81 FR 11309 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 42 (March 3, 2016)

[Federal Register Volume 81, Number 42 (Thursday, March 3, 2016)]
[Notices]
[Page 11309]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-04792]


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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 Monday, March 7, 
2016, at 3:30 p.m., in the Auditorium (L-002) at the Commission's 
headquarters building, to hear oral argument in an appeal from an 
initial decision of an administrative law judge by respondents J.S. 
Oliver Capital Management, L.P. (``J.S. Oliver''), and Ian O. Mausner 
(``Mausner'').
    On August 5, 2014, the law judge found that, beginning in 2008, 
J.S. Oliver, a registered investment adviser, and Mausner, its 
principal, violated antifraud provisions of the securities laws by 
cherry picking profitable trades for favored accounts and by failing to 
disclose uses of soft dollar commissions to their clients. The initial 
decision also found related compliance and recordkeeping violations. 
For their violations, the law judge barred Mausner from the securities 
industry, revoked J.S. Oliver's investment adviser registration, issued 
cease-and-desist orders against them, and ordered respondents to 
disgorge $1,376,440. The law judge also imposed civil money penalties 
of $3,040,000 on Mauser and $14,975,000 on J.S. Oliver.
    Respondents appealed the civil money penalties imposed in the 
initial decision. The oral argument is likely to address what 
penalties, if any, are appropriate in the public interest. Also likely 
to be considered at oral argument is whether these administrative 
proceedings violate the U.S. Constitution.
    For further information, please contact the Office of the Secretary 
at (202) 551-5400.

     Dated: February 29, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-04792 Filed 3-1-16; 11:15 am]
 BILLING CODE 8011-01-P