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SEC ADMINISTRATIVE LAW JUDGE DECISION
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EXTRACTED KEY WORDS
MAPCO EXCHANGE ACT INSIDER TRADING COMMISSION VIOLATIONS SECURITIES ADVISERS ACT OIP DOHERTY UNITED STATES INVESTMENT ADVISER ADMINISTRATIVE PROCEEDING SKLAR RESPONDENT WILLIAMS ADMINISTRATIVE LAW JUDGE CIVIL PENALTY ROYAL ALLIANCE ENFORCEMENT OIP ALLEGES NON-PUBLIC INFORMATION ROBERT BRUCE LOHMANN SANCTIONS TELEPHONE CONVERSATION RECOMMENDED MAPCO PROVISIONS FEDERAL DISTRICT COURT ACQUISITION FUTURE VIOLATIONS |
Initial Decision of an SEC Administrative Law Judge
Robert Bruce Lohmann
INITIAL DECISION RELEASE NO. 214
ADMINISTRATIVE PROCEEDING
FILE NO. 3-10611
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
_________________________________________________________________
In the Matter of
ROBERT BRUCE LOHMANN
_________________________________________________________________
INITIAL DECISION
September 19, 2002
APPEARANCES James A. Kidney and Valerie Szczepanik for the Division of
Enforcement, Securities and Exchange Commission.
Martin J. Auerbach for Respondent Lohmann.
BEFORE James T. Kelly, Administrative Law Judge
On September 28, 2001, the Securities and Exchange Commission (SEC or
Commission) issued an Order Instituting Cease-and-Desist and Public
Administrative Proceedings (OIP) against Robert Bruce Lohmann (Lohmann
or Respondent) pursuant to Sections 15(b)(6) and 21C of the Securities
Exchange Act of 1934 (Exchange Act) and Section 203(f) of the
Investment Advisers Act of 1940 (Advisers Act).
The OIP alleges that Lohmann engaged in insider trading violations
prior to the November 24, 1997, public announcement that MAPCO, Inc.
(MAPCO), would be acquired by The Williams Companies (Williams). It
further asserts that, at the time of the purported misconduct, Lohmann
was a registered securities professional and employed as a supervisor
of equity trading at Royal Alliance Associates, Inc. (Royal Alliance),
a registered broker, dealer, and investment adviser. The OIP charges
that Lohmann illegally tipped other persons, including a co-worker who
traded MAPCO stock based on Lohmann's recommendation. The OIP further
asserts that at the time of the tip, Lohmann knew, or was reckless in
not knowing, that the information he received came from an inside
source at MAPCO. The OIP alleges that Lohmann willfully violated
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