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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
INVESTMENT ADVISER HCM COMMISSION RESPONDENTS FUNDS CHESTNUT UNITED STATES MANAGEMENT ADVISERS ACT PURSUANT FINDINGS MISSOURI MISAPPROPRIATION DISTRICT CLIENT FUNDS HEREBY SECURITIES IMPOSING REMEDIAL SANCTIONS KANSAS CITY STEVIN HOOVER CAPITAL MANAGEMENT ORDER MAKING FINDINGS ADMITTING REPRESENTING DELAWARE ACCOUNT HEDGE FUNDS ACCORDING DEFUNCT |
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
INVESTMENT ADVISERS ACT OF 1940
Release No. 2112 / February 26, 2003
ADMINISTRATIVE PROCEEDING
File No. 3-10918
_________________________________________________________________
In the Matter of
STEVIN R. HOOVER and HOOVER CAPITAL MANAGEMENT, INC.,
Respondents.
_________________________________________________________________
ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS PURSUANT TO
SECTIONS 203(e) AND 203(f) OF THE INVESTMENT ADVISERS ACT OF 1940
I.
The Securities and Exchange Commission ("Commission") instituted
public administrative proceedings pursuant to Sections 203(e) and
203(f) of the Advisers Act against Stevin R. Hoover and Hoover Capital
Management, Inc. ("HCM" and collectively, with Hoover, "Respondents")
on October 21, 2002.
II.
Respondents have submitted Offers of Settlement ("Offers") 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 them and the subject matter of these
proceedings and the findings contained in Section III.4 below, which
are admitted, Respondents consent to the entry of this Order Making
Findings and Imposing Remedial Sanctions Pursuant to Sections 203(e)
and 203(f) of the Investment Advisers Act of 1940 ("Order"), as set
forth below.
III.
Respondents
1. Respondent Hoover is the sole owner of HCM, until January 3, 2002,
a registered investment adviser, and Chestnut Management LLC
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