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SEC COMMISSION OPINION
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EXTRACTED KEY WORDS
ARBITRATION NASD SUSPENSION VACATE COURT SECURITIES MEMBER MOTION EXCHANGE ACT PAY APPEALS DISTRICT BANKRUPTCY PROCEEDING FIRM ARBITRATION CLAIMANTS COMMISSION MATTER REVIEW EFFECTIVENESS PAID JURISDICTION UNITED STATES PAYMENT SECOND CIRCUIT DISMISS CONFIRMATION ACCORDANCE PURPOSES |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934
Rel. No. 48433 / September 3, 2003
Admin. Proc. File No. 3-10958
_________________________________________________________________
In the Matter of the Application of
PERPETUAL SECURITIES, INC.
c/o Kevin K. Tung, Esq.
30-09 Main Street, Suite 6A
Flushing, NY 11354
For Review of Action Taken by the
NASD
_________________________________________________________________
OPINION OF THE COMMISSION
REGISTERED SECURITIES ASSOCIATION -- REVIEW OF
INDEFINITE SUSPENSION
Member firm of registered securities association failed to pay in full
an arbitration award. Association suspended firm's membership
indefinitely until the firm submits proof that it has satisfied or
discharged the obligation, the parties have agreed to modify the
award, the arbitration award has been modified or vacated by a court,
or the award is the subject of a bankruptcy petition or has been
discharged in bankruptcy. , appeal proceedings are .
APPEARANCES
, for Perpetual Securities, Inc.
, , and , for NASD
Appeal filed November 29, 2002
Last brief received March 12, 2003
I.
Perpetual Securities, Inc., an NASD member firm, seeks review of NASD
action. NASD suspended Perpetual's registration indefinitely pursuant
to Article VI, Section 3 of the NASD By-Laws and NASD Procedural Rule
SNIPPETS:
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