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1
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SEC ADMINISTRATIVE LAW JUDGE DECISION
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EXTRACTED KEY WORDS
SECURITIES ACT EXCHANGE ACT COMMISSION REGISTERED REPRESENTATIVES ONLINE LAW STOCK PURSUANT JAMES STIPS INVESTORS VIOLATIONS RESPONDENT ADMINISTRATIVE LAW JUDGE FALCON FINANCIAL SERVICES OIP ALLEGES RELEVANT PERIOD STOCK PRICE PROJECTIONS FUTURE VIOLATIONS CIVIL MONETARY PENALTY UNITED STATES STIPULATIONS POTENTIAL CUSTOMER PENNY STOCK DISGORGEMENT ENFORCEMENT ORDER INSTITUTING PROCEEDINGS NASDAQ LISTING |
Initial Decision of an SEC Administrative Law Judge
James F. Glaza
INITIAL DECISION RELEASE NO. 235
ADMINISTRATIVE PROCEEDING
FILE NO. 3-11012
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
_________________________________________________________________
In the Matter of
JAMES F. GLAZA,
D/B/A FALCON FINANCIAL
SERVICES, INC.
_________________________________________________________________
INITIAL DECISION
September 8, 2003
APPEARANCES Polly A. Atkinson and Thomas D. Carter for the Division of
Enforcement,
United States Securities and Exchange Commission
Walter J. Baumgardner for Respondent James F. Glaza d/b/a Falcon
Financial Services, Inc.
BEFORE Robert G. Mahony, Administrative Law Judge
INTRODUCTION
The Securities and Exchange Commission (Commission) issued an Order
Instituting Proceedings (OIP) on January 21, 2003, against Respondent
James F. Glaza d/b/a Falcon Financial Services, Inc. (Glaza), 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). The OIP alleges that Glaza, as a registered
representative, willfully violated Sections 5(a), 5(c), and 17(a) of
the Securities Act and Section 10(b) of the Exchange Act and Rule
10b-5 thereunder, in connection with the offer, purchase, and sale of
shares of OnLine Power Supply, Inc., a Nevada corporation (OnLine or
the Company), during the period from approximately August 1999 to
approximately May 2000 (relevant period).
Glaza filed his Answer to the OIP on April 2, 2003. The Division of
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