Table of Contents

Enforcement Milestones .......................................................................................... 2

Enforcement Action Summary by Primary Classification..................................... 3

Fiscal 2008 Enforcement Cases by Program Area................................................. 4

Investigations of Possible Violations of the Acts

Administered by the Commission..................................................................... 21

Right to Financial Privacy..................................................................................... 21

SEC Total Investor Contacts by Fiscal Year........................................................ 22

Ten Most Common Complaints During Fiscal 2008............................................ 23

Unconsolidated Financial Information for Broker-Dealers ................................ 24

Unconsolidated Annual Revenues and Expenses for

Broker-Dealers Doing a Public Business.......................................................... 25

Unconsolidated Balance Sheet for Broker-Dealers

Doing a Public Business .................................................................................... 26

Unconsolidated Revenues and Expenses for

Carrying/Clearing Broker-Dealers ................................................................... 27

Unconsolidated Balance Sheet for Carrying/Clearing Broker-Dealers .............. 28

Transaction Activity in Equities, Options and Security Futures ....................... 29

SELECT SEC AND MARKET DATA

FISCAL 2008


• Obtained orders in SEC judicial and administrative 

proceedings requiring securities violators to disgorge 

illegal profits of approximately $774 million and to 

pay penalties of approximately $256 million.

• Sought orders barring 132 defendants and respondents 

from serving as officers or directors of public companies.

• Sought emergency relief from federal courts the 

form of temporary restraining orders (TROs) to 

halt ongoing fraudulent conduct in 39 actions, 

and sought asset freezes in 46 actions.

• Filed 9 actions to enforce investigative subpoenas.

• Halted trading in securities of 189 issuers about 

which there was inadequate public disclosure.

Table 1

ENFORCEMENT MILESTONES 

FISCAL 2008

In SEC-related criminal cases, prosecutors filed indictments,

informations, or contempts in 108 cases.


Table 2

FISCAL 2008 ENFORCEMENT ACTION SUMMARY

BY PRIMARY CLASSIFICATION

(Each action initiated has been included in only one category listed below, even though 

many actions involved multiple allegations and may fall under more than one category. 

The number of defendants and respondents is noted parenthetically.)

Primary Classification Civil Actions Administrative 

Proceedings Total %of Total Actions

Issuer Reporting and Disclosure 81 (158) 76 (84) 157 (242) 23%

Broker Dealer 15 (39) 45 (50) 60 (89) 9%

Investment Advisors 24 (67) 55 (94) 79 (161) 12%

Securities Offering Cases 65 (279) 56 (69) 121 (346) 18%

Delinquent Filings 0 (0) 111 (479) 111 (479) 16%

Insider Trading Cases 42 (84) 19 (19) 61 (103) 9%

Market Manipulation Cases 39 (141) 13 (20) 52 (161) 8%

Civil Contempt 10 (15) 0 (0) 10 (15) 1%

Municipal Offering 2 (9) 0 (0) 2 (9) 1%

Transfer Agent 0 (0) 2 (3) 2 (3) 1%

Investment Companies 0 (0) 9 (9) 9 (9) 1%

Miscellaneous Cases 7 (16) 0 (0) 7 (16) 1%

TOTALS 285 (808) 386 (827) 671 (1635) 100%


Table 3

FISCAL 2008 ENFORCEMENT CASES

LISTED BY PROGRAM AREA

Name of Case Release No. Date Filed

Broker Dealer

SEC v. Kevin James Dunn, Jr. LR-20323 10/04/2007

In the Matter of Morgan Stanley & Co., Inc. 34-56634 10/10/2007

SEC v. Robert A. Loffredi, et al. LR-20343 10/19/2007

In the Matter of Charles N. Watson 34-56737 11/02/2007

In the Matter of John R. Glushko 34-57435 11/14/2007

SEC v. Sidney Mondschein, et al. LR-20531 12/06/2007

In the Matter of Marc H. Plotkin 33-8872 12/18/2007

In the Matter of Morgan Stanley & Co., Inc. 34-56980 12/18/2007

SEC v. Darryl A. Goldstein, et al. LR-20403 12/18/2007

In the Matter of Donald Sorrentino 34-57040 12/21/2007

In the Matter of James T. Garrett, Jr. 34-57085 01/02/2008

In the Matter of vFinance Investments, Inc., et al. 34-58403 01/03/2008

SEC v. Mark Barbera LR-20458 02/14/2008

In the Matter of Robert A. Loffredi 34-57372 02/22/2008

SEC v. Tuco Trading, LLC, et al. LR-20500 03/04/2008

In the Matter of Jeffrey A. Richie 34-57491 03/13/2008

In the Matter of Marc J. Bilotti 34-57501 03/14/2008

In the Matter of Rochelle Roman 34-57565 03/26/2008

In the Matter of Douglas G. Frederick 34-57637 04/08/2008

SEC v. Robert Durant, et al. LR-20526 04/15/2008

SEC v. David K. Donovan, Jr., et al. LR-20528 04/16/2008

In the Matter of Sidney Mondschein 34-57680 04/17/2008

In the Matter of First Montauk Securities Corp., et al. 34-57710 04/24/2008

In the Matter of Ryan G. Leeds 34-57728 04/28/2008

In the Matter of Vfinance Investments, Inc. 34-57727 04/28/2008

SEC v. Chanin Capital LLC LR-20551 04/28/2008

In the Matter of Robert MacGregor 34-57745 04/30/2008

In the Matter of Joseph Miller 34-57810 05/09/2008

In the Matter of Michael McCormack 34-57811 05/09/2008

In the Matter of First Southwest Company 33-8919 05/27/2008

SEC v. North American Clearing Inc., et al. LR-20602 05/27/2008

In the Matter of Gerald Kingston 34-57908 06/03/2008

In the Matter of Robert Durant 34-57919 06/04/2008

In the Matter of EKN Financial Services, Inc., et al. 33-8928 06/06/2008

In the Matter of Jamie L. Solow 34-57960 06/12/2008

In the Matter of Stanislav Shpigelman 34-57985 06/18/2008

In the Matter of Scottrade, Inc. 34-58012 06/24/2008

In the Matter of Steven Sirianni 34-58046 06/27/2008


Name of Case Release No. Date Filed

In the Matter of Brian Fabrizzi 34-58219 07/24/2008

In the Matter of Stephen H. Roebuck 34-58238 07/29/2008

In the Matter of E*Trade Clearing LLC, et al. 34-58250 07/30/2008

In the Matter of Phillip R. Bennett AAER-2854 07/30/2008

In the Matter of Gordon R. Moore 34-58293 08/01/2008

SEC v. Brent S. Lemons LR-20669 08/01/2008

In the Matter of Marc Willis 34-58619 08/06/2008

In the Matter of Peter In Cho 34-58317 08/06/2008

In the Matter of Simon Chong 34-58318 08/06/2008

In the Matter of Finance 500, Inc. 33-8950 08/07/2008

In the Matter of Timothy J. Ward 34-58337 08/11/2008

In the Matter of William Clark Davis 34-57418 08/25/2008

SEC v. Julian T. Tzolov, et al. LR-20698 09/03/2008

In the Matter of Shawn F. Haber 34-58477 09/08/2008

In the Matter of LPL Financial Corp. 34-58515 09/11/2008

In the Matter of David S. Davidson 34-58579 09/18/2008

In the Matter of Lloyd S. Beirne 34-58580 09/18/2008

SEC v. Gary J. Gross LR-20732 09/22/2008

SEC v. Kenneth Suzrez, et al. LR-20736 09/24/2008

SEC v. Melvyn Nathanson, et al. LR-20735 09/24/2008

In the Matter of Kevin James Dunn, Jr. 34-58675 09/29/2008

In the Matter of Stephen R. Moynahan 34-58689 09/30/2008

Civil Contempt

SEC v. BCI Aircraft Leasing, Inc., et al LR-20330 10/05/2007

SEC v. Sherwin P. Brown, et al. LR-20553 11/14/2007

SEC v. Gerald H. Levine, et al. LR-20433 01/17/2008

SEC v. Laurence Young None 02/12/2008

SEC v. Jason R. Hyatt, et al. LR-20701 04/18/2008

SEC v. John Jenkins None 05/13/2008

SEC v. David M. Greene None 09/11/2008

SEC v. Douglas T. Fonteno None 09/23/2008

SEC v. Dino A. Romano None 09/25/2008

SEC v. Steven B. Rodd LR-20757 09/26/2008

Delinquent Filing: Issuer Report

In the Matter of Caddo Enterprises, Inc., et al. 34-58567 09/17/2008

In the Matter of Ramp Corporation 34-56859 10/19/2007

In the Matter of Ameriserve Food Distribution, Inc., et al. 34-56844 10/22/2007

In the Matter of Alpha Generation, Inc. 34-56693 10/24/2007

In the Matter of Grand Central Silver Mines, Inc. 34-56692 10/24/2007

In the Matter of Hydromaid International, Inc. 34-56691 10/24/2007

In the Matter of iPhone2, Inc. 34-56690 10/24/2007


Name of Case Release No. Date Filed

In the Matter of Liquitek Enterprises, Inc. 34-56689 10/24/2007

In the Matter of American Venture Group, Inc., et al. 34-56839 10/29/2007

In the Matter of BIMS Renewable Energy, Inc. 34-56939 11/01/2007

In the Matter of Maximum Dynamics, Inc. 34-57288 11/01/2007

In the Matter of Inetvisionz, Inc., et al. 34-56869 11/06/2007

In the Matter of Ames Department Stores, Inc., et al. 34-56967 11/07/2007

In the Matter of e4L, Inc., et al. 34-57112 11/30/2007

In the Matter of AR Associates, Inc., et al. 34-57168 12/10/2007

In the Matter of ABC Dispensing Technologies, Inc., et al. 34-57208 01/04/2008

In the Matter of Accent Color Science, Inc., et al. 34-57495 01/04/2008

In the Matter of Roanoke Technology Corp. 34-57496 01/15/2008

In the Matter of Aimsi Technologies, Inc. 34-57580 01/31/2008

In the Matter of A Novo Broadband, Inc., et al. 34-57477 02/04/2008

In the Matter of Azur International, Inc. 34-57344 02/19/2008

In the Matter of Enova Holdings, Inc. 34-57345 02/19/2008

In the Matter of Greater China Corp. 34-57346 02/19/2008

In the Matter of TelcoBlue, Inc. 34-57370 02/22/2008

In the Matter of Machine Technology, Inc., et al. 34-57628 03/05/2008

In the Matter of Certified Services, Inc. 34-58015 03/06/2008

In the Matter of Anscott Industries, Inc. 34-57791 03/17/2008

In the Matter of Randgold & Exploration Company, Ltd. 34-57548 03/24/2008

In the Matter of Hollinger Inc. 34-57552 03/25/2008

In the Matter of Aaro Broadband Wireless Communications, Inc., et al. 34-57673 03/26/2008

In the Matter of 21st Century Technologies, Inc. 34-58210 04/11/2008

In the Matter of Advanced Precision Technology, Inc., et al. 34-57983 04/21/2008

In the Matter of Dover Petroleum Corp., et al. 34-57907 04/21/2008

In the Matter of Empyrean Bioscience, Inc., et al. 34-57943 04/21/2008

In the Matter of American Golden Century Investments, Inc., et al. 34-57971 04/29/2008

In the Matter of National Manufacturing Technologies, Inc., et al. 34-58080 05/06/2008

In the Matter of e.Spire Communications, Inc., et al. 34-57984 05/27/2008

In the Matter of GSI Securitization Ltd., et al. 34-57868 05/27/2008

In the Matter of ABS Group, Inc., et al. 34-57885 05/30/2008

In the Matter of American Kiosk Corp., et al. 34-58065 05/30/2008

In the Matter of Health Professionals, Inc. 34-57898 06/02/2008

In the Matter of National Fruit and Vegetable Technology Corp., et al. 34-58274 06/04/2008

In the Matter of American Ship Building Co., et al. 34-58188 06/12/2008

In the Matter of K-2 Logistics.com, Inc., et al. 34-58249 06/19/2008

In the Matter of Baroque Corp., et al. 34-58120 06/20/2008

In the Matter of Cardinal Communications, Inc. 34-57992 06/20/2008

In the Matter of Acclaim Entertainment, Inc., et al. 34-58336 06/23/2008

In the Matter of Benguet Corp., et al. 34-58304 06/23/2008

In the Matter of Borough Corp., et al. 34-58158 06/25/2008

In the Matter of Struthers, Inc., et al. 34-58167 06/26/2008


Name of Case Release No. Date Filed

In the Matter of WarpRadio.com, Inc., et al. 34-58330 07/02/2008

In the Matter of The National Capital Companies, Inc., et al. 34-58561 07/25/2008

In the Matter of Viragen, Inc., et al. 34-58419 07/25/2008

In the Matter of Karting International, Inc., et al. 34-58542 07/29/2008

In the Matter of Sunbase Asia, Inc., et al. 34-58581 08/15/2008

In the Matter of Walking Stick Oil & Gas Corp., et al. 34-58543 08/15/2008

In the Matter of Ajay Sports, Inc. 34-58373 08/18/2008

In the Matter of Heritage American Resource Corp. 34-58374 08/18/2008

In the Matter of Pacific Coast Apparel Co., Inc., et al. 34-58560 08/18/2008

In the Matter of Atomic Burrito, Inc., et al. 34-58653 08/19/2008

In the Matter of Ocean Resources, Inc., et al. 34-58511 08/19/2008

In the Matter of Aqua Vie Beverage Corp., et al. 34-58393 08/20/2008

In the Matter of Birman Managed Care, Inc., et al. 34-58627 08/20/2008

In the Matter of Consolidated Growers and Processors, Inc., et al. 34-58614 08/20/2008

In the Matter of Markland Technologies, Inc. 34-58427 08/27/2008

In the Matter of Kaleidoscope Media Group, Inc., et al. 34-58640 09/02/2008

In the Matter of Struthers Industries, Inc., et al. 34-58538 09/02/2008

In the Matter of Wall Street Deli, Inc., et al. 34-58595 09/02/2008

In the Matter of Continental Beverage and Nutrition, Inc. 34-58453 09/03/2008

In the Matte of Karts International, Inc., et al. 34-58468 09/05/2008

In the Matter of MAII Holdings, Inc., et al. 34-58470 09/05/2008

In the Matter of ARM Financial Group, Inc., et al. 34-58628 09/08/2008

In the Matter of Paladin International Corp., et al. 34-58492 09/08/2008

In the Matter of Amenity Zone, Inc., et al. 34-58642 09/09/2008

In the Matter of Argyle Ventures, Inc., et al. 34-58498 09/09/2008

In the Matter of Axyn Corp., et al. 34-58494 09/09/2008

In the Matter of Camtek Technologies, Inc., et al. 34-58497 09/09/2008

In the Matter of Stylesite Marketing, Inc., et al. 34-58496 09/09/2008

In the Matter of Alamo Financial Services, Inc., et al. 34-58506 09/10/2008

In the Matter of Boochm Systems, Inc., et al. 34-58504 09/10/2008

In the Matter of Odessa Foods International, Inc., et al. 34-58503 09/10/2008

In the Matter of Oil City Petroleum, Inc., et al. 34-58505 09/10/2008

In the Matter of Bay Area Holdings, Inc., et al. 34-58523 09/11/2008

In the Matter of California Service Stations, Inc., et al. 34-58525 09/11/2008

In the Matter of Omni Nutraceuticals, Inc., et al. 34-58524 09/11/2008

In the Matter of AD Art Electronic Sign Corp., et al. 34-58530 09/12/2008

In the Matter of American Environmental Corp., et al. 34-58527 09/12/2008

In the Matter of Curecom.com, Inc., et al. 34-58537 09/12/2008

In the Matter of Entertainment Technologies & Programs, Inc., et al. 34-58527 09/12/2008

In the Matter of HomeBanc Corp. 34-58528 09/12/2008

In the Matter of Nicole Industries, Inc., et al. 34-58535 09/12/2008

In the Matter of B.B. Walker Co., et al. 34-58641 09/15/2008

In the Matter of Webservices Innovations, Ltd., et al. 34-58545 09/15/2008


Name of Case Release No. Date Filed

In the Matter of Cabot Medical Corp., et al. 34-58552 09/16/2008

In the Matter of East West Distributors, Inc., et al. 34-58556 09/16/2008

In the Matter of E-Star Holdings, Inc., et al. 34-58554 09/16/2008

In the Matter of Blue Angel Holdings Corp., et al. 34-58565 09/17/2008

In the Matter of EA industries, Inc., et al. 34-58558 09/17/2008

In the Matter of Q-Entertainment, Inc., et al. 34-58566 09/17/2008

In the Matter of Far East Ventures Trading Co., et al. 34-58583 09/18/2008

In the Matter of Quality Dino Entertainment, Ltd., et al. 34-58587 09/18/2008

In the Matter of Cat-A-Tonic Beverage Corp., et al. 34-58600 09/19/2008

In the Matter of Liberty or Death, Inc., et al. 34-58602 09/19/2008

In the Matter of Quadxsports.com, Inc., et al. 34-58894 09/19/2008

In the Matter of Ragen Corp., et al. 34-58590 09/19/2008

In the Matter of R2 Medical Systems, Inc., et al. 34-58618 09/22/2008

In the Matter of Ramsin Product Development, Inc., et al. 34-58617 09/22/2008

In the Matter of Telomolecular Corp. 34-58652 09/26/2008

In the Matter of Wendt-Bristol Health Services Corporation 34-58655 09/26/2008

In the Matter of MB Tech, Inc. 34-58683 09/30/2008

In the Matter of Achieva Development Corp., et al. 34-57809 04/21/2008

Insider Trading

SEC v. Powell Calder LR-20324 10/04/2007

SEC v. Charles S. Lenzner, et al. LR-20338 10/17/2007

SEC v. Oleksandr Dorozhko LR-20349 10/29/2007

SEC v. Quan Zhu LR-20348 10/29/2007

SEC v. Harry H. Yim LR-20549 11/02/2007

SEC v. TCMP3 Partners, LP, et al. LR-20356 11/05/2007

In the Matter of Andrew A. Srebnik 34-56823 11/20/2007

SEC v. David W. Knall LR-20380 12/03/2007

SEC v. James R. Belcher, C.A. LR-20382 12/04/2007

In the Matter of Mark Michel 34-57200 12/06/2007

SEC v. Hans Wagner LR-20392 12/07/2007

In the Matter of David W. Knall 34-57055 12/27/2007

In the Matter of Elliot Joel Smith 34-57126 01/10/2008

In the Matter of Gregg Ashley Smith 34-57125 01/10/2008

SEC v. Gregory B. Raben, et al. LR-20429 01/15/2008

SEC v. Ernesto Tapanes LR-20431A 01/17/2008

SEC v. Saiyed Atiq Raza LR-20434 01/22/2008

In the Matter of William Patrick Borchard, CPA AAER-2782 02/06/2008

In the Matter of Mitchell S. Drucker, Esq. 34-57292 02/07/2008

SEC v. William G. Williams LR-20453 02/11/2008

SEC v. Stanley Manne LR-20474 03/04/2008

SEC v. Douglas M. Beahm, et al. LR-20479 03/05/2008

In the Matter of The Retirement Systems of Alabama 34-57446 03/06/2008


Name of Case Release No. Date Filed

SEC v. Kent G. Barkouras LR-20485 03/10/2008

SEC v. John F. Marshall, Ph.D., et al. LR-20491 03/13/2008

SEC v. Robert G. Cole LR-20494 03/13/2008

SEC v. Michael A. Stummer LR-20529 04/17/2008

In the Matter of Amir Rosenthal, Esq. 34-57722 04/25/2008

SEC v. Edward O. Boshell, et al. LR-20541 04/28/2008

SEC v. Charles R. Norton, et al. LR-20542 04/29/2008

In the Matter of A. Carlos Martinez 34-57755 05/01/2008

SEC v. Zachariah P. Zachariah, et al. LR-20564 05/12/2008

SEC v. John Turchetta LR-20569 05/13/2008

SEC v. Cristian De Colli LR-20581 05/15/2008

SEC v. Gordon C. Bigler LR-20589 05/20/2008

SEC v. James E. Gansman, et al. LR-20603 05/29/2008

SEC v. Jeffrey P. Myers LR-20610 06/04/2008

SEC v. Joseph A. Fontanetta, et al. LR-20611 06/04/2008

SEC v. Robert W. Tedder, et al. LR-20623 06/18/2008

SEC v. Adrian P. Di Vita LR-20626 06/20/2008

SEC v. William J. Rauch LR-20646 07/15/2008

In the Matter of Jeffifer Xujia Wang 34-58220 07/24/2008

In the Matter of Rubin Chen a/k/a Ruben Chen a/k/a Ruopian Chen IA-2760 07/24/2008

SEC v. DRS Technologies, Inc., et al. LR-20654 07/25/2008

SEC v. George J. Simchuk LR-20656 07/29/2008

SEC v. Lou L. Pai LR-20658 07/29/2008

SEC v. James D. Zeglis, et al. LR-20720A 09/16/2008

In the Matter of David A. Glass 34-58574 09/18/2008

In the Matter of Laurence McKeever 34-58575 09/18/2008

In the Matter of Marc R. Jurman 34-58573 09/18/2008

In the Matter of Mark E. Lenowitz IA-2779 09/18/2008

In the Matter of Randi E. Collotta 34-58577 09/18/2008

In the Matter of Randi E. Collotta 34-58578 09/18/2008

In the Matter of Robert D. Babcock 34-58579 09/18/2008

SEC v. Matthew R. Zachowski LR-20726 09/19/2008

SEC v. Jan A. Norelid, et al. LR-20743 09/25/2008

SEC v. Carlos J. Petry LR-20754 09/29/2008

SEC v. Randolph Leone, et al. LR-20758 09/29/2008

SEC v. Joseph J. Queri Jr., et al. LR-20765 09/30/2008

SEC v. Joseph J. Queri Jr., et al. LR-20765 09/30/2008

SEC v. Samir I. Abed, et al. LR-20759 09/30/2008

Investment Adviser

SEC v. Justin M. Paperny LR-20428 01/14/2008

In the Matter of Consulting Services Group, LLC, et al. 34-56612 10/04/2007

In the Matter of Sandell Asset Management Corp., et al. 33-8857 10/10/2007
10

Name of Case Release No. Date Filed

In the Matter of Stephen J. McLaughlin 34-56668 10/17/2007

SEC v. Daniel N. Jones, et al. LR-20727 11/29/2007

In the Matter of Founding Partners Capital Management Company, et al 33-8866 12/03/2007

SEC v. Marc A. Freedman LR-20383 12/05/2007

SEC v. Don Warner Reinhard LR-20401 12/17/2007

In the Matter of George J. Sandhu IA-2768 12/21/2007

In the Matter of National Investment Advisors, Inc., et al. 34-57056 12/27/2007

In the Matter of Robert Ray White Samples 34-57043 12/27/2007

In the Matter of K.W. Brown & Company, et al. 34-58011 01/04/2008

In the Matter of Marc A. Freedman IA-2693 01/14/2008

In the Matter of Chronos Asset Management, Inc., et al. 33-8883 01/25/2008

In the Matter of Heartland Advisors, Inc., et al. 33-8884 01/25/2008

In the Matter of Joseph A. Ferona, Jr. 34-57205 01/25/2008

In the Matter of Michael Mauriello IC-28141 02/05/2008

In the Matter of Ritchie Capital Management LLC, et al. 33-8890 02/05/2008

In the Matter of Justin M. Paperny 34-57307 02/11/2008

In the Matter of James A. Jeffery, et al. IA-2704 02/14/2008

In the Matter of Peter J. Dawson IA-2706 02/15/2008

In the Matter of Edward Sewon Ehee IA-2707 02/22/2008

In the Matter of Vincent A. Lenarcic, Jr. IA-2709 02/29/2008

SEC v. Thompson Consulting, Inc. LR-20475 03/04/2008

In the Matter of Bart A. Grenier IA-2714 03/05/2008

In the Matter of Fidelity Management & Research Company, et al. IA-2713 03/05/2008

In the Matter of Marc C. Beran IA-2716 03/05/2008

In the Matter of Peter S. Lynch IC-28189 03/05/2008

In the Matter of Scott E. Desano, et al. IA-2715 03/05/2008

In the Matter of Michael R. Donnell IA-2718 03/11/2008

In the Matter of Frank J. Russo IA-2720 03/12/2008

SEC v. Pentagon Capital Management PLC LR-20516 04/03/2008

SEC v. Headstart Advisers Limited LR-20524 04/10/2008

In the Matter of Mitchell M. Maynard, et al. IA-2724 04/16/2008

In the Matter of Scott B. Gann 34-57674 04/17/2008

SEC v. Jason R. Hyatt, et al. LR-20667 04/18/2008

In the Matter of Gabelli Funds LLC IA-2727 04/24/2008

SEC v. Marc J. Gabelli, et al. LR-20539 04/24/2008

In the Matter of Alexander James Trabulse IA-2728 04/28/2008

In the Matter of Diversified Financial Corporation IA-2758 04/29/2008

In the Matter of Banc of America Investment Services, Inc., et al. 33-8913 05/01/2008

SEC v. Plus Money, Inc., et al. LR-20587 05/05/2008

In the Matter of John A. Baldo IA-2735 05/12/2008

SEC v. Stephen L. Hochberg LR-20616 05/21/2008

SEC v. James G. Marquez LR-20595A 05/22/2008

SEC v. LandOak Securities, LLC, et al. LR-20597 05/22/2008
11

Name of Case Release No. Date Filed

In the Matter of Robert Wildeman IA-2738 06/02/2008

SEC v. Frederick J. Barton, et al. LR-20609 06/03/2008

In the Matter of Amit Mathur IA-2754 06/04/2008

In the Matter of Douglas Ballew IA-2740 06/04/2008

In the Matter of James G. Marquez 34-57931 06/05/2008

In the Matter of Michael K. Brugman 34-57947 06/11/2008

SEC v. Stephen F. Clifford LR-20622 06/18/2008

SEC v. Ralph R. Cioffi, et al. LR-20625 06/19/2008

In the Matter of Stephen L. Hochberg, CPA IA-2749 06/30/2008

In the Matter of Francis J. Saldutti IA-2755 07/16/2008

In the Matter of Thomas C. Palmer, et al. IA-2757 07/23/2008

SEC v. Robert C. Brown, Jr., et al. LR-20653 07/23/2008

In the Matter of Pax World Management Corp. IA-2761 07/30/2008

In the Matter of Kevin Kelley IA-2764 07/31/2008

In the Matter of Kent D. Nelson IA-2765 08/01/2008

In the Matter of Robert L. Carver, et al. 34-58423 08/25/2008

SEC v. Mark E. Salyer, et al. LR-20696 08/28/2008

SEC v. James C. Dawson LR-20707 09/09/2008

SEC v. Mark D. Lay, et al. LR-20713 09/11/2008

In the Matter of Mark J.P. Boucher IA-2776 09/15/2008

In the Matter of Cornerstone Capital Management, Inc., et al. IA-2778 09/16/2008

In the Matter of Joseph C. Lavin IA-2782 09/19/2008

In the Matter of Evan K. Andersen IA-2783 09/22/2008

In the Matter of AmSouth Bank, N.A., et al. IA-2784 09/23/2008

In the Matter of Mark D. Lay IA-2786 09/23/2008

In the Matter of MDL Capital Management, Inc. IA-2785 09/23/2008

SEC v. Anthony A. James, et al. LR-20741 09/24/2008

SEC v. WealthWise, LLC, et al. LR-20737 09/24/2008

SEC v. Thomas J. Smith LR-20749 09/26/2008

In the Matter of Anthony A. James IA-2793 09/29/2008

In the Matter of Charles P. Trigilio IA-2792 09/29/2008

In the Matter of Daniel N. Jones IA-2795 09/30/2008

In the Matter of Michael Lauer IA-2794 09/30/2008

Investment Company

In the Matter of Aero Performance Products, Inc. 33-8968 09/29/2008

In the Matter of CLX Medical, Inc. 33-8966 09/29/2008

In the Matter of Green Globe International, Inc. 33-8965 09/29/2008

In the Matter of Rudy 45 33-8963 09/29/2008

In the Matter of S3 Investment Company, Inc. 33-8967 09/29/2008

In the Matter of Starinvest Group, Inc. 33-8964 09/29/2008

In the Matter of American Energy Production, Inc. 33-8972 09/30/2008

In the Matter of Atlantis Technology Group 33-8971 09/30/2008
12

Name of Case Release No. Date Filed

In the Matter of Global Beverage Solutions, Inc. 33-8973 09/30/2008

Issuer Reporting and Disclosure

SEC v. York International Corporation LR-20319 10/01/2007

SEC v. Nortel Networks Corporation, et al. AAER-2740 10/15/2007

SEC v. Urs Kamber, et al. AAER-2741 10/17/2007

In the Matter of MQ Associates, Inc. AAER-2744 10/18/2007

In the Matter of Thomas C. Gentry, CPA AAER-2743 10/18/2007

In the Matter of Fred Gold, CPA AAER-2747 10/25/2007

SEC v. David H. Brooks AAER-2746 10/25/2007

SEC v. Ingersoll-Rand Company, Ltd. LR-20353 10/31/2007

SEC v. Chevron Corporation LR-20363 11/14/2007

SEC v. Joseph J. Monterosso, et al. LR-20371 11/21/2007

In the Matter of Marshall W. Pagon, et al. 33-8867 12/04/2007

In the Matter of Michael K. Smith 33-8868 12/04/2007

SEC v. Carl W. Jasper LR-20381 12/04/2007

SEC v. Maxim Integrated Products, Inc., et al. LR-20381 12/04/2007

SEC v. William W. McGuire, M.D. AAER-2754 12/06/2007

SEC v. Thomas J. Saiz, et al. AAER-2755 12/10/2007

SEC v. Michael J. Nolan AAER-2757 12/12/2007

SEC v. Robert W. Philip LR-20397 12/13/2007

SEC v. Michael K. Openshaw AAER-2773 12/17/2007

SEC v. Joseph P. Collins LR-20402 12/18/2007

SEC v. Santo C. Maggio AAER-2758 12/19/2007

SEC v. Akzo Nobel, N.V. LR-20410 12/20/2007

SEC v. Robert Olins, et al. LR-20411 12/20/2007

SEC v. Lucent Technologies Inc. AAER-2760 12/21/2007

In the Matter of Michael J. Pietrzak 34-57051 12/27/2007

SEC v. Joseph F. Apuzzo AAER-2762 12/27/2007

In the Matter of Moneesh K. Bakshi 34-57064 12/28/2007

In the Matter of Daniel J. Skrypek, CPA AAER-2764 01/03/2008

In the Matter of Greg A. Gadel, CPA AAER-2765 01/03/2008

In the Matter of Santo C. Maggio AAER-2766 01/04/2008

In the Matter of Mark E. Sullivan AAER-2768 01/17/2008

SEC v. Andrew J. McKelvey LR-20435 01/23/2008

In the Matter of Michael Lowther, CPA AAER-2775 01/28/2008

In the Matter of Michael Odom, CPA AAER-2774 01/28/2008

In the Matter of Thomas H. Bauer, CPA AAER-2776 01/28/2008

SEC v. David B. Duncan AAER-2777 01/28/2008

In the Matter of David B. Duncan, CPA AAER-2778 01/30/2008

SEC v. Bartholomew F. Palmisano, Jr. LR-20454 02/07/2008

In the Matter of Robert A. Fish, CPA AAER-2783 02/11/2008

SEC v. R&G Financial Corporation LR-20455 02/13/2008
13

Name of Case Release No. Date Filed

In the Matter of AXM Pharma, Inc. AAER-2784 02/14/2008

In the Matter of Westinghouse Air Brake Technologies Corp. AAER-2785 02/14/2008

SEC v. Westinghouse Air Brake Technologies Corp. LR-20457 02/14/2008

In the Matter of Raquel Kohler, CPA AAER-2786 02/15/2008

In the Matter of Stephen Ziegler 34-57338 02/15/2008

In the Matter of Michael K. Openshaw, CPA AAER-2789 02/19/2008

SEC v. Phillip R. Bennett AAER-2008 02/19/2008

SEC v. Chester E. Howard AAER-2790 02/21/2008

SEC v. Flowserve Corporation LR-20461 02/21/2008

In the Matter of Duane Higgins, CPA AAER-2791 02/26/2008

In the Matter of Nicholas Difazio, CPA AAER-2792 02/26/2008

SEC v. Bally Total Fitness Holding Corporation LR-20470 02/28/2008

In the Matter of Richard E. Fresia, CPA AAER-2794 03/04/2008

SEC v. Nancy M. Tullos LR-20476 03/04/2008

SEC v. Timothy N. Jenson, et al. LR-20478 03/04/2008

In the Matter of Charles J. Spinelli, Esq. 34-57439 03/06/2008

In the Matter of Richard D. Nye, CPA AAER-2796 03/06/2008

In the Matter of William J. Rauwerdink, CPA AAER-2795 03/06/2008

SEC v. W. Anthony Huff, et al. LR-20612 03/06/2008

In the Matter of Gary Thomas Scherping, CPA AAER-2797 03/13/2008

In the Matter of Robert T. Bassman, CPA AAER-2800 03/18/2008

SEC v. W.P. Carey & Co. LLC, et al. LR-20501 03/18/2008

SEC v. AB Volvo LR-20504 03/20/2008

SEC v. Biovail Corporation, et al. AAER-2801 03/24/2008

SEC v. John N. Milne AAER-2807 04/04/2008

In the Matter of Craig J. Shaber 34-57635 04/08/2008

In the Matter of Kenneth M. Avery, CPA AAER-2809 04/14/2008

In the Matter of Melvin Dick, CPA AAER-2808 04/14/2008

SEC v. Broadcom Corp. AAER-2811 04/22/2008

In the Matter of Claude Fernandez (CPA) AAER-2812 04/23/2008

SEC v. Don L. Lambert LR-20538 04/24/2008

In the Matter of Michael J. Nolan AAER-2816 04/29/2008

SEC v. James J. Treacy AAER-2817 04/30/2008

In the Matter of Savvides & Partners/PKF Cyprus AAER-2823 05/01/2008

In the Matter of UTStarcom, Inc., et al. AAER-2821 05/01/2008

SEC v. GlobeTel Communications Corp., et al. LR-20550 05/01/2008

SEC v. Hong Liang Lu, et al. AAER-2820 05/01/2008

SEC v. Interpublic Group of Companies, Inc., et al. AAER-2819 05/01/2008

SEC v. Salvatore LaGreca, et al. AAER 2819 05/01/2008

SEC v. Marvell Technology Group, Ltd., et al. LR-20559 05/08/2008

SEC v. Brian Spears AAER-2825 05/13/2008

SEC v. Henry T. Nicholas III, et al. AAER-2827 05/14/2008

SEC v. Willbros Group, Inc., et al. AAER-2826 05/14/2008
14

Name of Case Release No. Date Filed

SEC v. Brooks Automation, Inc. AAER-2828 05/19/2008

SEC v. David M. Colburn, et al. AAER-2829 05/19/2008

SEC v. John Michael Kelly, et al. AAER-2829 05/19/2008

In the Matter of Michael Resnick, CPA AAER-2831 05/21/2008

In the Matter of Analog Devices, Inc., et al. 33-8923 05/30/2008

In the Matter of Christopher W. Kelford AAER-2833 05/30/2008

In the Matter of Dennis L. Hynson, CPA AAER-2834 05/30/2008

In the Matter of Paula J. Norbom, CPA AAER-2832 05/30/2008

SEC v. Analog Devices, Inc., et al. LR-20604 05/30/2008

In the Matter of Faro Technologies, Inc. AAER-2836 06/05/2008

In the Matter of Salvatore Lagreca, CPA AAER-2837 06/10/2008

In the Matter of Citigroup, Inc. AAER-2838 06/16/2008

In the Matter of NEC Corporation AAER-2839 06/17/2008

In the Matter of Preston D. Hopper, CPA AAER-2840 06/17/2008

In the Matter of Tamela Pallas AAER-2841 06/17/2008

SEC v. Microtune, Inc., et al. LR-20633 07/01/2008

SEC v. Daniel Kaiser, et al. LR-20639 07/09/2008

SEC v. Sycamore Networks, Inc., et al. AAER-2843 07/09/2008

SEC v. El Paso Corporation, et al. AAER-2844 07/11/2008

In the Matter of Michael J. Delargy, CPA AAER-2845 07/17/2008

SEC v. HCC Insurance Holdings, Inc., et al. AAER-2847 07/21/2008

SEC v. Scott Hirth, et al. LR-20650 07/22/2008

In the Matter of Frances M. Jewels AAER-2848 07/25/2008

In the Matter of Robin A. Friedman, Esq. 34-58233 07/25/2008

In the Matter of James B. Kinney, CMA AAER-2855 07/31/2008

SEC v. Jerry L. Burdick AAER-2857 07/31/2008

SEC v. Michael F. Crowley, Jr. AAER-2857 07/31/2008

In the Matter of Ernst & Young LLP, et al. AAER-2858 08/05/2008

In the Matter of Mark C. Thompson AAER-2859 08/05/2008

SEC v. Ali Hozhabri LR-20671 08/06/2008

SEC v. Prudential Financial, Inc. AAER-2860 08/06/2008

In the Matter of Jeffrey P. Jorissen (CPA) AAER-2862 08/12/2008

SEC v. David B. Stocker, et al. LR-20681 08/12/2008

In the Matter of Christopher L. Martin 34-58356 08/13/2008

In the Matter of Scott Hirth AAER-2863 08/13/2008

In the Matter of Con-Way Inc. AAER-2867 08/27/2008

SEC v. Con-way Inc. AAER-2866 08/27/2008

SEC v. Jeffrey Fishman LR-20691 08/27/2008

In the Matter of Alvin L. Dahl (CPA) AAER-2869 08/28/2008

In the Matter of Shane H. Traveller (CPA) AAER-2868 08/28/2008

In the Matter of Jerry L. Burdick, CPA AAER-2870 08/29/2008

In the Matter of Tracinda Corporation 34-58451 09/03/2008

SEC v. Albert Jackson Stanley AAER-2871 09/03/2008
15

Name of Case Release No. Date Filed

SEC v. Mark D. Woodburn, et al. AAER-2872 09/03/2008

SEC v. Retail Pro, Inc., et al. LR-20703 09/05/2008

SEC v. United Rentals, Inc. AAER-2874 09/08/2008

SEC v. Raj P. Sabhlok, et al. LR-20710 09/09/2008

SEC v. Stephen R. Wong LR-20710 09/09/2008

In the Matter of Mark David Shapiro (CPA) AAER-2876 09/12/2008

In the Matter of Mark A. Peterson (CPA) AAER-2878 09/15/2008

SEC v. American Italian Pasta Company AAER-2877 09/15/2008

SEC v. Bruce E. Karatz AAER-2879 09/15/2008

SEC v. Stephanie S. Ruskey AAER-2877 09/15/2008

SEC v. Timothy S. Webster AAER-2877 09/15/2008

SEC v. Warren B. Schmidgall, et al. AAER-2877 09/15/2008

In the Matter of Nancy R. Heinen AAER-2880 09/16/2008

SEC v. Angel Alvarez-Perez, et al. AAER-2881 09/17/2008

SEC v. Igal Kohavi, et al. LR-20724 09/17/2008

In the Matter of David Blain, CPA AAER-2882 09/19/2008

In the Matter of Norman Stumacher, CPA AAER-2883 09/23/2008

In the Matter of Bally Technologies, Inc. AAER-2885 09/24/2008

In the Matter of Beazer Homes USA, Inc. 33-8960 09/24/2008

In the Matter of Robert L. Saxton, CPA AAER-2886 09/24/2008

SEC v. Norman Stumacher AAER-2888 09/24/2008

SEC v. Steven M. Des Champs, et al. AAER-2887 09/24/2008

SEC v. Video Without Boundaries, Inc., et al. LR-20739 09/25/2008

In the Matter of Urs Kamber, CA AAER-2889 09/26/2008

In the Matter of Carole D. Argo, CPA AAER-2891 09/29/2008

In the Matter of Kevin Morano (CPA) AAER-2892 09/29/2008

In the Matter of Stephanie S. Ruskey (CPA) AAER-2890 09/29/2008

In the Matter of Inspire Pharmaceuticals, Inc., et al. 34-58690 09/30/2008

In the Matter of Timothy S. Webster (CPA) AAER-2893 09/30/2008

SEC v. Steven Wevodau LR-20756 09/30/2008

SEC v. The Penn Traffic Company LR-20760 09/30/2008

Market Manipulation

SEC v. Colonial Investment Management LLC, et al. LR-20332 10/15/2007

SEC v. Zev Saltsman, et al. LR-20341 10/19/2007

SEC v. Armstrong Capital Ltd., et al. LR-20361 11/08/2007

In the Matter of James Doolan 34-56966 12/14/2007

SEC v. Brian N. Lines, et al. LR-20733` 12/19/2007

SEC v. Ian G. Park LR-20407 12/19/2007

SEC v. Lawrence D. Isen LR-20407 12/19/2007

SEC v. Sedona Software Solutions, Inc., et al. LR-20407 12/19/2007

SEC v. Rhea Laws, et al. LR-20412 12/20/2007

SEC v. Anatoly Russ LR-20430 01/16/2008
16

Name of Case Release No. Date Filed

SEC v. Daryn P. Fleming, et al. LR-20442 01/23/2008

SEC v. International Broadcasting Corp. LR-20442 01/28/2008

SEC v. Robert F. Gruder, et al. LR-20555 01/28/2008

In the Matter of Kenneth M. Christison, Esq. 33-8892 02/07/2008

SEC v. Dean A. Esposito, et al. LR-20456 02/07/2008

SEC v. Strategic Management & Opportunity Corp., et al. LR-20451 02/07/2008

SEC v. GMC Holding Corporation, et al. LR-20620 02/22/2008

SEC v. Mario A. Pino LR-20466 02/25/2008

SEC v. Ryan M. Reynolds, et al. LR-20496 03/13/2008

SEC v. Robert M. Esposito, et al. LR-20499 03/17/2008

SEC v. CMKM Diamonds, Inc., et al. LR-20519 04/07/2008

SEC v. One or More Unknown Traders in the Common Stock of Certain Issuers LR-20520 04/07/2008

SEC v. Southwestern Medical Solutions, Inc., et al. LR-20530 04/16/2008

SEC v. Paul S. Berliner LR-20537 04/24/2008

In the Matter of Paul S. Berliner 34-57774 05/05/2008

In the Matter of Quogue Capital LLC, et al. 34-57804 05/08/2008

SEC v. Quogue Capital LLC, et al. LR-20561 05/08/2008

SEC v. Edgar E. Chapman LR-20616 06/11/2008

In the Matter of DKR Oasis Management Company, L.P. 34-57961 06/12/2008

SEC v. Joshua M. Eudowe LR-20617 06/13/2008

In the Matter of Joshua M. Eudowe 34-58031 06/26/2008

SEC v. Mark B. Lindberg LR-20645 07/14/2008

SEC v. Mobile Ready Entertainment Corp., et al. LR-20644 07/14/2008

SEC v. Homeland Safety International, Inc., f/k/a Sniffex, et al. LR-20645 07/15/2008

In the Matter of Newbridge Securities Corp., et al. 33-8946 07/25/2008

SEC v. Robert L. Sonfield, et al. LR-20665 07/29/2008

In the Matter of Lexington Resources, Inc., et al. 33-8948 07/31/2008

SEC v. Dmitriy Butko LR-20675 08/07/2008

SEC v. Alliance Transcription Services, Inc., et al. LR-20676 08/08/2008

SEC v. Francisco Abellan, et al. LR-20684 08/15/2008

SEC v. Bruce Grossman, et al. LR-20712 09/11/2008

In the Matter of Moon Capital Management, LP 34-58548 09/15/2008

SEC v. Glenn Grossman, et al. None 09/18/2008

SEC v. Jason Jadidian None 09/18/2008

In the Matter of Sirios Capital Management, LP 34-58634 09/24/2008

SEC v. Matthew A. Sarad, et al. LR-20745 09/25/2008

SEC v. Stephen Michael Strauss LR-20750 09/25/2008

In the Matter of Arthur S. Redler 34-58664 09/26/2008

In the Matter of Mitchell Steinberg 34-58663 09/26/2008

In the Matter of Victoire Finance Capital, LLC 34-58670 09/29/2008

SEC v. Luis E. Pallais, et al. LR-20762 09/30/2008

SEC v. U.S. Sustainable Energy Corp., et al. LR-20648 07/18/2008
17

Name of Case Release No. Date Filed

Miscellaneous

SEC v. Joshua S. Shainberg, et al. LR-20335 10/12/2007

SEC v. Mark Foglia, et al. LR-20390 12/07/2007

SEC v. Sean P. Sheehan LR-20390 12/07/2007

SEC v. Vincent Cammarata, et al. LR-20390 12/07/2007

SEC v. Virgil G. Williams LR-20390 12/07/2007

SEC v. William L. Haynes, et al. LR-20390 12/07/2007

SEC v. Linda Woolf, et al. LR-20486 03/11/2008

Municipal Offering

SEC v. Michael T. Uberuaga, et al. LR-20522 04/07/2008

SEC v. Larry P. Langford, et al. LR-20545 04/30/2008

Securities Offerings

SEC v. James B. Duncan, et al. LR-20469 02/27/2008

SEC v. Robert Louis Carver, et al. LR-20631 06/11/2008

SEC v. John E. Brake LR-20689 08/27/2008

SEC v. Robert Ray White Samples, et al. LR-20327 10/11/2007

In the Matter of Norman E. Schmidt 34-56675 10/18/2007

In the Matter of Packetport.com, Inc., et al. 33-8858 10/18/2007

SEC v. Calypso Financial, LLC, et al. LR-20344 10/24/2007

SEC v. Thompson Price Holding, Inc., et al. LR-20357 11/05/2007

In the Matter of Jeffrey D. Mitchell 34-56791 11/15/2007

SEC v. James Thomas Webb, et al. LR-20364 11/15/2007

SEC v. Edward P. May, et al. LR-20406 11/20/2007

SEC v. Eric R. Majors, et al. LR-20368 11/26/2007

SEC v. Rabinovich & Associates, LP, et al. LR-20637 11/26/2007

In the Matter of David A. Dadante IA-2678 11/29/2007

SEC v. Great American Technologies, Inc., et al. LR-20375 11/30/2007

SEC v. T-Bar Resources, LLC, et al. LR-20377 11/30/2007

SEC v. Robert E. Lane, et al. LR-20393 12/05/2007

SEC v. Terry E. Provence, et al. LR-20395 12/06/2007

SEC v. Ronald K. Bowen LR-20399 12/14/2007

In the Matter of MoneyMax Financial Solutions, Inc., et al. 33-8875 12/19/2007

In the Matter of James Casmay 34-57025 12/21/2007

SEC v. Jarrod W. McMillin, et al. LR-20415 12/21/2007

SEC v. Navigators International Management Co., Ltd., et al. LR-20416 12/27/2007

SEC v. Coadum Advisors, Inc., et al. LR-20444 01/03/2008

In the Matter of Euro Capital, Inc. 33-8953 01/04/2008

In the Matter of Joseph M. Malone 34-57124 01/10/2008

In the Matter of Ronald J. Nadel 34-57123 01/10/2008

SEC v. Bryan S. Behrens, et al. LR-20685 01/10/2008
18

Name of Case Release No. Date Filed

In the Matter of Clifton Curtis Sneed, Jr. 34-57215 01/28/2008

In the Matter of Thomas J. Dudchik, et al. 33-8886 01/30/2008

SEC v. F. Douglas Murrell LR-20448 01/30/2008

SEC v. VesCor Capital Corp., et al. LR-20450 02/06/2008

SEC v. Ameer Khan LR-20521 02/15/2008

SEC v. Raquel Kohler LR-20521 02/15/2008

SEC v. Stephen Ziegler LR-20521 02/15/2008

SEC v. Clean Care Technologies, Inc., et al. LR-20463 02/21/2008

In the Matter of Pamela J. Thompson 33-8899 02/25/2008

SEC v. Enterprise Trust Company, et al. LR-20635 03/03/2008

SEC v. Ralph Gregory Gibbs LR-20503 03/19/2008

In the Matter of Bruce Chet Rothenberg 34-57536 03/20/2008

SEC v. W Financial Group, LLC, et al. LR-20621 03/21/2008

SEC v. Gary L. McDuff, et al. LR-20512 03/26/2008

In the Matter of JP Morgan Chase & Co. 33-8906 03/27/2008

In the Matter of Val E. Southwick 34-57569 03/27/2008

SEC v. Madison Real Estate Group, LLC, et al. LR-20513 03/28/2008

SEC v. Compass Capital Group, Inc., et al. LR-20695 04/10/2008

In the Matter of Gary L. Lancaster 34-57677 04/17/2008

In the Matter of Peter A. Perez 34-57676 04/17/2008

In the Matter of Robert T. Reese 34-57678 04/17/2008

In the Matter of Clarence Friend 34-57694 04/21/2008

SEC v. Joseph Milanowski LR-20536 04/23/2008

In the Matter of Arthur Scheinert 34-57726 04/28/2008

SEC v. Safevest, LLC, et al. LR-20582 05/01/2008

SEC v. Gregory N. McKnight, et al. LR-20588 05/05/2008

SEC v. Gold-Quest International, et al. LR-20557 05/06/2008

SEC v. Jeanetta M. Standefor, et al. LR-20575 05/14/2008

SEC v. Watermark Financial Services Group, Inc., et al. LR-20628 05/16/2008

SEC v. Global Development & Environmental Resources, Inc. LR-20598 05/22/2008

SEC v. Icon World Resources Corp., et al. LR-20600 05/22/2008

SEC v. Michael J. McNaul, II, et al. LR-20608 05/28/2008

In the Matter of Allixon International Corporation 33-8925 06/02/2008

In the Matter of Terry E. Provence 34-57948 06/11/2008

In the Matter of John E. Tencza 34-57968 06/16/2008

In the Matter of Richard E. Riner 34-57969 06/16/2008

SEC v. One Equity Corp., et al. LR-20716 07/10/2008

In the Matter of Alex Rabinovich 34-58148 07/11/2008

In the Matter of Donald G. Ryan 34-58214 07/23/2008

In the Matter of Richard McGill, et al. 34-58213 07/23/2008

SEC v. Aerokinetic Energy Corporation, et al. LR-20655 07/23/2008

SEC v. Paul G. Merklinger, et al. LR-20666 07/24/2008

SEC v. Trinity International Enterprises, Inc., et al. LR-20657 07/28/2008
19

Name of Case Release No. Date Filed

In the Matter of Timothy L. Bradshaw 34-58472 08/05/2008

In the Matter of Martin A. Armstrong IA-2767 08/06/2008

In the Matter of Scott B. Hollenbeck 34-58316 08/06/2008

SEC v. Angel Acquisition Corp., et al. LR-20673 08/06/2008

SEC v. Global Materials & Services, Inc., et al. LR-20673 08/06/2008

In the Matter of Alexander & Wade, Inc., et al. 33-8954 08/07/2008

In the Matter of James M. Jordan 34-58338 08/11/2008

In the Matter of Mark G. Meyer 34-58339 08/11/2008

SEC v. Kay Services, LLC, et al. LR-20682 08/12/2008

In the Matter of Bryan S. Behrens 34-58360 08/14/2008

In the Matter of Mark T. Duboise, et al. 34-58359 08/14/2008

In the Matter of Warren T. Chambers 34-58402 08/21/2008

In the Matter of Raymond L. Leonard, Jr. 34-58409 08/22/2008

SEC v. Royal Forex Management, LLC, et al. LR-20688 08/22/2008

SEC v. Mark Joseph Peterson Boucher, et al. LR-20689 08/27/2008

SEC v. American Energy Resources Corp., et al. LR-20694 08/28/2008

In the Matter of William K. Boston, Jr. 34-58442 08/29/2008

SEC v. Donald D. LaBarre LR-20699 08/29/2008

SEC v. Steven Byers, et al. LR-20697 08/29/2008

In the Matter of Daryl Anderson 34-58449 09/02/2008

SEC v. Rick J. Boros, et al. LR-20704 09/03/2008

In the Matter of Joseph Yurkin 34-58464 09/04/2008

In the Matter of Digby M. Ferrera 34-58479 09/08/2008

In the Matter of Dmitry Kuperman 34-58478 09/08/2008

In the Matter of Igor Malyar 34-58476 09/08/2008

In the Matter of John R. Blot 34-58483 09/08/2008

In the Matter of Leslie A. James 34-58481 09/08/2008

In the Matter of Scott A. Ciappetta 34-58480 09/08/2008

In the Matter of Viktor Novosselov 34-58482 09/08/2008

In the Matter of Donald H. Allen 34-58531 09/12/2008

SEC v. Larry W. Kerschenbaum LR-20714 09/12/2008

SEC v. Jeanne M. Rowzee, et al. LR-20719 09/15/2008

In the Matter of Carl Q. Lee 34-58562 09/17/2008

In the Matter of Douglas B. Peterson 34-58559 09/17/2008

SEC v. Delta Onshore Management, LLC, et al. LR-20755 09/18/2008

In the Matter of Eric R. Wilkinson 33-8958 09/19/2008

SEC v. David William Thomas, et al. LR-20728 09/19/2008

SEC v. Nolan Wayne Wade LR-20734 09/22/2008

SEC v. Ryan M. Reynolds, et al. LR-20742 09/24/2008

SEC v. Rey Salomon, Jr., et al. LR-20747 09/25/2008

SEC v. Ricardo H. Goldman LR-20746 09/25/2008

In the Matter of David D. Klasna IA-2789 09/29/2008

In the Matter of David William Thomas 34-58674 09/29/2008
20

Name of Case Release No. Date Filed

In the Matter of Rey Salomon, Jr. 34-58679 09/29/2008

SEC v. William H. Eichengreen, et al. LR-20761 09/29/2008

In the Matter of Cassie E. Morris 33-8969 09/30/2008

In the Matter of Matt J. Cunningham 33-8970 09/30/2008

SEC v. Christopher Castaldo, et al. LR-20764 09/30/2008

SEC v. James N. Turek, et al. LR-20767 09/30/2008

SEC v. Michael Jinyong Park, et al. LR-20766 09/30/2008

Transfer Agent

In the Matter of Paul N. Germain 34-57402 02/09/2008

In the Matter of Executive Registrar & Transfer, Inc., et al. 34-57371 02/22/2008
21

Table 4

INVESTIGATIONS OF POSSIBLE VIOLATIONS OF THE ACTS

 ADMINISTERED BY THE COMMISSION

Pending as of October 1, 2007 ................................................................................... 4,545 

Opened in Fiscal Year 2008............................................................................... 890

Total ........................................................................................................................ 5,345

Closed in Fiscal Year 2008 ............................................................................. 1,355

Pending as of September 30, 2008 ............................................................................. 4,080

Formal Orders of Investigation

Issued in Fiscal Year 2008 ................................................................................. 233

Right to Financial Privacy

Section 21(h) of the Securities Exchange Act of 1934 [15 U.S.C. 78u(h)(6)] 

requires that the Commission “compile an annual tabulation of the occasions on 

which the Commission used each separate subparagraph or clause of [Section 

21(h)(2)] or the provisions of the Right to Financial Privacy Act of 1978 [12 

U.S.C. 3401-22 (the RFPA)] to obtain access to financial records of a customer 

and include it in its annual report to the Congress.” During the fiscal year, the 

Commission issued no subpoenas under Section 21(h). Set forth below are 

the number of occasions on which the Commission obtained customer records 

pursuant to the provisions of the RFPA: 

Section 1104 (Customer Authorizations) 24

Section 1105 (Administrative Subpoenas) 277

Section 1107 (Judicial Subpoenas) 21

Section 1109 (Delayed Customer Notice) 0

*****
22

 70,574 73,481 76,221 77,274 77,174 80,788

 -

 10,000

 20,000

 30,000

 40,000

 50,000

 60,000

 70,000

 80,000

 90,000

2003 2004 2005 2006 2007 2008

Table 5

SEC Total Investor Contacts by Fiscal Year
23

Complaint Type

FY 

2008 

Totals

FY 

2007 

Totals Change

Rank in 

2007

1 Short Selling 1,735 604 Up 187.25% 8

2 Advance Free Fraud:

Security Related 1,532 1,706 Down 10.20% 2

3 Misrepresentations: Inaccurate 

or Incomplete Disclosures 1130 458 Up 146.72% 10

4 Manipulation of Securities, 

Prices or Markets 910 899 Up 1.22% 3

5 SEC Rulemaking 

(complaints about) 886 132 Up 571.21% n/a

6 Account Closing: Problems 

with Redemption, 

Liquidation or Closing 867 641 Up 35.26% 7

7 Failure to Disclose Relevant 

Information About Investments 780 306 Up 154.90% n/a

8 Delivery of Funds or Proceeds 704 763 Down 7.73% 6

9 Transfer of Account 643 781 Down 17.67% 5

10 Theft of Funds or Securities 586 499 Up 17.43% 9

Table 6

TEN MOST COMMON COMPLAINTS 
24

 

 

2003 2004 2005 2006 2007

Revenues 

Securities Commissions $45,539.2 $47,569.0 $46,803.2 $49,671.4 $54,371.6 

Gains (Losses) in Trading and 

Investment Accounts 38,808.1 30,669.9 30,681.0 55,193.1 4,132.1 

Profits (Losses) from Underwriting

and Selling Groups 17,163.1 19,099.0 19,877.7 23,623.2 26,502.7 

Margin Interest 5,261.0 6,983.7 13,269.8 23,689.5 32,293.0 

Revenues from Sale of Investment 

Company Shares 16,200.2 18,549.9 20,698.8 23,346.0 26,227.5 

All Other Revenues 95,984.5 120,058.2 201,170.5 282,940.6 352,990.0 

Total Revenues $218,956.0 $242,929.6 $332,501.1 $458,463.7 $496,516.9 

 

Expenses 

Registered Representatives’ 

Compensation (Part II Only) 2/ $28,578.2 $29,973.4 $31,712.5 $36,606.7 $38,714.6 

Other Employee Compensation 

and Benefits 44,800.5 50,018.6 53,771.0 63,151.3 63,872.0

Compensation to Partners and 

Voting Stockholder Officers 4,058.2 3,488.2 3,329.9 3,623.8 3,718.4 

Commissions and Clearance Paid 

to Other Brokers 16,293.2 17,374.6 18,645.3 21,980.5 25,890.6 

Interest Expenses 44,443.9 59,726.0 140,239.9 226,146.5 282,238.7 

Regulatory Fees and Expenses 1,515.0 1,670.2 1,787.7 1,906.3 2,043.2 

All Other Expenses 2/ 53,611.5 57,489.7 61,830.8 66,481.3 74,978.6 

Total Expenses $193,300.6 $219,740.7 $311,317.0 $419,896.5 $491,456.0 

 

Income and Profitability 

Pre-tax Income $25,655.4 $23,188.9 $21,184.1 $38,567.2 $5,060.9 

Pre-tax Profit Margin 11.7% 9.5% 6.4% 8.4% 1.0%

Pre-tax Return on Equity 17.6% 15.0% 13.1% 22.1% 2.7%

 

Assets, Liabilities and Capital 

Total Assets $3,980,376.8 $4,830,925.7 $5,215,073.0 $6,221,520.8 $6,777,335.6 

Liabilities 

(a) Unsubordinated Liabilities 3,754,978.7 4,584,567.8 4,952,054.3 5,930,650.0 6,439,951.4 

(b) Subordinated Liabilities 75,929.5 86,665.6 98,912.6 106,241.0 150,895.3 

(c) Total Liabilities $3,830,908.2 $4,671,233.4 $5,050,966.9 $6,036,891.0 $6,590,846.7 

 

Ownership Equity $149,468.6 $159,692.3 $164,106.1 $184,629.7 $186,488.9 

 

Number of Firms 6,565 6,284 6,016 5,808 5,562 

 

Figures may not add due to rounding. 

1/ Calendar, rather than fiscal, year data is reported in this table.

2/ Registered representatives’ compensation for firms that neither carry nor clear is included in “other expenses”

 as this expense item is not reported separately on Part IIA of the FOCUS Report.

 

Source: FOCUS Report 

Table 7

UNCONSOLIDATED FINANCIAL INFORMATION FOR BROKER-DEALERS 

2003 - 2007 1/ 

($ in Millions) 
25

2003 2004 2005 2006 2007

Revenues 

Securities Commissions $44,868.3 $46,811.5 $46,246.4 $49,159.8 $53,946.1 

Gains (Losses) in Trading and 

Investment Accounts 33,747.9 26,045.4 25,931.9 48,217.5 -2,964.0 

Profits (Losses) from Underwriting

and Selling Groups 17,163.1 19,099.0 19,879.2 23,627.9 26,502.7 

Margin Interest 5,252.9 6,924.4 13,246.0 23,687.7 32,286.9 

Revenues from Sale of Investment 

Company Shares 16,200.1 18,549.9 20,698.9 23,346.0 26,227.5 

All Other Revenues 95,559.2 117,602.0 195,297.6 272,325.1 339,802.4 

Total Revenues $212,791.5 $235,032.3 $321,300.0 $440,364.0 $475,801.5 

 

Expenses 

Registered Representatives’

Compensation (Part II Only) 2/ $28,567.6 $29,959.0 $31,711.6 $36,604.7 $38,691.8 

Other Employee Compensation

and Benefits 43,885.8 49,178.7 52,908.1 62,146.3 62,858.4 

Compensation to Partners and 

Voting Stockholder Officers 3,855.3 3,319.3 3,165.1 3,449.7 3,569.9 

Commissions and Clearance Paid 

to Other Brokers 15,803.2 16,909.9 18,258.9 21,479.0 25,305.1 

Interest Expenses 43,315.8 57,913.6 136,122.4 217,923.2 271,874.1 

Regulatory Fees and Expenses 1,280.5 1,464.3 1,557.0 1,632.3 1,824.1 

All Other Expenses 2/ 51,722.7 55,466.3 59,963.3 63,809.1 71,520.4 

Total Expenses $188,430.8 $214,211.0 $303,686.4 $407,044.2 $475,643.7 

 

Income and Profitability 

Pre-tax Income $24,360.7 $20,821.3 $17,613.6 $33,319.8 $157.8 

Pre-tax Profit Margin 11.4% 8.9% 5.5% 7.6% 0.0%

Pre-tax Return on Equity 18.8% 14.9% 12.0% 21.3% 0.1%

 

Number of Firms 5,301 5,231 5,143 5,077 4,991 

 

Figures may not add due to rounding. 

1/ Calendar, rather than fiscal, year data is reported in this table.

2/ Registered representatives’ compensation for firms that neither carry nor clear is included in “other expenses”

 as this expense item is not reported separately on Part IIA of the FOCUS Report. 

 

 

Source: FOCUS Report 

Table 8

UNCONSOLIDATED ANNUAL REVENUES AND EXPENSES FOR BROKER-DEALERS 

DOING A PUBLIC BUSINESS 

2003 - 2007 1/ 

($ in Millions) 
26

2003 2004 2005 2006 2007

Assets

Cash $50,219.2 $64,996.5 $59,502.8 $85,695.8 $109,501.5

Receivables from Other

Broker-Dealers 1,414,127.2 1,792,465.9 1,941,595.2 2,465,769.3 2,534,768.8

Receivables from Customers 163,107.2 214,374.0 202,277.2 252,147.2 261,413.4

Receivables from Non-customers 18,124.0 44,085.5 28,989.0 37,937.7 65,205.8

Long Positions in Securities

and Commodities 1,004,562.4 1,071,660.1 1,184,107.5 1,383,270.8 1,593,015.7

Securities and Investments 

not Readily Marketable 11,516.8 13,489.6 14,696.7 19,615.7 21,165.2

Securities Purchased Under Agreements 

to Resell (Part II only) 2/ 966,629.5 1,189,010.4 1,288,647.4 1,342,498.3 1,473,453.8

Exchange Membership 675.2 666.5 769.3 312.1 343.1

Other Assets 2/ 154,872.6 213,735.9 249,177.4 320,858.9 355,164.4

Total Assets $3,783,834.1 $4,604,484.3 $4,969,762.5 $5,908,105.6 $6,414,031.7

 

Liabilities and Equity Capital

Bank Loans Payable $74,199.5 $90,173.4 $97,655.4 $104,855.4 $114,438.7

Payables to Other Broker-dealers 742,116.9 1,033,641.6 1,018,199.3 1,222,095.1 1,302,092.0

Payables to Non-customers 66,146.9 63,782.6 67,301.4 102,941.8 105,636.7

Payables to Customers 407,244.9 510,339.9 508,372.3 560,712.9 761,135.8

Short Positions in Securities 

and Commodities 439,384.4 504,689.8 487,003.6 558,532.3 523,353.2

Securities Sold Under Repurchase 

Agreements (Part II only) 2/ 1,564,762.4 1,801,674.5 2,124,355.6 2,579,075.1 2,796,745.3

Other Non-subordinated Liabilities 2/ 280,547.5 370,991.2 421,882.5 10,191.8 492,080.3

Subordinated Liabilities 74,285.9 84,628.1 96,871.1 104,311.0 149,696.4

Total Liabilities $3,648,688.4 $4,459,921.2 $4,821,641.1 $5,742,715.4 $6,245,178.3

 

Equity Capital $135,145.7 $144,563.1 $148,121.4 $165,390.2 $168,853.5

 

Number of Firms 5,301 5,231 5,143 5,077 4,991

 

 

Figures may not add due to rounding. 

1/ Calendar, rather than fiscal, year data is reported in this table.

2/ Resale agreements and repurchase agreements for firms that neither carry nor clear are included in “other

assets” and “other non-subordinated liabilities,” respectively, as these items are not reported separately

on Part IIA of the FOCUS Report. 

 

Source: FOCUS Report 

 

Table 9

UNCONSOLIDATED BALANCE SHEET FOR BROKER-DEALERS 

DOING A PUBLIC BUSINESS 

YEAR-END, 2003 - 2007 1/ 

($ in Millions) 
27

2006	 2007	 	

Percent	 Percent	 Percent	

of Total	 of Total	 Change	

Dollars	 Revenues	 Dollars	 Revenues	 2006-2007	

Revenues 	 	 	 	 	 	

Securities Commissions	 $34,740.1	 9.1%	 $38,404.5	 9.3%	 10.5%	

Gains (Losses) in Trading and	 	 	

	 Investment Accounts	 42,245.9 	 11.1 	 -6,971.4	 -1.7	 -116.5

Profits (Losses) from

	 Underwriting and Selling Groups	 22,093.3	 5.8 	 24,657.8 	 6.0	 11.6

Margin Interest	 23,687.7 	 6.2 	 32,286.9 	 7.8	 36.3

Revenues from Sale of

	 Investment Company Shares	 12,241.8	 3.2	 14,003.6	 3.4	 14.4

Miscellaneous Fees	 21,052.7	 5.5	 26,054.4	 6.3	 23.8

Revenues from Research	 212.5	 0.1	 54.3	 0.0	 -74.4

Commodities Revenues	 964.7	 0.3	 2,745.2	 0.7	 184.6

All Other Revenues	 224,249.3	 58.8	 280,344.1	 68.1	 25.0

Total Revenues	 $381,488.0 	 100.0%	 $411,579.3 	 100.0%	 7.9%	 	

	 	 	 	 	 	 	 	

Expenses

Registered Representatives’	 	 	 	 	 	 	

	 Compensation	 $36,604.7	 9.6%	 $38,691.8	 9.4%	 5.7%	

Other Employee Compensation	 	 	 	 	 	 	

	 and Benefits	 46,937.7	 12.3	 46,342.3	 11.3	 -1.3

Compensation to Partners and	 	 	 	 	 	 	

	 Voting Stockholder Officers	 1,026.9	 0.3 	 1,240.	 0.3	 20.8

Commissions and Clearance Paid	 	 	 	 	 	 	

	 to Other Brokers	 9,597.9	 2.5	 10,896.5	 2.6 	 13.5

Communications	 5,555.5	 1.5	 6,013.5	 1.5	 8.2

Occupancy and Equipment Costs	 6,426.3	 1.7	 6,633.4	 1.6	 3.2

Data Processing Costs	 3,722.1	 1.0	 3,807.8	 0.9	 2.3

Interest Expenses	 217,163.4	 56.9	 270,994.1	 65.8	 24.8

Regulatory Fees and Expenses	 1,352.5	 0.4	 1,530.0	 0.4	 13.1

Losses in Error Accounts and	 	 	 	 	 	 	

	 Bad Debts	 403.4	 0.1	 243.4	 0.1	 -39.7

All Other Expenses	 26,029.6	 6.8	 31,684.2	 7.7	 21.7

Total Expenses	 $354,820.0	 93.0%	 $418,077.8	 101.6%	 17.8%	 	

	 	 	 	

Income and Profitability

Pre-tax Income	 $26,668.0	 7.0%	 -$6,498.4	 -1.6%	 -124.4%	

Pre-tax Profit Margin	 	 7.0%	 -1.6%	 	

Pre-tax Return on Equity	 	 20.3%	 -4.7%	 	 	 	

	 	

Number of Firms	 	 550 	 545 	 	

Figures may not add due to rounding.	 	 	 	 	 	 	

1/ Calendar, rather than fiscal, year data is reported in this table.	 	 	 	 	 	

Note: Includes information for firms doing a public business that carry customer accounts or clear securities transactions.	 	

Source: FOCUS Report	 	 	 	 	 	 	

	 	 	 	 	 	

Table 10

UNCONSOLIDATED REVENUES AND EXPENSES FOR 

CARRYING/CLEARING BROKER-DEALERS 1/ 

($ in Millions)
28

2006	 2007	 	

Percent	 Percent	 Percent

of Total	 of Total	 Change

Dollars	 Assets	 Dollars	 Assets	 2006-2007

Assets 	 	 	 	 		

Cash	 $81,461.2	 1.4%	 $104,185.6	 1.6%	 27.9%	

Receivables from Other Broker-Dealers	 2,451,951.2	 42.1%	 2,516,269.9	 39.8	 2.6

	 (a) Securities Failed to Deliver	 44,726.5	 0.8%	 60,181.3	 1.0	 34.6

	 (b) Securities Borrowed	 2,313,808.9	 39.7%	 2,347,269.7	 37.1	 1.4

	 (c) Other	 93,415.8	 1.6%	 108,818.9	 1.7	 16.5

Receivables from Customers	 252,147.2	 4.3%	 261,413.4	 4.1	 3.7

Receivables from Non-customers	 36,798.2	 0.6%	 63,755.7	 1.0	 73.3

Long Positions in Securities and Commodities	 1,330,128.7	 22.8%	 1,544,687.8	 24.4	 16.1

	 (a) Bankers Acceptances, Certificates	 	 	 	 	 		

of Deposit and Commercial Paper	 68,607.3	 1.2%	 86,400.1	 1.4	 25.9

	 (b) U.S. and Canadian Government Obligations	 592,977.1	 10.2%	 728,555.5	 11.5	 22.9

	 (c) State and Municipal Government Obligations	 50,605.4	 0.9%	 49,316.1	 0.8	 -2.5

	 (d) Corporate Obligations	 341,789.4	 5.9%	 365,368.6	 5.8	 6.9

	 (e) Stocks and Warrants	 185,705.5	 3.2%	 217,586.0	 3.4	 17.2

	 (f) Options	 24,271.4	 0.4%	 32,627.0	 0.5 	 34.4

	 (g) Arbitrage	 27,350.4	 0.5%	 13,000.0	 0.2	 -52.5

	 (h) Other Securities	 38,909.5	 0.7%	 51,282.3	 0.8	 31.8

	 (i) Spot Commodities	 73.9	 0.0%	 1,528.5	 0.0	 1968.3

Securities and Investments Not Readily Marketable	 18,796.1	 0.3%	 20,487.9	 0.3	 9.0

Securities Purchased Under Agreements	 	 	 	 	 		

	 to Resell	 1,342,498.3	 23.1%	 1,473,453.8	 23.3	 9.8

Exchange Membership	 304.4	 0.0%	 321.7	 0.0	 5.7

Other Assets	 308,159.9	 5.3%	 341,136.1	 5.4	 10.7

Total Assets	 $5,822,245.1	 100.0%	 $6,325,712.0	 100.0%	 8.6%	

	 	 	 	 	 	

Liabilities and Equity Capital 	 	 	 	 		

Bank Loans Payable	 $93,871.2	 1.6%	 $103,303.2	 1.6%	 10.0%	

Payables to Other Broker-dealers	 1,202,872.0	 20.7%	 1,276,349.5	 20.2	 6.1

	 (a) Securities Failed to Receive	 53,379.9	 0.9%	 77,301.4	 1.2	 44.8

	 (b) Securities Loaned	 1,092,474.4	 18.8%	 1,128,205.9	 17.8	 3.3

	 (c) Other	 57,017.7	 1.0%	 70,842.2	 1.1	 24.2

Payables to Non-customers	 102,064.8	 1.8%	 104,548.6	 1.7	 2.4

Payables to Customers	 560,712.9	 9.6%	 761,135.8	 12.0	 35.7

Short Positions in Securities	 	 	 	 	 		

	 and Commodities	 540,380.2	 9.3%	 512,768.9	 8.1	 -5.1

Securities Sold Under Repurchase	 	 	 	 	 		

	 Agreements	 2,579,075.1	 44.3%	 2,796,745.3	 44.2	 8.4

Other Non-subordinated Liabilities	 503,242.1	 8.6%	 484,450.2	 7.7	 -3.7

Subordinated Liabilities	 101,507.1	 1.7%	 146,900.4	 2.3	 44.7

Total Liabilities	 $5,683,725.4	 97.6%	 $6,186,201.9	 97.8%	 8.8%	

	 	 	 	 	 	

Equity Capital	 $138,519.6	 2.4%	 $139,510.1	 2.2%	 0.7%	

	 	 	 	 	 	

Number of Firms	 550	 	 545	 	 		

	 	 	 	 	 	

Figures may not add due to rounding.	 	 	 	 	

1/ Calendar, rather than fiscal, year data is reported in this table.	 	 	 	 	

Note: Includes information for firms doing a public business that carry customer accounts or clear securities transactions.	 		

Source: FOCUS Report 	 	 	 	 		

	 	 	 	

Table 11

UNCONSOLIDATED BALANCE SHEET FOR CARRYING/CLEARING 

BROKER-DEALERS 1/ 

($ in Millions)
29

Option

Exercises Security

Equity Option and Futures Futures

Year Total Trading Trading Deliveries Trading1

1990 $2,229,226 $2,153,676 $27,219 $48,331

1991 $2,666,702 $2,590,422 $27,104 $49,177

1992 $3,148,024 $3,077,507 $26,586 $43,931

1993 $4,261,937 $4,179,743 $33,779 $48,415

1994 $4,591,283 $4,501,577 $35,883 $53,823

1995 $6,321,475 $6,207,746 $50,803 $62,926

1996 $8,266,339 $8,123,748 $67,862 $74,729

1997 $11,692,830 $11,487,872 $104,535 $100,422

1998 $15,164,183 $14,903,153 $140,261 $120,769

1999 $23,218,783 $22,813,331 $260,294 $145,159

2000 $36,275,278 $35,557,087 $485,106 $233,085

2001 $26,138,050 $25,636,203 $277,549 $224,298

2002 $23,028,157 $22,657,944 $161,278 $208,935 307,169

2003 $22,737,469 $22,291,534 $164,085 $281,851 2,501,247

2004 $27,875,851 $27,158,223 $222,962 $494,666 2,175,093

2005 $34,567,253 $33,222,357 $350,365 $994,531 5,493,850

2006 $43,938,686 $41,795,886 $531,302 $1,611,498 7,793,480

2007 $66,147,573 $63,075,954 $860,659 $2,210,959 7,858,431

Calendar Year 2007

Amex $715,610 $453,649 $71,238 $190,723 0

BSE $159,884 $34,329 $35,856 $89,699 0

CBOE $821,233 $77,908 $215,872 $527,453 0

CHX $400,248 $400,248 $0 $0 0

CMX $3 $0 $0 $3 3,105

FINRA $15,768,835 $15,768,835 $0 $0 0

ISE $1,015,157 $314,227 $200,171 $500,760 0

NASDAQ $17,111,515 $17,111,515 $0 $0 0

NSX $320,453 $320,453 $0 $0 0

NYSE $17,290,341 $17,290,341 $0 $0 0

OneChicago $28,388 $0 $0 $28,388 7,855,326

PCX $11,872,849 $11,240,419 $174,866 $457,564 0

PHLX $643,057 $64,030 $162,656 $416,371 0

Data are the value of all sales of equities and options listed on an exchange or subject to last-sale

reporting. Also reported are the value of such options that were exercised, the value of single-stock

futures that were delivered, and the number of round turn contracts in single-stock futures traded on an

exchange. Specifically excluded are options and futures on indexes.

This is the number of round turn contracts, or one purchase and one sale of a contract for future delivery. 

Security futures began trading in November 2002.

Sources: Form R31 for October 2003 and later months. For September 2003 and earlier months,

submissions to the SEC by national securities exchanges, the NASD, and the OCC, and various issues of

the Nasdaq Factbook.

Table 12

TRANSACTION ACTIVITY IN EQUITIES, OPTIONS, AND SECURITY FUTURES

Market Value of Sales (Millions)