SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934
Rel. No. 42502 / March 8, 2000
Admin. Proc. File 3-8527-EAJ
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In the Matter of
RITA C. VILLA
Los Angeles, California
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Opinion of the Commission
Equal Access to Justice Act Proceedings
Applicant, who had prevailed in Commission cease and desist
proceedings, sought an award of attorneys' fees and costs under the
Equal Access to Justice Act. , the application is denied since the
Division of Enforcement's position in the underlying action was
substantially justified.
Appearances
, and , of Christensen, Miller, Fink, Jacobs, Glaser, Weil & Shapiro,
LLP, for Rita C. Villa.
, and , for the Division of Enforcement.
Appeal filed
October 15, 1998
Briefing completed
April 12, 1999
I.
The Division of Enforcement appeals from the decision of an
administrative law judge awarding Rita C. Villa attorneys' fees and
costs under the Equal Access to Justice Act ("EAJA"). Villa, a
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
RITA C. VILLA
Applicant, who had prevailed in Commission cease and desist proceedings, sought an award of
, and, of Christensen, Miller, Fink, Jacobs, Glaser, Weil & Shapiro, LLP, for Rita C. Villa.
The Division of Enforcement appeals from the decision of an administrative law judge awarding
One of FCH's two principal subsidiaries was First Capital Life Insurance Company, which was
The Commission action underlying Villa's EAJA claim charged that Villa caused FCH to violate
Villa acknowledged that there was a free flow of information within the group, and that she
Under terms of a $275 million bank credit agreement to which FCH was a party, FCL was
At year-end 1990, absent the reserve credits claimed pursuant to its reinsurance treaties,
In 1990, the California Department of Insurance conducted a regular triennial examination of
the CDI examined FCL's reinsurance treaties and the acceptability of the reserve credits
Villa admitted that she "at least scanned" the Clark letter, and that, logically, she would
Villa, urging the Commission to uphold the law judge's decision, argues that the appropriate
An agency position can be substantially justified even though, in the final analysis, the
Because the standard applied under the EAJA differs from the standard applied in the
In reaching his determination on substantial justification the EAJA law judge stated, "I
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