SEC v KO SECURITIES, INC. and TERRANCE Y. YOSHIKAWA


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Keywords & Phrases

CaseNo: 34-48550, Defendant: Ko Securities, Inc. and Terrance Y. Yoshikawa, Plaintiff: SEC, State: WA Washington, UniqueCaseRef: SEC>34-48550, Nasd, Securities, Sales, Affirmative Determination, Exchange Act, Recordkeeping Violations, Yoshikawa, Sanctions, Disciplinary Action, Firm, Violated Exchange Act, Respondents, Commission, Entremed Stock, Executing, Findings, Washington, Registered Securities Association, Annotating, Proceeding, Reconsideration, Hearing Panel, Nasd Sanction Guidelines, Respondents Claim, Prompt Receipt, Annotate Affirmative Determination, Paine Webber, Borrow Entremed Stock , ContentID: 120255932

Case Documents

2003-09-26

SEC COMMISSION OPINION
[ see first page and extracted highlights below ] ItemID: 133222

11 pages
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Total Documents: 1 document , 11 pages

Price: $ 19.95

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1 . SEC COMMISSION OPINION

EXTRACTED KEY WORDS

SECURITIES
SALES
AFFIRMATIVE DETERMINATION
EXCHANGE ACT
RECORDKEEPING VIOLATIONS
YOSHIKAWA
SANCTIONS
DISCIPLINARY ACTION
FIRM
VIOLATED EXCHANGE ACT
RESPONDENTS
COMMISSION
ENTREMED STOCK
EXECUTING
FINDINGS
WASHINGTON
REGISTERED SECURITIES ASSOCIATION
ANNOTATING
PROCEEDING
RECONSIDERATION
HEARING PANEL
NASD SANCTION GUIDELINES
RESPONDENTS CLAIM
PROMPT RECEIPT
ANNOTATE AFFIRMATIVE DETERMINATION
PAINE WEBBER
BORROW ENTREMED STOCK
AFFIRMATIVE DETERMINATION REQUIREMENT
MARKET REGULATION

Securities and Exchange Commission
Washington, D.C.

Securities Exchange Act Of 1934
Rel. No.48550 / September 26, 2003

Admin. Proc. File No. 3-11000
     _________________________________________________________________

   In the Matter of the Application of

   KO SECURITIES, INC.
   2416 32nd Avenue West
   Seattle, Washington 98199

   and

   TERRANCE Y. YOSHIKAWA
   3417 West Commodore Way
   Seattle, Washington 98199

   For Review of Disciplinary Action Taken by

   NASD
     _________________________________________________________________

   OPINION OF THE COMMISSION

   REGISTERED SECURITIES ASSOCIATION -- - REVIEW OF DISCIPLINARY
   PROCEEDING

   Prompt Receipt and Delivery of Securities

   Books and Records

   Failure to Obtain and Annotate Affirmative Determination for Short
   Sales

   Failure to Maintain Books and Records

   Registered firm and associated person violated NASD conduct rules by
   executing short sales without making and annotating the affirmative
   determinations required for each short sale, and violated Exchange Act
   and NASD rules by failing to maintain adequate records for such short
   sales. , association's findings of affirmative determination and
   recordkeeping violations, and sanctions it imposed for recordkeeping
   violations, , but proceedings for reconsideration of sanctions imposed
   with respect to affirmative determination violation.

SNIPPETS:

Securities and Exchange Commission

Washington, D.C.

Failure to Obtain and Annotate Affirmative Determination for Short Sales

Registered firm and associated person violated NASD conduct rules by executing short sales

, association's findings of affirmative determination and recordkeeping violations, and

Ko Securities, Inc., a former registered broker-dealer and former member of NASD, and

We base our findings on an independent review of the record.

On the evening of May 3, 1998, and early the following morning, Yoshikawa contacted several

Around the time he started short selling Entremed stock, Yoshikawa directed a Ko employee to

Respondents initially executed their Entremed trades in Ko's proprietary Trade Allocation and

The Hearing Panel found that Respondents violated NASD Conduct Rules 3370 and 2110 by short