[Federal Register Volume 73, Number 172 (Thursday, September 4, 2008)]
[Notices]
[Page 51650]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-20534]


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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 September 8, 2008 
at 10 a.m., in the Auditorium, Room L-002.
    The subject matter of the Open Meeting will be:

    The Commission will hear oral argument in an appeal by Brendan 
E. Murray from the decision of an administrative law judge. The law 
judge found that Murray, formerly a managing director of registered 
investment adviser Cornerstone Equity Advisers, Inc. 
(``Cornerstone'') and secretary to Cornerstone's advisory clients 
the Cornerstone Funds, Inc. (the ``Funds''), willfully aided and 
abetted and caused Cornerstone to violate antifraud provisions of 
the Investment Advisers Act of 1940, and that Murray converted 
assets of the Funds in violation of the Investment Company Act of 
1940. The law judge barred Murray from associating with any 
investment adviser and from working for any registered investment 
company, assessed a civil money penalty, imposed a cease-and-desist 
order, and ordered disgorgement plus prejudgment interest.
    Among the issues likely to be argued are whether Murray is 
liable as charged, whether Murray acted with scienter, and whether 
there is merit to Murray's contention that he was denied a fair 
hearing. The parties may also address whether and to what extent 
Murray should be sanctioned if he is found to have committed the 
alleged violations.

    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.

    August 29, 2008.
Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-20534 Filed 9-3-08; 8:45 am]
BILLING CODE 8010-01-P