United States of America
before the
Securities and Exchange Commission
Investment Advisers Act of 1940
Release No. 2178 / September 30, 2003
Administrative Proceeding
File No. 3-11286
_________________________________________________________________
In the Matter of
Matthew P. Brady
Respondent.
_________________________________________________________________
ORDER INSTITUTING< ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS,
MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS AND A
CEASE-AND-DESIST ORDER PURSUANT TO SECTIONS 203(f) AND 203(k) OF THE
INVESTMENT ADVISERS ACT OF 1940
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate and in the public interest that public administrative and
cease-and-desist proceedings be, and hereby are, instituted pursuant
to Sections 203(f) and 203(k) of the Investment Advisers Act of 1940
("Advisers Act") against Matthew P. Brady ("Brady" or "Respondent").
II.
In anticipation of the institution of these proceedings, Brady has
submitted an Offer of Settlement (the "Offer"), which the Commission
has determined to accept. Solely for the purpose of these proceedings
and any other proceedings brought by or on behalf of the Commission,
or in which the Commission is a party, and without admitting or
denying the findings herein, except as to the Commission's
jurisdiction over him and over the subject matter of these
proceedings, which are admitted, Brady consents to the entry of this
Order Instituting Administrative and Cease-and-Desist Proceedings,
Making Findings, and Imposing Remedial Sanctions and a
Cease-and-Desist Order Pursuant to Sections 203(f) and 203(k) of the
Investment Advisers Act of 1940 ("Order"), as set forth below.
III.
SNIPPETS:
Investment Advisers Act of 1940
Respondent.
CEASE-AND-DESIST ORDER PURSUANT TO SECTIONS 203AND 203OF THE
The Securities and Exchange Commission deems it appropriate and in the public interest that
Solely for the purpose of these proceedings and any other proceedings brought by or on behalf
nd-Desist Order Pursuant to Sections 203and 203of the Investment Advisers Act of 1940, as set forth
On the basis of this Order and the Offer, the Commission makes the following findings
At all relevant times, Brady, age 38, was the president and sole shareholder of P&A
In September 1995, Brady was censured and fined $17,500 by the New York Stock Exchange for
In that proceeding, the NYSE also barred Brady from membership, employment or association
Rule 206-4provides that it shall constitute a fraudulent, deceptive, or manipulative act,
A self-regulatory organization proceeding in which an investment adviser was found to have
Each of those ADV filings falsely stated that P&A had assets under management of over
Section 203A of the Advisers Act generally prohibits an adviser that is regulated or required
As described above in paragraph E., P&A failed to meet the monetary qualifications for
Section 204 of the Advisers Act and Rule 204-2 thereunder require every registered investment
H. Under Section 204 of the Advisers Act and Rule 204-3thereunder, P&A was required to
From at least April 1997 through at least March 2000, on certain occasions P&A, at the
At all relevant times, P&A and Brady made use of the mails or means or instrumentalities of
VIOLATIONS
It is hereby ORDERED
IT IS FURTHER ORDERED that Respondent Brady shall, within thirty days of the entry of this
Such payment shall be made by United States postal money order, certified check, bank
f which cover letter and money order or check shall be sent to Leslie Kazon, Esq., Assistant
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