UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

   SECURITIES EXCHANGE ACT OF 1934
   Release No. 42104 / November 4, 1999

   ADMINISTRATIVE PROCEEDINGS
   File Nos. 3-9010 and 3-9168
               In the Matter of
               ANDREW BRESSMAN,
                 ROMAN OKIN,             ORDER MAKING FINDINGS
                 RICHARD ACOSTA,         AND IMPOSING REMEDIAL
                 RICHARD SIMONE,         SANCTIONS AND CEASE
                 BURTON BLANK,           AND DESIST ORDER AS TO
                 MARK GOLDMAN and        ROMAN OKIN
                 JACK WOLYNEZ

                  Respondents.

   I.

   On December 6, 1996 the Securities and Exchange Commission
   ("Commission") issued an order postponing these proceedings at the
   request of the District Attorney of the County of New York to permit
   the grand jury impaneled by the District Attorney to complete its
   investigation into the conduct of the respondents in this action and
   to file any resulting indictments. Since that time, respondents Andrew
   Bressman, Roman Okin, Richard Acosta, Richard Simone, Mark Goldman and
   Jack Wolynez have been indicted by the grand jury and criminally
   convicted in connection with their activities while employed at A.R.
   Baron & Co., Inc.

   In anticipation of the reopening of this proceeding by the Commission,
   Respondent Roman Okin ("Okin" or "Respondent") has submitted an offer
   of settlement which the Commission has determined to accept ("Offer").
   Accordingly, the Commission deems it appropriate to reopen the
   proceeding as to Respondent Okin for the purpose of accepting his
   Offer. Solely for the purpose of this proceeding and any other
   proceeding 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, except as to jurisdiction of the Commission over the
   Respondent and the subject matter of this proceeding, and as to the
   entry of the conviction set forth in paragraph II.B.1. and II.H.
   below, which are admitted, Okin, by his Offer, consents to the
   findings and the imposition of the sanctions and other relief
   contained in this Order Making Findings and Imposing Remedial
   Sanctions and Cease and Desist Order as to Roman Okin ("Order").