80 FR 45008 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 144 (July 28, 2015)

[Federal Register Volume 80, Number 144 (Tuesday, July 28, 2015)]
[Notices]
[Page 45008]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-18599]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold an Open Meeting on Friday, July 31, 
2015, at 1 p.m., in the Auditorium (L-002) at the Commission's 
headquarters building, to hear oral argument in an appeal by the 
Respondents Raymond J. Lucia Companies, Inc. (``RJLC'') and Raymond J. 
Lucia, Sr. (``Lucia''), and a cross-appeal by the Division of 
Enforcement, from an initial decision of an administrative law judge.
    On December 6, 2013, the law judge found that RJLC violated 
Sections 206(1), 206(2), and 206(4) of the Investment Advisers Act of 
1940 by misleading prospective clients about its Buckets of Money 
retirement wealth management strategy, and that Lucia aided and abetted 
and caused RJLC's violations. For these violations, the law judge 
barred Lucia from associating with an investment adviser, broker, or 
dealer; revoked RJLC's and Lucia's investment adviser registrations; 
ordered RJLC and Lucia to cease and desist from further violations of 
the Advisers Act; and imposed civil penalties of $250,000 on RJLC and 
$50,000 on Lucia. The law judge also found that RJLC did not violate, 
and Lucia did not aid and abet and cause a violation of, Advisers Act 
Rule 206(4)-1(a)(5) concerning fraudulent advertisements by investment 
advisers.
    The Respondents appealed the law judge's findings of violation and 
the sanctions imposed, and the Division cross-appealed the law judge's 
Rule 206(4)-1(a)(5) findings. The issues likely to be considered at 
oral argument include, among other things, whether Respondents violated 
the antifraud provisions as alleged and, if so, the extent to which 
they should be sanctioned for those violations.
    For further information, please contact the Office of the Secretary 
at (202) 551-5400.

     Dated: July 24, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-18599 Filed 7-24-15; 4:15 pm]
 BILLING CODE 8011-01-P