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SEC COMMISSION OPINION
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EXTRACTED KEY WORDS
SECURITIES ACCOUNT TRADING EXCHANGE ACT SALES BLEVINS INVESTMENT COMMISSION VIOLATIONS FUND LIMITED PARTNERSHIPS CIVIL MONEY PENALTY PLAN ACCOUNTS PENSION MARGIN HERGENREDERS PROCEEDING UNAUTHORIZED TRADING VALUATIONS PRUDENTIAL-BACHE BRUCE BLEVINS RECOMMENDATIONS SALESPERSON PAINEWEBBER TURNOVER RATE PROFIT-SHARING PLAN FUTURE VIOLATION PATTY BLEVINS BLEVINS PRODUCTS |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934
Rel. No. 43410 / October 4, 2000
Admin. Proc. File No. 3-9034
In the Matter of
J. STEPHEN STOUT
6125 Deland Road
Flushing, Michigan 48433
Opinion of the Commission
BROKER-DEALER PROCEEDINGS
Grounds for Remedial Action
Fraud in Offer and Sale of Securities
Former salesperson of registered broker-dealer engaged in unsuitable
and unauthorized trading and made fraudulent statements and omitted
material facts in connection with the offer and sale of securities.
Held, it is in the public interest to bar salesperson from association
with any broker or dealer; to order salesperson permanently to cease
and desist from committing or causing any violation and committing or
causing any future violation of Section 17(a) of the Securities Act of
1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule
10b-5 thereunder; and to order him to pay a civil money penalty of
$300,000.
APPEARANCES
J. Stephen Stout, pro se.
Gregory P. von Schaumburg and Adriane W. Burkland, for the
Division of Enforcement.
Appeal filed January 25, 1999
Last brief received May 28, 1999
I.
J. Stephen Stout, formerly a salesperson in the Flint, Michigan office
of PaineWebber, Inc. ("PaineWebber"), appeals from the decision of an
administrative law judge. The law judge found that Stout had provided
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