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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
BROKER COMMISSION SHAWMUT ADVISERS CLIENTS MICHALSKI SARGENT SECURITIES ADVISERS ACT FIXED-INCOME TRANSACTIONS INVESTMENT ADVISER TRADES MICHIGAN BROKER EXCHANGE COMMISSION PRICE MONEY ORDER RESPONDENTS PURSUANT FINDINGS BOSTON SALESMAN VIOLATION UNITED STATES INSTITUTING SETTLEMENT ACCORDANCE MASSACHUSETTS FIXED-INCOME TRADER PENSION PLAN |
UNITED STATES OF AMERICA
Before The
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT ADVISERS ACT OF 1940
RELEASE NO. 1822 / September 9, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-10006
In the Matter of
KAREN MICHALSKI and
CHRISTOPHER D. SARGENT,
Respondents. ORDER INSTITUTING PUBLIC PROCEEDDINGS PURSUANT TO
SECTIONS 203(f) ADVISERS ACT OF 1940, MAKING SANCTIONS, AND
CEASE-AND-DESIST ORDER
I.
The Securities and Exchange Commission deems it appropriate and in the
public interest that public administrative and cease-and-desist
proceedings be instituted pursuant to Sections 203(f) and 203(k) of
the Investment Advisers Act of 1940 ("Advisers Act") against
Respondents Karen Michalski ("Michalski") and Christopher D. Sargent
("Sargent").
II.
In anticipation of the institution of these proceedings, Michalski and
Sargent have each submitted an Offer of Settlement that 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, except those findings pertaining to the jurisdiction of
the Commission over them and the subject matter of these proceedings,
which they admit, Michalski and Sargent, by their Offers of
Settlement, consent to the entry of the findings and the imposition of
the remedial sanctions and cease-and-desist order set forth herein.
Accordingly, IT IS ORDERED that proceedings pursuant to Sections
203(f) and 203(k) of the Advisers Act be, and hereby are, instituted.
III.
On the basis of this Order Instituting Proceedings Pursuant to
Sections 203(f) and 203(k) of the Investment Advisers Act of 1940,
Making Findings and Imposing Remedial Sanctions, and Cease-and-Desist
Order ("Order") and the Offers of Settlement submitted by Michalski
and Sargent, the Commission makes the following findings
SNIPPETS:
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