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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
SCHLUSSEL EXCHANGE COMMISSION ACT RESPONDENT CRG TRACKER RESPONDENT ALAN VIOLATION CLIENTS PUBLICATIONS COMMON STOCK UNITED STATES PURSUANT PUBLIC RELATIONS MONEY ORDER FINDINGS DISCLOSE RELEVANT TIME BROKERS PAYMENT BANK COMMITTING AMERICA ENTRY THEREUNDER SHARES LADENBURG THALMANN |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7785 / December 17, 1999
SECURITIES EXCHANGE ACT OF 1934
Release No. 42243 / December 17, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-10118
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate in the public interest and for the protection of investors
that a public administrative and cease-and-desist proceeding be, and
hereby is, instituted pursuant to Section 8A of the Securities Act of
1933 ("Securities Act") and Sections 15(b)(6), 19(h) and 21C of the
Securities Exchange Act of 1934 ("Exchange Act") against Respondent
Alan B. Schlussel ("Schlussel"). II.
In anticipation of the institution of these administrative
proceedings, the Respondent has submitted an Offer of Settlement (the
"Offer") 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 contained herein, Respondent
consents to the entry of this Order Instituting Public Administrative
and Cease-and-Desist Proceedings Pursuant to Section 8A of the
Securities Act of 1933 and Sections 15(b)(6), 19(h) and 21C of the
Securities Exchange Act of 1934, Making Findings and Imposing Remedial
Sanctions (the "Order"). III.
On the basis of this Order and the Respondent's Offer, the Commission
makes the following findings
A. Summary
This matter involves violations by Schlussel of Section 17(a) of the
Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5
thereunder in connection with transactions in the common stock of The
Tracker Corporation of America ("Tracker"). In December 1994,
Schlussel, a registered representative, recommended and sold shares of
Tracker common stock to his customers. Schlussel failed to disclose to
his clients that he had been or would be compensated by Corporate
Relations Group, Inc. ("CRG"), a public relations firm that was
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