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1
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SEC COMMISSION OPINION
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EXTRACTED KEY WORDS
CUSTOMERS SECURITIES EXCHANGE ACT TRADING COMMISSIONS CANADY LAW JUDGE VIOLATION ACCOUNTING SALESPERSON MARGIN BAR BROKER CEASE GRUHL CIR FUTURE VIOLATION INVESTMENT TESTIFYING CUSTOMERS DISGORGEMENT AMOUNT COMMITTING PLUS PREJUDGMENT TURNOVER RATE TESTIMONY FRAUDULENT CONNECTION EXCESSIVE TRADING LIMITATIONS THEREUNDER FASBENDER |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934
Rel. No. 41250 / April 5, 1999
Admin. Proc. File No. 3-8531
________________________________________________
:
In the Matter of :
:
LAURIE JONES CANADY :
Rural Route 1 :
Council Bluffs, Iowa 51503 :
:
________________________________________________:
OPINION OF THE COMMISSION
BROKER-DEALER PROCEEDING
Ground for Remedial Action
Fraud in the Offer and Sale of Securities
Former salesperson of registered broker-dealer churned customer
accounts, engaged in unauthorized and unsuitable 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 or Section 10(b) of the Securities Exchange Act of
1934 and Rule 10b-5 thereunder; and to order salesperson to
disgorge $23,624, less specified set-offs as substantiated by an
accounting, plus prejudgment interest.
APPEARANCES:
Peter A. Cantwell, Paul H. Schleuerlein, and Adrienne R. Watson, of
Cantwell & Cantwell, for Laurie Jones Canady.
Gregory P. von Schaumburg, Jerrold H. Kohn and Richard J. Gorman, for
the Division of Enforcement.
Appeal filed: December 6, 1995
Last brief received: March 27, 1996
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