC PROCEEDINGS,
   BERNARD J. KRISPINSKY                      MAKING FINDINGS AND
                                              IMPOSING REMEDIAL
   Respondent                                 SANCTIONS
   __________________________________________

   I.

   The Securities and Exchange Commission ("Commission") deems it
   appropriate and in the public interest that public administrative
   proceedings be instituted pursuant to Sections 15(b) and 19(h) of the
   Securities Exchange Act of 1934 ("Exchange Act") and Section 203(f) of
   the Investment Advisers Act of 1940 ("Advisers Act") against Bernard
   J. Krispinsky ("Krispinsky").

   In anticipation of the institution of these proceedings, Krispinsky
   has submitted an Offer of Settlement ("Offer") which the Commission
   has determined to accept. Solely for the purpose of this proceeding
   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 herein, except for those set forth below in
   Section II, paragraphs A. and B., which are admitted, Krispinsky, by
   his Offer, consents to the entry of the findings and imposition of
   sanctions contained in this Order Instituting Public Proceedings,
   Making Findings and Imposing Remedial Sanctions ("Order").

   Accordingly, IT IS ORDERED that proceedings, pursuant to Sections
   15(b) and 19(h) of the Exchange Act and Section 203(f) of the Advisers
   Act, against Krispinsky be, and hereby are, instituted.

   II.

   On the basis of this Order and the Offer submitted by Krispinsky, the

SNIPPETS:

UNITED STATES OF AMERICA

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

ADMINISTRATIVE PROCEEDING

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

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

Solely for the purpose of this proceeding and any other proceedings brought by or on behalf tions.

Accordingly, IT IS ORDERED that proceedings, pursuant to Sections 15and 19of the Exchange Act

Bernard J. Krispinsky is a resident of Hermitage, Pennsylvania.

From August 1989 to November 1997, Krispinsky was associated with a broker-dealer registered

On September 23, 1999, an Order of Permanent Injunction was entered against Krispinsky by the

The Order of Permanent Injunction, inter alia, enjoined Krispinsky from future violations of

The Commission's Complaint alleged that between 1995 and 1997, Krispinsky, while acting as an

During the course of the scheme, Krispinsky acted as the funds director of these investment

In an attempt to conceal the losses and induce additional investments, Krispinsky created and

On the basis of the foregoing, the Commission deems it appropriate and in the public interest

Accordingly, IT IS HEREBY ORDERED that Krispinsky be, and hereby is, barred from association


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