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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
COMMISSION EXCHANGE ACT RESPONDENTS BASSETT SECURITIES FORM TA-Y2K PURSUANT INSTITUTING TRANSFER AGENTS FINDINGS ADMINISTRATIVE PROCEEDING IMPOSE CIVIL PENALTY VIOLATIONS THEREUNDER AMOUNT MONEY ORDER PETITION REMEDIES UNITED STATES MATTER SANCTIONS CEASE-AND-DESIST PROCEEDINGS SETTLEMENT ENTRY MAKING FINDINGS IMPOSING ADMITTING HEREBY STAFF |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 41792 / August 26, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-9988
In the Matter of
Bassett Furniture Industries, Inc.,
and Thermal Energy Storage, Inc.
Respondents.
ORDER INSTITUTING
PROCEEDINGS PURSUANT TO
SECTIONS 17A(c)(3) AND 21C OF THE
SECURITIES EXCHANGE ACT OF 1934,
MAKING FINDINGS AND IMPOSING
SANCTIONS
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate and in the public interest to institute public
administrative and cease-and-desist proceedings against Bassett
Furniture Industries, Inc. (File No. 84-0051) ("Bassett"), and Thermal
Energy Storage, Inc. (File No. 84-1300) ("Thermal") (collectively,
"Respondents") pursuant to Sections 17A(c)(3) and 21C of the
Securities Exchange Act of 1934 ("Exchange Act").
II.
In anticipation of the institution of these administrative
proceedings, the Respondents have submitted Offers 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 herein, except for those findings as
to each Respondent, respectively, set forth in paragraphs III. A.
below and the jurisdiction of the Commission over this matter, which
are admitted by the Respondents, Respondents consent to the entry of
this Order Instituting Proceedings Pursuant to Sections 17A(c)(3) and
21C of the Securities Exchange Act of 1934, Making Findings and
Imposing Sanctions ("Order").
Accordingly, IT IS ORDERED that administrative and cease-and-desist
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