UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 8292 / September 25, 2003
SECURITIES EXCHANGE ACT OF 1934
Release No. 48548 / September 25, 2003
ADMINISTRATIVE PROCEEDING
File No. 3-11273
_________________________________________________________________
In the Matter of
HOWARD S. SINGER,
Respondent.
_________________________________________________________________
ORDER INSTITUTING ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS,
MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS AND A
CEASE-AND-DESIST ORDER PURSUANT TO SECTION 8A OF THE SECURITIES ACT OF
1933, AND SECTIONS 15(b) AND 21C OF THE SECURITIES EXCHANGE ACT OF
1934
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 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") against Howard S. Singer ("Singer" or "Respondent").
II.
In anticipation of the institution of these proceedings, Respondent
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 to which the Commission is a party, and without
admitting or denying the findings herein, except as to the
Commission's jurisdiction over him and the subject matter of these
proceedings, which are admitted, Respondent consents to the entry of
SNIPPETS:
UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
ORDER INSTITUTING ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS, MAKING FINDINGS, AND
AND SECTIONS 15AND 21C OF THE SECURITIES EXCHANGE ACT OF
The Securities and Exchange Commission deems it appropriate and in the public interest that
In anticipation of the institution of these proceedings, Respondent has submitted an Offer of
From July 1998 until approximately December 2000, Singer was a securities trader in the Fort
Singer traded government agency securities, including U.S. Treasury securities, for Suncoast.
New York Life Insurance Company, Inc., a mutual insurance company headquartered in New York
New York Life was a customer of Suncoast with regard to certain proprietary investments made
Breckenridge was the Suncoast salesperson for the New York Life account.
From July 1998 to April 1999, Singer executed or reviewed and approved six trades in U.S.
The Treasury trades were principal transactions that involved Suncoast's purchase of
Before purchasing securities from New York Life and executing the Treasury trades, Singer and
Singer was responsible for reviewing the U.S. Treasury trades he executed as well as the
Singer was responsible for ensuring that the trades he executed or reviewed and approved were
Pursuant to Section 8A of the Securities Act and Section 21C of the Exchange Act, Respondent
Pursuant to Section 15of the Exchange Act, Respondent be, and hereby is, suspended from
the amount of $25,000 to the United States Treasury in four equal payments of $6,250, with
Such payment shall be made by United States postal money order, certified check, bank
of which cover letter and money order or check shall be sent to Antonia Chion, Associate Director,
Such civil money penalty may be distributed pursuant to Section 308of the Sarbanes-Oxley Act
To preserve the deterrent effect of the civil penalty, Respondent agrees that he shall not,
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