UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 42262 / December 21, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-9989
___________________________________
In the Matter of
ORDER MAKING FINDINGS AND
PEACHTREE STOCK TRANSFER, REVOKING REGISTRATION BY DEFAULT
and ROBERT J. CRAIN, JR. AND CEASE AND DESIST ORDER
___________________________________
The Securities and Exchange Commission (Commission) initiated this
proceeding with an Order Instituting Proceedings (OIP) August 26,
1999. The OIP alleges Respondents were registered as transfer agents
under Section 17A(c)(2) of the Securities Exchange Act of 1934
(Exchange Act) and failed to file Part 1 of Form TA-Y2K, due April 30,
1999.
Respondents were served with the OIP on November 5. By the terms of
the OIP and Rule 220(b) of the Commission's Rules of Practice, 17
C.F.R. § 201.220(b), Respondents' Answers were due on or before
November 26. The Commission has not received Answers, correspondence,
or any other pleading from Respondents to date.
On December 10 the Division of Enforcement (Division) filed a Motion
for Entry of Default. The Division seeks, pursuant to the Exchange
Act, revocation of Respondents' transfer agent registration, a cease
and desist order, and a civil penalty of $7,500 against each
Respondent.
Pursuant to Rules 155(a)(1) and (2) and 220(f), a respondent who fails
to file an answer to the OIP or otherwise to defend the proceeding may
be deemed to be in default. The administrative law judge may determine
the proceeding against him on consideration of the record, including
the OIP, the allegations of which may be deemed to be true. On
December 10 Respondents were ordered to show cause, by December 17,
1999, why they should not be held in default and why the sanctions
requested by the Division should not be imposed. No response was
received from either Respondent.
Each Respondent is in default within the meaning of Rule 155(a). Each
failed to answer the OIP and has not otherwise defended the
proceeding. See Rules 155(a)(2) and 220(f). Accordingly, the
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
The Securities and Exchange Commission initiated this proceeding with an Order Instituting
The OIP alleges Respondents were registered as transfer agents under Section 17Aof the
Respondents were served with the OIP on November 5.
The Division seeks, pursuant to the Exchange Act, revocation of Respondents' transfer agent
Pursuant to Rules 155and and 220, a respondent who fails to file an answer to the OIP or
The administrative law judge may determine the proceeding against him on consideration of the
On December 10 Respondents were ordered to show cause, by December 17, 1999, why they should
Each Respondent is a transfer agent registered with the Commission pursuant to Section 17Aof
They qualified for the exemption in Exchange Act Rule 17Ad-13from filing Part II.
Rule 17Ad-18, promulgated under the authority of Section 17of the Exchange Act, requires
These transfer agents were required to make a first filing by August 31, 1998, reporting
Transfer agents were required to file Part I and, if not exempt, Part II, and, with respect
Respondent Peachtree and Respondent Crain each cease and desist from committing or causing
Payment shall be made by December 30, 1999, by certified check, U.S. Postal money order, bank
The remittancesshould identify the Respondentand Administrative Proceeding No. 3-9989 and be
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