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SEC COMMISSION OPINION
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EXTRACTED KEY WORDS
NASD SECURITIES PRIVATE SECURITIES TRANSACTIONS SECURITIES EXCHANGE ACT PROCEEDING MEMBER FIRM DISCIPLINE VIOLATION COMMISSION TIME MACHINE SANCTIONS CALIFORNIA NOTIFICATION PHILLIPS INVESTMENT NATIONAL ASSOCIATION TIME MACHINE AGREEMENTS EQUITABLE PRINCIPLES REGULATION SECURITIES DEALERS UIS LIMITATIONS PERIODS INVESTORS TIME MACHINE PROJECT DISTRICT COMMITTEE REFERRAL FEE PREJUDICE LOS ANGELES UNITED STATES |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934
Rel. No. 41628 / July 20, 1999
Admin. Proc. File No. 3-9545
_________________________________________________________________
In the Matter of the Application of
Stephen J. Gluckman
P.O. Box 84365
Los Angeles, California 90073
For Review of Disciplinary Proceedings 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
* Failure to Inform Employer of Private Securities Transactions
Person associated with former member firm engaged in private
securities transactions without prior written notification to member.
Held, association's findings of violation and sanctions it imposed are
sustained.
APPEARANCES
Stephen J. Gluckman, pro se.
Alden S. Adkins, Norman Sue, Jr., Susan L. Beesley, and Shannon V.
Lane, for NASD Regulation, Inc.
Appeal filed February 24, 1998
Last brief received June 10, 1998
I.
Stephen J. Gluckman, formerly a registered representative with
United International Securities, Inc. ("UIS"), a member of the
National Association of Securities Dealers, Inc. ("NASD") at the time
of the events at issue, appeals from NASD disciplinaryaction. The NASD
found that Gluckman engaged in two private securities transactions in
violation of NASD Conduct Rules 3040 and 2110. It censured Gluckman,
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