[Federal Register Volume 70, Number 207 (Thursday, October 27, 2005)]
[Notices]
[Page 62008]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-21518]


=======================================================================
-----------------------------------------------------------------------

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 
October 31, 2005:

    An Open Meeting will be held on Monday, October 31, 2005 at 10 
a.m., in the Auditorium, Room LL-002 and Closed Meetings will be 
held on Monday, October 31, 2005 at 11 a.m. and Thursday, November 3 
at 2 p.m.

    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.
    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)(5), (6), (7), (9)(B), and (10) and 17 CFR 
200.402(a)(5), (6), (7), 9(ii) and (10) permit consideration of the 
scheduled matters at the Closed Meeting.
    Commissioner Nazareth, as duty officer, voted to consider the items 
listed for the closed meetings in closed session and that no earlier 
notice thereof was possible.
    The subject matter of the Open Meeting scheduled for Monday, 
October 31, 2005 will be:

    The Commission will hear oral argument on an appeal by Dolphin & 
Bradbury, Inc. (``D&B'') and its part-owner and chairman, Robert J. 
Bradbury (together, ``Respondents''), as well as the Division of 
Enforcement, from the decision of an administrative law judge. The 
law judge found that certain materials used by Respondents to market 
to investors long-term, non-taxable municipal bonds that were issued 
to finance the purchase of an office building and parking lot 
complex were materially misleading. D&B served as underwriter of the 
bond issue. The law judge found that, through their conduct in 
connection with the bond issue, Respondents willfully violated 
Section 17(a) of the Securities Act of 1933, Section 10(b) of the 
Securities Exchange Act of 1934 and Rule 10b5 thereunder, and 
Municipal Securities Rulemaking Board Rule G-17, and that D&B 
willfully violated, and Bradbury willfully aided and abetted and 
caused D&B's violation of, Exchange Act Section 15B(c)(1). The law 
judge ordered D&B and Bradbury to cease and desist from committing 
or causing violations of the provisions they were found to have 
violated; jointly and severally to disgorge $482,562.50, plus 
prejudgment interest; and to pay civil penalties of $400,000 and 
$82,000 respectively. The law judge rejected the Division's request 
that he create a fund for the benefit of investors into which the 
disgorgement and civil penalties would be paid, which is the only 
aspect of the decision the Division has appealed.
    Among the issues likely to be argued are whether Respondents 
violated antifraud provisions in offering and selling the bonds, 
and, if so, whether and to what extent sanctions should be imposed 
on Respondents.

    The subject matter of the Closed Meeting scheduled for Monday, 
October 31, 2005 will be:
    Post-argument discussion.
    The subject matters of the Closed Meeting scheduled for Thursday, 
November 3, 2005 will be:
    Formal orders of private investigations;
    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings of an 
enforcement nature; and
    Amicus consideration.
    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) 551-5400.

    Dated: October 24, 2005.
Jonathan G. Katz,
Secretary.
[FR Doc. 05-21518 Filed 10-25-05; 11:25 am]
BILLING CODE 8010-01-P