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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
SECURITIES COMMISSION MUNICIPAL SECURITIES DISTRICT GEORGIA COMPENSATION COUNSEL OFFERINGS FAILURE UNITED STATES INSTITUTING FINDINGS SANCTIONS PURSUANT MUNICIPAL SECURITIES DEALER VIOLATING COMPLAINT ALLEGES STATES DISTRICT COURT NORTHERN DISTRICT ADMITTING STEPHENS BROKER-DEALER JUDGEMENT THEREUNDER G-17 FINANCE PAYMENTS CONNECTION |
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 42204 / December 6, 1999
ADMINISTRATIVE PROCEEDING File No. 3-10110
In the Matter of
Paschal Gene Allen,
Respondent.
Order Instituting a Proceeding,
Making Findings and Imposing
Remedial Sanctions Pursuant to
Sections 15(b)(6), 15B(c)(4) and
19(h)(3) of the Securities Exchange
Act of 1934
I.
The Commission deems it appropriate and in the public interest to
institute public administrative proceedings pursuant to Sections
15(b)(6), 15B(c)(4) and 19(h)(3) of the Securities Exchange Act of
1934 ("Exchange Act") (15 U.S.C. §§ 78o(b)(6), 78o-4(c)(4) and
78s(h)(3)) to determine what action, if any, is necessary in light of
the entry of a permanent injunction against Paschal Gene Allen on
November 30, 1999, by the United States District Court for the
Northern District of Georgia.
II.
In anticipation of the institution of these proceedings, Allen has
submitted an Offer of Settlement ("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 to
which the Commission is a party, and without admitting or denying the
findings or conclusions contained herein, except for those contained
in Sections III.A., B. and C., which are admitted, Allen consents to
the issuance of this Order, the entry of the findings contained
herein, and the imposition of the sanction set forth below.
III.
The Commission finds that
SNIPPETS:
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