UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 8211/March 20, 2003
SECURITIES EXCHANGE ACT OF 1934
Release No. 47544/March 20, 2003
ADMINISTRATIVE PROCEEDING
File No. 3-10765
_________________________________________________________________
In the Matter of
J.W. BARCLAY & CO., INC.,
JOHN A. BRUNO,
MICHAEL J. WILLS,
EDGAR B. ALACAN,
EMMANUEL P. CUBE,
MAYER DALLAL,
DANOO NOOR, SR. ,
EMANUELE A. SCARSO, and
MICHAEL B. SCOTT
Respondents.
_________________________________________________________________
ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS BY DEFAULT
AGAINST DANOO NOOR, SR.
The Securities and Exchange Commission (SEC or Commission) instituted
this proceeding against Danoo Noor, Sr. (Noor), and others on April
24, 2002, pursuant to Section 8A of the Securities Act of 1933
(Securities Act) and Sections 15(b) and 21C of the Securities Exchange
Act of 1934 (Exchange Act). Noor filed a timely answer. The hearing is
scheduled to commence on March 24, 2003.
On March 5, 2003, Noor's counsel filed a motion for leave to withdraw
from representation. Attached to the motion for leave to withdraw was
a letter from Noor, stating "I am ready to proceed with the hearing of
this matter, pro se, on March 24, 2003." I granted counsel's motion to
withdraw on March 6, 2003. On March 18, 2003, Noor wrote a letter to
the Commission's Division of Enforcement (Division), with a copy to
me, stating
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS BY DEFAULT AGAINST DANOO NOOR,
The Securities and Exchange Commission instituted this proceeding against Danoo Noor,
and Sections 15and 21C of the Securities Exchange Act of 1934.
On March 5, 2003, Noor's counsel filed a motion for leave to withdraw from representation.
Attached to the motion for leave to withdraw was a letter from Noor, stating "I am ready to
Pursuant to Rule 155of the Commission's Rules of Practice, 17 C.F.R. § 201.155, I find that
Between June 1997 and January 1999, Noor was associated with J.W. Barclay & Co., Inc..
Between June 1997 and December 1998, Noor engaged in misconduct in the accounts of several of
His violations included unsuitable trading and churning.
Noor also made materially misleading statements and omissions to one of his customers.
By such misconduct, Noor willfully violated Section 17of the Securities Act in that he, in
of the circumstances under which they were made, not misleading; and engaged in transactions,
The Division seeks a cease-and-desist order, an order barring Noor from association with any
The Division also seeks an order requiring Noor to disgorge $125,082, plus prejudgment
At the prehearing conference of March 19, 2003, Noor stated that he did not oppose these
Payment of the civil penalty, disgorgement, and interest shall be made by United States
On March 18, 2003, with the consent of the parties, I granted the Division's motion to amend
The OIP, as amended, alleges that other Barclay registered representatives engaged in
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