SEC v STEPHEN B. CARLSON - Legal Case Documents


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SEC v STEPHEN B. CARLSON

Keywords & Phrases

CaseNo: 34-40672, Defendant: Stephen B. Carlson, Plaintiff: SEC, State: WA Washington, UniqueCaseRef: SEC>34-40672, Carlson, Securities, Stock, Threatening, Nasd, Erber, Committee, Teletek, Violation, Impose, Principles, Sanctions, District Committee, Price, Commission, Disciplinary Action, Intimidating, Review, Equitable Principles, Trade, Coercion, Findings, Sustain, Delisting, Audio Tape, Bouchy, Securities Industry, Misconduct, Shares, Nasd Staff , ContentID: 120247206

Case Documents

1998-11-12

SEC COMMISSION OPINION
[ see first page and extracted highlights below ] ItemID: 117356

8 pages
TXT

Total Documents: 1 document , 8 pages

Price: $ 19.95

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1 . SEC COMMISSION OPINION

EXTRACTED KEY WORDS

SECURITIES
STOCK
THREATENING
NASD
ERBER
COMMITTEE
TELETEK
VIOLATION
IMPOSE
PRINCIPLES
SANCTIONS
DISTRICT COMMITTEE
PRICE
COMMISSION
DISCIPLINARY ACTION
INTIMIDATING
REVIEW
EQUITABLE PRINCIPLES
TRADE
COERCION
FINDINGS
SUSTAIN
DELISTING
AUDIO TAPE
BOUCHY
SECURITIES INDUSTRY
MISCONDUCT
SHARES
NASD STAFF

                          SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.


          SECURITIES EXCHANGE ACT OF 1934
          Rel. No. 40672/ November 12, 1998

          Admin. Proc. File No. 3-9481

           -------------------------------------------------
                 In the Matter of the Application of       |
                                                           |
                          STEPHEN B. CARLSON               |
                        c/o Eric J. Peck, Esq.             |
                     Lindquist & Vennum P.L.L.P.           |
                           4200 IDS Center                 |
                        80 South Eighth Street             |
                    Minneapolis, Minnesota  55402          |
                                                           |
            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 Rules of Fair Practice

                         Conduct Inconsistent with Just and Equitable
                         Principles of Trade

                    Former general securities principal and president of
former
               member firm violated just and equitable principles of trade
               when he used threats, coercion, and intimidation in an
               attempt to obtain stock at below-market prices.  Held,
               association's findings of violation and sanctions are
               sustained.

          APPEARANCES:

               Terrence J. Fleming, and Eric J. Peck, of Lindquist &
          Vennum, P.L.L.P., for Stephen B. Carlson.

               Alden S. Adkins, Norman Sue, Jr., and Jeffrey S. Davis, for
          NASD Regulation, Inc.

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

REGISTERED SECURITIES ASSOCIATION -- REVIEW OF DISCIPLINARY

member firm violated just and equitable principles of trade

Stephen B. Carlson, formerly the sole owner, general securities principal, and president of

The NASD found that Carlson attempted to obtain stock at below-market prices by using a

We base our findings on an independent review of the record.

he asks that we modify the sanctions imposed on him.

Carlson was Aspen's sole owner, general securities principal, and president during the time

In March, April and May of 1994, Aspen took a short position in the stock of Teletek,

Carlson believed that Erber was a former member of the securities industry and a convicted

Carlson also believed that Erber was promoting and manipulating the price of Teletek stock.