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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
ACT STRATCOMM EXCHANGE ACT RESPONDENT BERMAN VIOLATIONS COMMISSION DIVISION ALLEGES COMMON STOCK CEASE-AND-DESIST PROCEEDINGS CRG PAID SALES PROCEEDINGS PURSUANT SELLING BROKER COMMITTING CAUSING SHARES REGISTRATION STATEMENT RESPONDENT BERMAN SOLD REGISTRATION PROVISION FEDERAL SECURITIES LAWS REMEDIAL ACTION PROTECTION INVESTORS PAY DISGORGEMENT PREJUDGMENT CIVIL MONEY PENALTY CEASE FUTURE VIOLATIONS |
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7768 / November 4, 1999
SECURITIES EXCHANGE ACT OF 1934
Release No. 42107 / November 4, 1999
ADMINISTRATIVE PROCEEDING File No. 3-10092
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 for Selling Unregistered Securities and Acting as a Broker
Without Registration
The Securities and Exchange Commission today announced that it
instituted public administrative and cease-and-desist proceedings
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 Jerry C. Berman for
willfully violating, and committing or causing violations of, Section
5 of the Securities Act and Section 15(a)(1) of the Exchange Act.
The Division of Enforcement ("Division") alleges in the Order that
Respondent was a consultant to Stratcomm Media Ltd. ("Stratcomm") and
its wholly-owned subsidiary, Corporate Relations Group, Inc. ("CRG"),
a public relations firm located in Winter Park, Florida.
The Division alleges that Stratcomm and CRG engaged in a substantial
unregistered distribution of Stratcomm common stock from the fall of
1994 through the end of 1995, selling more than 1,000,000 shares and
collecting proceeds of approximately $1,000,000. Stratcomm did not
file a registration statement concerning these common stock sales, nor
was there a registration statement in effect. Moreover, no exemption
from registration was available to Stratcomm.
The Division alleges that Stratcomm and CRG paid commissions to its
sales personnel and other individuals based upon the sales of
Stratcomm common stock they generated. Respondent Berman sold more
than 310,000 shares of Stratcomm common stock in violation of the
registration provision of the federal securities laws, and Stratcomm
and CRG paid him commissions of $50,304.40.
The Division alleges that, during the period October 1994 through
March 1995, Respondent Berman was not registered as a broker.
The Order institutes public administrative and cease-and-desist
SNIPPETS:
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