SEC v JAMES HARVEY THORNTON and PAYNE & THORNTON, INC


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Keywords & Phrases

CaseNo: 34-41007, Defendant: James Harvey Thornton and Payne & Thornton, Inc., Plaintiff: SEC, State: DC Washington D.C., UniqueCaseRef: SEC>34-41007, Thornton, Securities, Exchange Act, Retirement, Commission, Investment, Supervise, Registered Representatives, Reasonableness, Griseuk, Broker-dealer, Violations, Securities Laws, Failure, Penalty, Capacity, Supervisory, D/b/a Retirement Investment, Retirement Investment Group, Preventing, James Harvey Thornton, Applicants, Penny Stock, Supervision, Complaints, Provisions, Non-supervisory, Disciplinary History, Compliance, Penny Stock Fraud , ContentID: 120247197

Case Documents

1999-02-01

SEC COMMISSION OPINION
[ see first page and extracted highlights below ] ItemID: 117347

12 pages
TXT

Total Documents: 1 document , 12 pages

Price: $ 19.95

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1 . SEC COMMISSION OPINION

EXTRACTED KEY WORDS

SECURITIES
EXCHANGE ACT
RETIREMENT
COMMISSION
INVESTMENT
SUPERVISE
REGISTERED REPRESENTATIVES
REASONABLENESS
GRISEUK
BROKER-DEALER
VIOLATIONS
SECURITIES LAWS
FAILURE
PENALTY
CAPACITY
SUPERVISORY
D/B/A RETIREMENT INVESTMENT
RETIREMENT INVESTMENT GROUP
PREVENTING
JAMES HARVEY THORNTON
APPLICANTS
PENNY STOCK
SUPERVISION
COMPLAINTS
PROVISIONS
NON-SUPERVISORY
DISCIPLINARY HISTORY
COMPLIANCE
PENNY STOCK FRAUD

                          SECURITIES AND EXCHANGE COMMISSION
                                   Washington D.C.



          SECURITIES EXCHANGE ACT OF 1934
          Rel. No. 41007 / February 1, 1999

          Admin. Proc. File No. 3-9046

          ____________________________________________
                                                      :
                         In the Matter of             :
                                                      :
                      JAMES HARVEY THORNTON           :
                                                      :
                               and                    :
                                                      :
                     PAYNE & THORNTON, INC.,          :
                d/b/a RETIREMENT INVESTMENT GROUP     :
          ____________________________________________:

          OPINION OF THE COMMISSION

               BROKER-DEALER PROCEEDINGS

                    Ground for Remedial Action

                         Failure to Supervise

               Registered broker-dealer and its president failed reasonably
               to supervise registered representative with a view to
               preventing representative's violations of antifraud
               provisions of the securities laws.  Held, in the public
               interest to order the broker-dealer to pay a $50,000 penalty
               and to revoke its registration and to order president to pay
               a $5,000 penalty and to bar him in all capacities from
               association with any broker-dealer with a right to reapply
               in non-proprietary and non-supervisory capacity after three
               years.

          APPEARANCES:

               Christopher A. Colvert, for James Harvey Thornton and Payne
          & Thornton, Inc., d/b/a Retirement Investment Group.

               Christian R. Bartholomew, for the Division of Enforcement.

          Appeal filed: April 15, 1997

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

Failure to Supervise

Registered broker-dealer and its president failed reasonably

preventing representative's violations of antifraud

provisions of the securities laws.

interest to order the broker-dealer to pay a $50,000 penalty

Christopher A. Colvert, for James Harvey Thornton and Payne & Thornton, Inc., d/b/a

Payne & Thornton, Inc., d/b/a Retirement Investment Group, a registered broker-dealer, and

The law judge found that, between July 25, 1991, and November 1991, Applicants failed

The law judge also barred Thornton from association with any broker-dealer or member of a

This case concerns the Applicants' alleged failure to supervise Griseuk between July 25,