[Federal Register Volume 68, Number 60 (Friday, March 28, 2003)]
[Notices]
[Pages 15249-15250]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-7569]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting Notice

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Pub. L. 94-409, that the Securities and 
Exchange Commission will hold the following meetings during the week of 
March 31, 2003:

Open Meetings will be held on Tuesday, April 1, 2003 at 10 a.m., in 
Room 1C30, the William O. Douglas Room, and Wednesday, April 2, 2003 at 
10 a.m., in Room 1C30, the William O. Douglas Room. Closed Meetings 
will be held on Tuesday, April 1, 2003 at 2:30 p.m., and Wednesday, 
April 2, 2003 at 11 a.m.

    Commissioners, Counsel to the Commissioners, the Secretary to the

[[Page 15250]]

Commission, and recording secretaries will attend the Closed Meetings. 
Certain staff members who have an interest in the matters may also be 
present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B) and (10) and 17 CFR 
200.402(a)(3), (5), (7), (9)(ii) and (10), permit consideration of the 
scheduled matters at the Closed Meetings.
    The subject matter of the Open Meeting scheduled for Tuesday, April 
1, 2003 will be:
    The Commission will consider whether to adopt new rules and 
amendments to direct the national securities exchanges and national 
securities associations to prohibit the listing of any security of an 
issuer that is not in compliance with the audit committee requirements 
established by the Sarbanes-Oxley Act of 2002. These requirements 
relate to: The independence of audit committee members; the audit 
committee's responsibility to select and oversee the issuer's 
independent accountant; procedures for handling complaints regarding 
the issuer's accounting practices; the authority of the audit committee 
to engage advisors; and funding for the independent auditor and any 
outside advisors engaged by the audit committee. The rule implements 
the requirements of Section 10A(m)(1) of the Securities Exchange Act of 
1934, as added by Section 301 of the Sarbanes-Oxley Act of 2002.
    The subject matter of the Closed Meeting scheduled for Tuesday, 
April 1, 2003 will be:
    Institution and settlement of administrative proceedings of an 
enforcement nature; Institution and settlement of injunctive actions; 
and Adjudicatory matters.
    The subject matter of the Open Meeting scheduled for Wednesday, 
April 2, 2003 will be an oral argument:
    The Commission will hear oral argument on an appeal by John J. 
Kenny and Nicholson/Kenny Capital Management, Inc., a registered 
investment adviser, from the decision of an administrative law judge. 
Kenny is a former associated person of a broker-dealer and chairman and 
chief executive officer of Nicholson/Kenny.
    The law judge found that Kenny engaged in schemes to defraud, in 
violation of Section 17(a) of the Securities Act of 1933, Section 10(b) 
of the Securities Exchange Act of 1934 and Rule 10b-5, and aided, 
abetted, and was a cause of violations of those provisions by another 
person. The law judge further found that Kenny and Nicholson/Kenny 
violated Section 206 of the Investment Advisers Act of 1940.
    The law judge barred Kenny from association with any broker, 
dealer, or investment adviser; revoked Nicholson/Kenny's registration 
as an investment adviser; ordered respondents to cease and desist from 
committing or causing violations or future violations of the antifraud 
provisions; assessed civil penalties of $700,000 against Kenny and 
$500,000 against Nicholson/Kenny; and ordered respondents, jointly and 
severally, to pay disgorgement in the amount of $1,333,000.
    Among the issues likely to be argued are:
    1. Whether respondents committed the alleged violations; and
    2. If so, whether sanctions should be imposed in the public 
interest.
    The subject matter of the Closed Meeting scheduled for Wednesday, 
April 2, 2003 will be: Post-argument Discussion.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items. For further information and to 
ascertain what, if any, matters have been added, deleted, or postponed, 
please contact: the Office of the Secretary at (202) 942-7070.

    Dated: March 25, 2003.
Jonathan G. Katz,
Secretary.
[FR Doc. 03-7569 Filed 3-25-03; 4:31 pm]
BILLING CODE 8010-01-P