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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
COMMISSION SECURITIES ACT EXCHANGE ACT RESPONDENT FINDINGS PERMANENT DISTRICT UNITED STATES PURSUANT SETTLEMENT MAKING FINDINGS COMMISSION DEEMS HEREBY ROBERT SCHATZ REMEDIAL SANCTIONS PERMANENT INJUNCTION STATES DISTRICT COURT SOUTHERN DISTRICT YORK ENJOINING RESPONDENT FUTURE VIOLATIONS PROMULGATED THEREUNDER PURPOSE ADMITTING BROKER-DEALER JUDGEMENT CIVIL ACTION SWK |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 42278 / December 27, 1999
Administrative Proceeding
File No. 3-10126
________________________
In the Matter of Order Instituting Public
Proceedings, Making Findings
ROBERT A. SCHATZ, and Imposing Remedial Sanctions
Pursuant to Section 15(b) of the
Respondent. Securities Exchange Act of 1934
________________________
I.
The Commission deems it appropriate and in the public interest that
proceedings pursuant to Section 15(b)(6) of the Securities Exchange
Act of 1934 ("Exchange Act") be, and they hereby are, instituted
against Robert A. Schatz ("Respondent") to determine whether remedial
sanctions are necessary in light of the permanent injunction entered
against Respondent by the United States District Court for the
Southern District of New York on December 14, 1999, permanently
restraining and enjoining Respondent from future violations of Section
10(b) of the Exchange Act (15 U.S.C. § 78j(b)) and Rule 10b-5
promulgated thereunder (17 C.F.R. § 240.10b-5), Section 17(a) of the
Securities Act of 1933 ("Securities Act") (15 U.S.C. § 77q(a)), and
Sections 5(a) and 5(c) of the Securities Act (15 U.S.C. §§ 77e(a) and
77e(c)).
In anticipation of the institution of these proceedings, Respondent
has submitted an Offer of Settlement for the purpose of disposing of
the issues raised by these proceedings. The Commission has determined
to accept Respondent's Offer of Settlement.
Solely for the purposes 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, except as
to jurisdiction and as to paragraphs II.A and II.B below, which are
admitted, Respondent consents to the issuance of this Order
Instituting Public Proceedings, Making Findings and Imposing Remedial
Sanctions Pursuant to Section 15(b) of the Exchange Act (the "Order").
II. Findings and Conclusions
SNIPPETS:
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