81 FR 46988 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 138 (July 19, 2016)

[Federal Register Volume 81, Number 138 (Tuesday, July 19, 2016)]
[Notices]
[Page 46988]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-17167]


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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 22, 
2016 at 10:30 a.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 respondent Thomas C. 
Gonnella.
    On November 13, 2014, the ALJ found that Respondent violated 
antifraud provisions, and aided and abetted and caused violations of 
recordkeeping provisions, of the securities laws while associated with 
Barclays, a dually registered broker-dealer and investment adviser. 
Specifically, the ALJ found that Respondent engaged in a fraudulent 
trading scheme in order to avoid aged-inventory charges that were 
implemented under Barclays's internal policy and yet retain the 
securities that were subject to the policy. The ALJ also found that 
Gonnella's failure to record the transactions properly caused 
Barclays's books and records to be incomplete and inaccurate and that 
Gonnella therefore aided and abetted and was a cause of recordkeeping 
violations.
    For these violations, the ALJ suspended Respondent from the 
securities industry and from participation in penny stock offerings for 
twelve months, entered a cease-and-desist order, and assessed a civil 
money penalty of $82,500.
    The Division of Enforcement appealed the suspension, and Respondent 
cross-appealed the findings of violations and sanctions imposed. The 
issues likely to be considered at oral argument include, among other 
things, whether Respondent violated the securities laws and, if so, 
what sanction, if any, is appropriate in the public interest.
    For further information, please contact Brent J. Fields from the 
Office of the Secretary at (202) 551-5400.

     Dated: July 15, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-17167 Filed 7-15-16; 4:15 pm]
 BILLING CODE 8011-01-P