UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 82933 / March 22, 2018

ADMINISTRATIVE PROCEEDING

File No. 3-17791

In the Matter of

Orthofix International N.V.

Respondent.

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THIRD EXTENSION ORDER

ADMINISTRATIVE PROCEEDING

File No. 3-17792

In the Matter of

Jeffrey Hammel, CPA

Respondent.

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ADMINISTRATIVE PROCEEDING

File No. 3-17793

In the Matter of

Brian McCollum

Respondent.

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ADMINISTRATIVE PROCEEDING

3-17794

In the Matter of

Kenneth Mack and Bryan McMillan

Respondents.

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The Division of Enforcement (“Division”) has requested a third extension of time until 

April 30, 2018 to submit a Proposed Plan of Distribution under Rule 1101(a) of the 

Commission’s Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1101(a).

On January 18, 2017, the Commission issued an Order Instituting Cease-and-Desist 

Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the 

Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a 

Cease-and-Desist Order (“Orthofix Order”)1against Orthofix International N.V. (“Orthofix”). 

The Orthofix Order required Orthofix to pay an $8,250,000.00 civil money penalty, and created a 

Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, so the 

penalties could be distributed to harmed investors (the “Orthofix Fair Fund”). The Orthofix 

Order further provided that the Orthofix Fair Fund could receive funds from and/or be combined 

with fair funds established for civil penalties paid by other respondents for conduct arising in 

relation to the violative conduct at issue in the Orthofix Order. 

The Commission simultaneously issued three settled orders (together with the Orthofix 

Order, the “Orders”) in related matters (collectively, the “Related Matters”) against respondents 

Jeffrey Hammel, CPA (“Hammel”),2 Brian McCollum (“McCollum”),3and Kenneth Mack 

(“Mack”) and Bryan McMillan (“McMillan”).4 Hammel’s order required him to pay a 

$20,000.00 civil money penalty, and McCollum’s order required him to pay a $35,000.00 civil 

 

1

 Securities Act Rel. No. 10281 (Jan. 18, 2017).

2

 See Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the 

Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934, and Rule 102(e) of the 

Commission’s Rules of Practice, Making Findings and Imposing Remedial Sanctions and a Cease-and-Desist Order, 

Securities Act Rel. No. 10282 (Jan. 18, 2017), Admin. Proc. File No. 3-17792.

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 See Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 

1934, Making Findings, and Imposing Cease-and-Desist Orders and Remedies, Exchange Act Rel. No. 79819 (Jan. 

18, 2017), Admin. Proc. File No. 3-17793.

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 See Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 

1934, Making Findings, and Imposing Cease-and-Desist Orders and Penalties, Exchange Act Rel. No. 79820 (Jan. 

18, 2017), Admin. Proc. File No. 3-17794.
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penalty. Mack and McMillan’s order required them to pay a $40,000.00 and $25,000.00 civil 

money penalty, respectively. Each order created a fair fund and provided that it could be added 

or combined with the Orthofix Fair Fund and/or may be added to or combined with fair funds 

established for the civil penalties paid by other respondents for conduct arising in relation to the 

violative conduct at issue in the order, so that the combined fair funds could be distributed to 

harmed investors affected by the same violative conduct. 

On December 27, 2017, the Commission issued an order consolidating the fair funds 

created in the Related Matters with the Orthofix Fair Fund and appointed Strategic Claims 

Services, Inc. as the fund administrator.

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 The Orthofix Fair Fund has a total of $8,370,000.00 for 

distribution to harmed investors.

On March 31, 2017, the Commission issued an order extending the Division’s time until 

September 15, 2017 to submit a proposed plan of distribution.6 On September 14, 2017, the 

Commission issued a second order extending the Division’s time until March 15, 2018 to submit 

a proposed plan of distribution.7 In its third request for an extension of time, the Division states 

that it needs additional time to develop a proposed plan of distribution. 

 

5

 See Order Consolidating Fair Funds, Appointing Fund Administrator, and Setting Administrator Bond Amount, 

Exchange Act Rel. No. 82410 (Dec. 27, 2017).

6

 Exchange Act Rel. Nos. 80351-80354 (Mar. 31, 2017).

7

 Exchange Act Rel. Nos. 81620, 81622, 81623, and 81624 (Sept. 14, 2017).
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Accordingly, for good cause shown, IT IS HEREBY ORDERED that the Division’s 

request for an extension of time until April 30, 2018 to submit a proposed plan of distribution is 

granted.

For the Commission, by its Secretary, pursuant to delegated authority. 

Brent J. Fields

Secretary