MIT 15 649 - Study Notes (15 pages)

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Study Notes



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Study Notes

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Pages:
15
School:
Massachusetts Institute of Technology
Course:
15 649 - Seminar in Law
Seminar in Law Documents

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Exchange Act Release No 34 31554 Securities Exchange Act of 1934 IN THE MATTER OF JOHN H GUTFREUND THOMAS W STRAUSS AND JOHN W MERIWETHER RESPONDENTS ADMINISTRATIVE PROCEEDING File No 3 7930 December 3 1992 ORDER INSTITUTING PROCEEDINGS PURSUANT TO SECTION 15 b OF THE SECURITIES EXCHANGE ACT OF 1934 MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS AND REPORT OF INVESTIGATION PURSUANT TO SECTION 21 a OF THE SECURITIES EXCHANGE ACT OF 1934 I The Commission deems it appropriate and in the public interest that public administrative proceedings be and they hereby are instituted against John H Gutfreund Thomas W Strauss and John W Meriwether pursuant to Section 15 b of the Securities Exchange Act of 1934 Exchange Act II In anticipation of the institution of these administrative proceedings Gutfreund Strauss and Meriwether have each submitted Offers of Settlement which the Commission has determined to accept Solely for the purposes of these proceedings and any other proceedings brought by or on behalf of the Commission or to which the Commission is a party prior to a hearing pursuant to the Commission s Rules of Practice and without admitting or denying the facts findings or conclusions herein Gutfreund Strauss and Meriwether each consent to entry of the findings and the imposition of the remedial sanctions set forth below III The Commission also deems it appropriate and in the public interest that a report of investigation be issued pursuant to Section 21 a of the Exchange Act FN1 with respect to the supervisory responsibilities of brokerage firm employees in certain circumstances Donald M Feuerstein consents to the issuance of this Report without admitting or denying any of the statements contained herein IV On the basis of this Order and the Respondents Offers of Settlement the Commission finds the following FN2 A FACTS 1 Brokerage Firm Involved Salomon Brothers Inc Salomon is a Delaware corporation with its principal place of business in New York New York At all times



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