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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
COMMISSION RUSCETTI PAPARIELLA SECURITIES EXCHANGE ACT ACCOUNTS PURSUANT CUSTOMER ACCOUNTS INDEPENDENT CONSULTANT HARVEST FINANCIAL CORPORATION RECOMMENDATIONS RESPONDENT UNITED STATES AMENDED ORDER SETTLEMENT ADMINISTRATIVE PROCEEDING AMENDED ORDER INSTITUTING SUPERVISORY INVESTMENT OBJECTIVES TIME PERIOD REGISTERED REPRESENTATIVES COMMISSION STAFF VIOLATIONS TRADING ACTIVITY ORDER MAKING FINDINGS COMPLIANCE TURNOVER RATIOS EQUITY RATIOS MONEY ORDER |
United States of America
before the
Securities and Exchange Commission
Securities Exchange Act of 1934
Release No. 34-47255 / January 24, 2003
Administrative Proceeding
File No. 3-10739
_________________________________________________________________
In the Matter of
HARVEST FINANCIAL CORPORATION and FRANK D. RUSCETTI,
Respondent.
_________________________________________________________________
AMENDED ORDER INSTITUTING CEASE-AND-DESIST PROCEEDING PURSUANT TO
SECTION 21C OF THE SECURITIES EXCHANGE ACT OF 1934 AS TO HARVEST
FINANCIAL CORPORATION, AND ORDER MAKING FINDINGS AND IMPOSING REMEDIAL
SANCTIONS AND CEASE-AND-DESIST ORDER
I.
An Order Instituting Public Administrative and Cease-and-Desist
Proceedings against Harvest Financial Corporation, Frank D. Ruscetti
and Robert A. Papariella ("OIP") was issued by the Securities and
Exchange Commission ("Commission") on March 25, 2002. In these
proceedings instituted pursuant to Sections 15(b) and 21C of the
Securities Exchange Act of 1934 ("Exchange Act"), Respondent Frank D.
Ruscetti ("Ruscetti") has submitted an Offer of Settlement which the
Commission has determined to accept. Further, the Commission now deems
it appropriate to issue an Amended Order Instituting Cease-and-Desist
Proceeding Pursuant to Section 21C of the Exchange Act ("Amended
Order") against Harvest Financial Corporation ("Harvest"). The
cease-and-desist proceeding being instituted against Harvest in the
Amended Order is in addition to the pending administrative proceeding
instituted against Harvest in the OIP. In anticipation of the issuance
of the Amended Order, Harvest has submitted an Offer of Settlement,
which the Commission has determined to accept.
Accordingly, IT IS ORDERED that a proceeding pursuant to Section 21C
of the Exchange Act be, and hereby is, instituted against Harvest.
II.
Solely for the purpose of these proceedings and any other proceedings
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