[Federal Register Volume 68, Number 66 (Monday, April 7, 2003)]
[Notices]
[Page 16847]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-8434]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meetings

    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 
April 7, 2003:
    Closed meetings will be held on Tuesday, April 8, 2003, at 2:30 
p.m. and Friday, April 11, 2003, at 11 a.m. An open meeting will be 
held on Friday, April 11, 2003, at 10 a.m. in Room 1C30, the William O. 
Douglas Room.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meetings. 
Certain staff members who have an interest in the matters may also be 
present.
    Commissioner Campos, as duty officer, determined that no earlier 
notice thereof was possible.
    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 closed meeting scheduled for Tuesday, 
April 8, 2003, will be:

Formal Orders of Investigation;
Institution and settlement of administrative proceedings of an 
enforcement nature;
Institution and settlement of injunctive actions.

    The subject matter of the open meeting scheduled for Friday, April 
11, 2003, will be:
    The Commission will hear oral argument on an appeal by Monetta 
Financial Services, Inc. (``MFS''), a registered investment adviser, 
Robert S. Bacarella, the president and a director of MFS, and Richard 
D. Russo, an independent trustee of the Monetta Trust, from an 
administrative law judge's initial decision.
    The law judge found that respondents violated section 17(a) of the 
Securities Act of 1933, section 10(b) of the Securities Exchange Act of 
1934, and Exchange Act rule 10b-5. The law judge further found that 
Bacarella aided, abetted, and was the cause of MFS'' willful violations 
of sections 206(1) and 206(2) of the Investment Advisers Act of 1940. 
The law judge ordered respondents to cease and desist from these 
violations; suspended Bacarella from association with any investment 
adviser or registered investment company for 90 days, and fined him 
$100,000; suspended Russo from association with any registered 
investment company for 30 days, fined him $25,000, and ordered him to 
pay disgorgement of $28,823, plus prejudgment interest; and censured 
MFS, and fined the firm $200,000.
    The Commission will consider the following issues:
    (1) Whether respondents committed the alleged violations;
    (2) Whether Robert S. Bacarella aided, abetted, or was a cause of 
MFS'' violations of section 206 of the Investment Advisers Act of 1940; 
and
    (3) If so, whether sanctions are appropriate and in the public 
interest.
    The subject matter of the closed meeting scheduled for April 11, 
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: April 2, 2003.
Jonathan G. Katz,
Secretary.
[FR Doc. 03-8434 Filed 4-2-03; 4:05 pm]
BILLING CODE 8010-01-P