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SEC COMMISSION OPINION
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EXTRACTED KEY WORDS
GALLAGHER TRADING SECURITIES CUSTOMER COMMISSION ACCOUNT TRADES HANAMOTO SUPERVISE NASD EXCHANGE ACT REVIEW WILSHIRE-DAYTON ACCOUNT VIOLATIONS RECOMMENDATIONS SANCTIONS PROCEEDING WILSHIRE OFFICE DISCIPLINARY ACTION PRINCIPALS NATIONAL ASSOCIATION SUPERVISOR CALIFORNIA EXCESSIVE TRADING INVESTMENT OBJECTIVES RESPONSIBILITY DAVID GLIKSMAN SHORT-TERM TRADING ALYSE GLIKSMAN |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934
Rel. No. 42255 / December 20, 1999
Admin. Proc. File No. 3-9891
_________________________________________________________________
In the Matter of the Application of
HARRY GLIKSMAN
333 South Elm Drive, #201
Beverly Hills, California 90212
and
WILLIAM J. GALLAGHER
2627 Hermosito Drive
Glendale, California 91208
For Review of Disciplinary Action Taken by the
NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
_________________________________________________________________
OPINION OF THE COMMISSION
REGISTERED SECURITIES ASSOCIATION -- REVIEW OF DISCIPLINARY
PROCEEDINGS
Violations of Conduct Rules
Conduct Inconsistent with Just and Equitable Principles of Trade
Suitability
Failure to Supervise
Person associated with member firm recommended to customer unsuitably
frequent and short-term trading. President of member firm failed to
supervise associated person to detect this violation. Held,
association's findings of violation and sanctions it imposed are
sustained.
APPEARANCES
Michael D. Donahue, Dave Lenny, and Susan H. Tregub, of Donahue,
Mesereau & Leids LLP, for Harry Gliksman.
Stephen Acker, Rachel E. Hobbs, and Daphne C. Lin, of Acker,
Kowalick, and Whipple, for William J. Gallagher.
SNIPPETS:
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