SEC v TERRY T. STEEN - Legal Case Documents


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SEC v TERRY T. STEEN

Keywords & Phrases

CaseNo: 34-40055, Defendant: Terry T. Steen, Plaintiff: SEC, State: WA Washington, UniqueCaseRef: SEC>34-40055, Securities, Securities Act, Pay Disgorgement, Violations, Appeals, Sales, Respondent, Proceeding, Securities Exchange, Sold, Stat-tech, Commission, Unregistered Securities, Ability, Stat-tech Stock, Law Judge, Registered Securities Association, Dtech, Stat-tech Affiliates, Rms, Transactions, Registered Broker-dealer, National Securities Exchange, Committing, Enforcement, Restricted Securities, Financial Statement, Compliance, Financial Information , ContentID: 120247229

Case Documents

1998-06-02

SEC COMMISSION OPINION
[ see first page and extracted highlights below ] ItemID: 117379

20 pages
TXT

Total Documents: 1 document , 20 pages

Price: $ 19.95

IVESLCD01 KGI0001

1 . SEC COMMISSION OPINION

EXTRACTED KEY WORDS

SECURITIES ACT
LAW
PAY DISGORGEMENT
VIOLATIONS
APPEALS
SALES
RESPONDENT
PROCEEDING
SECURITIES EXCHANGE
SOLD
STAT-TECH
COMMISSION
UNREGISTERED SECURITIES
ABILITY
STAT-TECH STOCK
LAW JUDGE
REGISTERED SECURITIES ASSOCIATION
DTECH
STAT-TECH AFFILIATES
RMS
TRANSACTIONS
REGISTERED BROKER-DEALER
NATIONAL SECURITIES EXCHANGE
COMMITTING
ENFORCEMENT
RESTRICTED SECURITIES
FINANCIAL STATEMENT
COMPLIANCE
FINANCIAL INFORMATION





                          SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     SECURITIES EXCHANGE ACT OF 1934
     Rel. No. 40055 / JUNE 2, 1998

     Admin. Proc. File No. 3-8798

                                             :
               In the Matter of              :
                                             :
               TERRY T. STEEN                :
                                             :


     OPINION OF THE COMMISSION

          BROKER-DEALER PROCEEDING

               Ground for Remedial Action

                    Sale of Unregistered Securities

          Registered representative of a registered broker-dealer sold
          unregistered securities in violation of the securities laws. Held,
it
          is in the public interest to suspend representative from
associating
          with a broker or dealer or member of a national securities
exchange or
          a registered securities association for six months and to order
          respondent to cease and desist from committing or causing any
          violation of Section 5(a) or Section 5(c) of the Securities Act
of
          1933.  The proceeding is remanded for further consideration of
          respondent's ability to pay disgorgement.

     APPEARANCES:

          Daniel F. Wake, of Krendl Horowitz & Krendl, for Terry T. Steen.

          Thomas D. Carter and Polly Atkinson, for the Division of
Enforcement.

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Registered representative of a registered broker-dealer sold unregistered securities in

The proceeding is remanded for further consideration of respondent's ability to pay

appeals from a decision of an administrative law judge.

of the Securities Act of 1933 by selling shares of unregistered common stock in Stat-Tech

The law judge suspended Steen from association with any broker, dealer, or member of a

Steen does not dispute that he sold Stat-Tech securities without a registration statement

RMS hired Steen as an independent contractor and permitted Steen to maintain a personal

Steen's contract with RMS apportioned 80% of the proceeds from profitable transactions to

Rule 144defines "restricted securities" to include securities acquired from the issuer or an