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1
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SEC COMMISSION OPINION
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EXTRACTED KEY WORDS
STOIBER EVIDENCE REVES CUSTOMERS COMMISSION NASD RECONSIDER OPINION FINDINGS REGULATION SUPREME PRESUMPTION EXCHANGE ACT INVESTMENT APPLICANT REASON PREPONDERANCE COURT INSTRUMENTS SECURITIES LAWS PERSUASION PETITION SELF-REGULATORY ORGANIZATION AIS CONCLUDING GERALD JAMES STOIBER FACTS BUSINESS LOAN |
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Rel. No. 34-39565 / January 22, 1998
Admin. Proc. File No. 3-8992
:
In the Matter of the Application of :
:
GERALD JAMES STOIBER :
19140 Kristine Trail :
Mokena, Illinois 60448 :
:
For Review of Disciplinary Action Taken by the :
:
NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.:
:
ORDER DENYING REQUEST FOR RECONSIDERATION
On September 22, 1997, we issued an opinion, from which
Commissioner
Hunt dissented, sustaining the findings of the National Association
of
Securities Dealers, Inc. ("NASD") that Stoiber violated Article III,
Sections 1 and 40 of the NASD's Rules of Fair Practice ("NASD's
Rules").
<(1)> Stoiber sold securities in the form of promissory notes to
thirteen of his securities customers without giving prior written
notification to the member with which he was associated, American
Investment Services, Inc. ("AIS"). Stoiber now petitions us to
reconsider
our findings and conclusions, claiming that the NASD did not prove that
the
notes at issue were securities, that we reversed the burden of proof
applicable in a self-regulatory organization disciplinary proceeding,
and
SNIPPETS:
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