Table of Contents

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

Enforcement Actions Initiated by the Commission ............................................... 3

Fiscal 2005 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 2005............................................ 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

Securities Listed on Exchanges ............................................................................ 30

Value of Stocks Listed on Exchanges ................................................................... 31

SELECT SEC AND MARKET DATA

FISCAL 2005


•	 Obtained orders in SEC judicial and administrative

proceedings requiring securities violators to disgorge

illegal profits of approximately $1.6 billion and to 

pay penalties of approximately $1.5 billion.

• Sought orders barring 150 defendants and respondents 

from serving as officers or directors of public companies.

• Sought emergency relief from federal courts in 

the form of temporary restraining orders (TROs) 

to halt ongoing fraudulent conduct in 31 actions, 

and sought asset freezes in 34 actions.

• Filed 6 actions to enforce investigative subpoenas.

• Halted trading in securities of 118 issuers about 

which there was inadequate public disclosure.

Table 1

ENFORCEMENT MILESTONES 

FISCAL 2005

In SEC-related criminal cases, prosecutors filed indictments, 

informations, or contempts in 108 cases.


Table 2

FISCAL 2005 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 21A Reports Total

% of Total 

Actions

Issuer Reporting and Disclosure 94 (218) 90 (125) 1 (1) 185 (344) 29%

Broker Dealer 20 (58) 74 (117) 0 (0) 94 (175) 15%

Investment Advisers 25 (57) 70 (102) 0 (0) 95 (159) 15%

Securities Offering Cases 34 (166) 26 (37) 0 (0) 60 (203) 9%

Delinquent Filings 60 (126) 0 (0) 0 (0) 60 (126) 9%

Insider Trading Cases 42 (85) 8 (9) 0 (0) 50 (94) 8%

Market Manipulation Cases 30 (95) 16 (28) 0 (0) 46 (123) 7%

Civil Contempt 23 (38) 0 (0) 0 (0) 23 (38) 4%

Transfer Agents 2 (2) 3 (5) 0 (0) 5 (7) 1%

Municipal Offering 1 (2) 3 (5) 0 (0) 4 (7) 1%

Self-Regulatory Organization 1 (1) 3 (5) 0 (0) 4 (6) 1%

Investment Companies 2 (2) 0 (0) 0 (0) 2 (2) 0.5%

Miscellaneous Cases 1 (1) 1 (1) 0 (0) 2 (2 0.5%

TOTALS 335 (851) 294 (434) 1 (1) 630 (1286) 100%


Table 3

FISCAL 2005 ENFORCEMENT CASES

LISTED BY PROGRAM AREA

Name of Case Release Number Date Filed

Broker-Dealer

In the Matter of Stanley B. Wasser 34-50482 10/01/2004

SEC v. Bill L. Stapleton LR-18960 10/01/2004

In the Matter of Calvin E. Moore, Jr. 34-50496 10/06/2004

In the Matter of John N. Salerno 34-50504 10/08/2004

In the Matter of Joseph J. Salerno, III, et al. 34-50503 10/08/2004

In the Matter of David A. Zimmerman 34-50517 10/12/2004

In the Matter of Michael A. Lomas, et al. 34-50551 10/15/2004

In the Matter of Thomas J. Donovan 34-50580 10/21/2004

In the Matter of Benny G. Morris 34-50592 10/26/2004

In the Matter of Carlos H. Soto 34-50646 11/08/2004

In the Matter of Bruce D. Oakes 34-50743 11/29/2004

In the Matter of Marc Freeman 33-8509 12/07/2004

In the Matter of Thomas H. Keesee 34-50803 12/07/2004

In the Matter of First Command Financial Planning, Inc. 33-8513 12/15/2004

In the Matter of Knight Securities LP 34-50867 12/16/2004

In the Matter of Lonnie Dragon 34-50875 12/17/2004

In the Matter of Edward D. Jones & Co., L.P. 33-8520 12/22/2004

In the Matter of Mark J. Chavez 34-50913 12/22/2004

In the Matter of Mark K. Menzel 33-8519 12/22/2004

In the Matter of Southwest Securities, Inc., et al. 34-51002 01/10/2005

SEC v. Scott B. Gann, et al. LR-19027 01/10/2005

SEC v. J.M. Dutton & Associates, LLC LR-19046 01/19/2005

SEC v. Goldman Sachs & Co. LR-19051 01/25/2005

SEC v. Morgan Stanley & Co. Incorporated LR-19050 01/25/2005

In the Matter of Marketxt, Inc., et al. 33-8533 02/09/2005

SEC v. Marion D. Sherrill LR-19076 02/09/2005

In the Matter of J.P. Morgan Securities Inc. 34-52100 02/14/2005

In the Matter of Gerald F. Hunter, Jr. 34-51207 02/15/2005

SEC v. Tonino Labella, et al. LR-19080 02/15/2005

In the Matter of Brean Murray & Co., Inc. 34-51219 02/17/2005

SEC v. David S. Davidson, et. al. LR-19090 02/17/2005

In the Matter of Norman P. Rounds 34-51308 03/03/2005

In the Matter of C. Dennis McKittrick 34-51349 03/09/2005

In the Matter of William H. Rogers 34-51345 03/09/2005

SEC v. Frank J. Furino LR-19126 03/09/2005


In the Matter of Robert A. Tommassello 34-51384 03/16/2005

SEC v. T. Gene Gilman, et al. LR-19144 03/17/2005

In the Matter of Charles Zandford 34-51404 03/21/2005

In the Matter of Robert T. Kirk, Jr. 34-51408 03/22/2005

In the Matter of Capital Analysts, Incorporated 33-8556 03/23/2005

In the Matter of Citigroup Global Markets, Inc. 33-8557 03/23/2005

In the Matter of Lewis Henry Hodge, et al. 34-51422 03/23/2005

In the Matter of Charles Dwain Davis, Jr. 34-51505 04/07/2005

SEC v. Philip D. Phillips, et al. LR-19178 04/07/2005

In the Matter of Allen S. Freed 34-51532 04/12/2005

In the Matter of David A. Finnerty, et al. 34-51525 04/12/2005

In the Matter of Marc N. Siegel 34-51531 04/12/2005

In the Matter of vFinance Investments, Inc. 34-51530 04/12/2005

In the Matter of Raffi Oghlian 34-51560 04/15/2005

In the Matter of Anthony Bisceglie 34-51571 04/19/2005

In the Matter of Andrew E. Gold 34-51585 04/20/2005

SEC v. Joseph W. Leighton LR-19193 04/20/2005

In the Matter of Charles J. Addeo 34-51589 04/21/2005

In the Matter of Fiserv Securities, Inc., et al. 34-51588 04/21/2005

SEC v. Thomas J. Gerbasio, et al. LR-19197 04/21/2005

In the Matter of Gary Todd 34-51679 05/10/2005

In the Matter of Christopher Quintana 34-51701 05/17/2005

In the Matter of Joseph W. Leighton 34-51699 05/17/2005

In the Matter of Suntrust Securities, Inc. 34-51700 05/17/2005

In the Matter of Vincent Langella 34-51702 05/18/2005

In the Matter of John B. Hoffmann, et al. 34-51713 05/19/2005

In the Matter of Charles J. O’Brien, Jr., et al. 33-8578 05/31/2005

In the Matter of Michael F. Hollendoner 34-51792 06/07/2005

In the Matter of Peter J. Burns 34-51793 06/07/2005

In the Matter of Carlos A. Shibata 34-51804 06/08/2005

In the Matter of Joseph Ferragamo 34-51819 06/10/2005

In the Matter of Banc Of America Investment Services, Inc., et al. 34-51852 06/15/2005

SEC v. Jackie Gross, et al. LR-19275 06/20/2005

In the Matter of Raymond L. Braun, Jr. 34-51914 06/23/2005

In the Matter of Jeffrey Szur, et al. 34-51945 06/30/2005

SEC v. Scott A. Christian LR-19294 07/07/2005

In the Matter of UBS Securities LLC (f/k/a UBS Warburg LLC) 34-52022 07/13/2005

In the Matter of Stacey J. Blake 33-8586 07/14/2005

In the Matter of Michael J. Cemo 34-52055 07/18/2005

In the Matter of Canadian Imperial Holdings Inc., et al. 33-8592 07/20/2005

Name of Case Release Number Date Filed


In the Matter of Thomas J. Downey, et al. 34-52108 07/22/2005

In the Matter of Prudential Equity Group, LLC, f/k/a Prudential Securities Inc. 34-52116 07/25/2005

In the Matter of Frank Persico 34-52137 07/27/2005

In the Matter of Scott A. Christian 34-52163 07/29/2005

In the Matter of Jeffrey L. Pittsburg 34-52186 08/01/2005

In the Matter of Chauncey D. Steele 34-52190 08/02/2005

In the Matter of Russell W. Jones 34-52211 08/04/2005

SEC v. Kenneth D. Pasternak, et al. LR-19329 08/08/2005

SEC v. John J. Amore, et al. LR-19335 08/15/2005

In the Matter of Barry Alan Bingham 34-52318 08/23/2005

In the Matter of Laurene U. English 34-52320 08/23/2005

SEC v. Michael Kogan, et al. LR-19366 09/08/2005

In the Matter of Eric J. Laucius 34-52456 09/16/2005

In the Matter of John C. Kawas, Jr. 34-52453 09/16/2005

In the Matter of Michael Kogan 34-52455 09/16/2005

In the Matter of Legg Mason Wood Walker, Incorporated 34-52478 09/21/2005

In the Matter of Victor Lessinger 34-52498 09/23/2005

SEC v. William Sears, et al. LR-19395 09/26/2005

SEC v. Ehrenkrantz King Nussbaum., Inc., et al. LR-19410 09/30/2005

Contempt Civil

SEC v. Michael Lauer LR-18991 10/22/2004

SEC v. Koji Goto, et al. LR-18965 11/01/2004

SEC v. David Rubin None 11/18/2004

SEC v. Joel Steinger None 12/06/2004

SEC v. Michael Lauer LR-19018 12/09/2004

SEC v. Michael Lauer LR-19019 12/20/2004

SEC v. Ulysses “Thomas” Ware, et al. None 12/21/2004

SEC v. Ronald Pellett, et al. None 12/27/2004

SEC v. Charles G. Dyer, et al. LR-19035 01/13/2005

SEC v. Randall T. Treadwell LR-19059 01/27/2005

SEC v. Christiano Hashimoto LR-19096 01/31/2005

SEC v. Michael D. Carnicle None 01/31/2005

SEC v. Chan M. Desaigoudar LR-19102 02/24/2005

SEC v. Rodd Buckle LR-19155 03/07/2005

SEC v. C. Kelly Olsen None 03/25/2005

SEC v. Ellsworth Wayne McLaws None 03/25/2005

SEC v. Joseph A. Ferona None 04/27/2005

SEC v. Joel Steinger, et al. None 05/25/2005

SEC v. Gerald L. Rogers None 06/20/2005

SEC v. Luis M. Cornide, et al. None 07/15/2005

SEC v. Robert A. De La Riva, et al. None 07/22/2005

Name of Case Release Number Date Filed


SEC v. Michael A. Lomas LR-19354 08/26/2005

SEC v. Randall T. Treadwell LR-19384 09/19/2005

Delinquent Filing: Issuer Reporting

In the Matter of Safescript Pharmacies Inc, f/k/a RTIN Holdings Inc. 34-50494 10/05/2004

In the Matter of Soulfood Concepts, Inc. 34-50512 10/12/2004

In the Matter of Neurotech Development Corp. 34-50612 10/29/2004

In the Matter of 21st Century Wireless Group, Inc. 34-50761 12/01/2004

In the Matter of Abacan Resources Corp., et al. 34-50771 12/01/2004

In the Matter of American Multiplexer Corp., et al. 34-50771 12/01/2004

In the Matter of Asset Equity Group, Inc., et al. 34-50771 12/01/2004

In the Matter of Bigmar, Inc. 34-50768 12/01/2004

In the Matter of Biogan International, Inc. 34-50766 12/01/2004

In the Matter of Bluestar Enterprises, Inc. 34-50767 12/01/2004

In the Matter of Centura Software Corp. 34-50765 12/01/2004

In the Matter of Directshoes.Com, Inc. 34-50764 12/01/2004

In the Matter of Healthwatch, Inc. 34-50763 12/01/2004

In the Matter of Learncom, Inc. 34-50769 12/01/2004

In the Matter of Marchfirst, Inc. 34-50762 12/01/2004

In the Matter of Winstar Communications, Inc. 34-50770 12/01/2004

In the Matter of Homeland Security Technology, Inc. 34-51088 01/28/2005

In the Matter of Morgan Cooper, Inc. 34-51089 01/28/2005

In the Matter of Greentech USA, Inc. 34-51193 02/11/2005

In the Matter of Information Architects Corporation 34-51193 02/11/2005

In the Matter of Investment Technology, Inc. 34-51194 02/11/2005

In the Matter of Tekron, Inc. 34-51193 02/11/2005

In the Matter of Digi Link Technologies, Inc. 34-51196 02/14/2005

In the Matter of Advanced Solutions And Technologies, Inc., et al. 34-51202 02/15/2005

In the Matter of Amitelo Communications, Inc., et al. 34-51202 02/15/2005

In the Matter of Drkoop.Com, Inc., et al. 34-51202 02/15/2005

In the Matter of Eagletech Communications, Inc. 34-51203 02/15/2005

In the Matter of Select Media Communications, Inc. 34-51204 02/15/2005

In the Matter of First Pacific Networks, Inc. 34-51353 03/10/2005

In the Matter of CMKM Diamonds, Inc. 34-51383 03/16/2005

In the Matter of Infotopia, Inc. 34-51387 03/17/2005

In the Matter of Tamarak, Inc. 34-51461 03/31/2005

In the Matter of Asia Pulp & Paper Company, Ltd. 34-51466 04/01/2005

In the Matter of Gateway International Holdings, Inc., et al. 34-51527 04/12/2005

In the Matter of Hosoi Garden Mortuary, Inc. 34-51548 04/15/2005

In the Matter of PAT Services, Inc. 34-51546 04/15/2005

In the Matter of Progressive Software Holding, Inc. 34-51547 04/15/2005

Name of Case Release Number Date Filed


In the Matter of Norsul Oil & Mining, Ltd. 34-51569 04/19/2005

In the Matter of Affinity International Travel Systems, Inc., et al. 34-51618 04/27/2005

In the Matter of ePhone Telecom, Inc., et al. 34-51618 04/27/2005

In the Matter of Upgrade International Corp. 34-51772 06/02/2005

In the Matter of Active Link Communications, Inc. 34-51924 06/24/2005

In the Matter of Busybox.Com, Inc. 34-51918 06/24/2005

In the Matter of MPTV, Inc., et al. 34-51924 06/24/2005

In the Matter of St. George Metals, Inc. 34-51961 07/01/2005

In the Matter of American Machine, Inc., et al. 34-52020 07/13/2005

In the Matter of Spectrum Brands Corp. 34-52023 07/13/2005

In the Matter of Netcurrents Information Services, Inc. 34-52040 07/15/2005

In the Matter of UCAP, Inc. 34-52129 07/27/2005

In the Matter of Divedepot.Com, Inc., et al. 34-52214 08/05/2005

In the Matter of Nexpub, Inc. 34-52306 08/19/2005

In the Matter of Advanced Media, Inc., et al. 34-52384 09/07/2005

In the Matter of Enamelon, Inc., et al. 34-52384 09/07/2005

In the Matter of Transmedia Asia Pacific, Inc. 34-52384 09/07/2005

In the Matter of Bio One Corporation 33-8616 09/22/2005

In the Matter of International Biofuel and Biochemical Corporation 34-52525 09/29/2005

In the Matter of AirCharter Express, Inc. 34-52536 09/30/2005

In the Matter of Danbury Financial, Inc. 34-52536 09/30/2005

In the Matter of E Trade Systems, Inc. 34-52536 09/30/2005

In the Matter of Nextcard, Inc. 34-52535 09/30/2005

Insider Trading

In the Matter of Joseph T. Falcone 34-50516 10/12/2004

In the Matter of Larry F. Smath 34-50515 10/12/2004

SEC v. Kevin J. Hobbs, et al. LR-18977 11/16/2004

SEC v. Russell T. Bradlee, et al. LR-18974 11/17/2004

SEC v. Peter J. Wilson LR-18979 11/18/2004

SEC v. Michael J. Ricks, et al. LR-18983 11/22/2004

SEC v. Evan S. Collins LR-18986 11/30/2004

SEC v. Min T. Ma, et al. LR-18998 12/14/2004

In the Matter of Dimitrios Kostopoulos 34-50933 12/27/2004

SEC v. Patricia B. Rocklage, et al. LR-19032 01/12/2005

SEC v. Mark A. Bailin AAER-2167 01/13/2005

SEC v. Charles E. Jannetti, et al. LR-19037 01/13/2005

SEC v. Patrick S. Anderson, et al. LR-19038 01/19/2005

SEC v. Jun Singo Liang LR-19049 01/25/2005

SEC v. Frank R.V. Loomans, et al. LR-19075 02/10/2005

Name of Case Release Number Date Filed


SEC v. Patsy J. Aldredge, et al. LR-19073 02/10/2005

SEC v. Richard Curtiss LR-19082 02/16/2005

SEC v. John D. Hutchinson LR-19106 02/28/2005

SEC v. Robert Goehring LR-19105 03/02/2005

SEC v. Armund Ek LR-19104 03/03/2005

SEC v. Zvi Fuks, et al. LR-19128 03/09/2005

SEC v. Anthony C. Sudol III, et al. LR-19162 03/31/2005

SEC v. Alina Welt, et al. LR-19190 04/19/2005

SEC v. Nabil Hanna LR-19194 04/20/2005

SEC v. Guillaume Pollet LR-19199 04/21/2005

SEC v. John E. Martin LR-19205 04/26/2005

SEC v. Ernesto Sibal, et al. LR-19210 04/28/2005

In the Matter of Andrew M. Welt IA-2382 05/11/2005

SEC v. Steven E. Nothern LR-19223 05/12/2005

SEC v. Hilary L. Shane LR-19227 05/18/2005

In the Matter of James J. McDermott, Jr. 34-51794 06/07/2005

SEC v. Gary D. Force LR-19252 06/08/2005

SEC v. Zomax, Inc. LR-19262 06/09/2005

In the Matter of Hilary L. Shane 34-51839 06/14/2005

SEC v. Barry Hertz LR-19268 06/14/2005

SEC v. Jeffrey L. Matthews, et al. LR-19304 07/18/2005

SEC v. Philip Evans, et al. LR-19312 07/26/2005

SEC v. Sonja Anticevic, et al. LR-19374 08/05/2005

In the Matter of Benjamin Y. Chiu 34-52222 08/08/2005

In the Matter of Ernesto V. Sibal, et al. 34-52223 08/08/2005

SEC v. David J. Shlansky LR-19332 08/10/2005

SEC v. Raymond L. Burke LR-19355 09/01/2005

SEC v. David L. Johnson LR-19363 09/07/2005

SEC v. Jameson L. Thottam LR-19364 09/07/2005

SEC v. James J. Farley, et al. LR-19379 09/15/2005

SEC v. Rodney R. Drinen, et al. LR-19378 09/15/2005

SEC v. Stanford Cohen LR-19383 09/19/2005

SEC v. Jerry C. Moyes LR-19389 09/21/2005

SEC v. Brian G. Paquette, et al. LR-19393 09/26/2005

SEC v. Michael K. C. Tom, et al. LR-19404 09/30/2005

Investment Adviser

In the Matter of RS Investment Management, Inc., et al. IA-2310 10/06/2004

SEC v. Market-Timing Technologies, LLC, et al. LR-18927 10/06/2004

In the Matter of Invesco Funds Group, et al. 34-50506 10/08/2004

In the Matter of Raymond R. Cunningham 34-50507 10/08/2004

Name of Case Release Number Date Filed
10

In the Matter of Barry J. Goodman IA-2313 10/13/2004

SEC v. Von Christopher Cummings, et al. LR-50544 10/14/2004

In the Matter of Larry Wayne Cherry 34-50568 10/20/2004

SEC v. Michael G. Beckford LR-18940 10/22/2004

In the Matter of Fanam Capital Management, et al. IA-2316 10/29/2004

In the Matter of Fremont Investment Advisors, Inc. IA-2317 11/04/2004

In the Matter of John D. Barry, et al. IA-2320 11/04/2004

In the Matter of Larry Adams IA-2319 11/04/2004

In the Matter of Nancy C. Tengler IA-2318 11/04/2004

In the Matter of Neal R. Wadhwa 34-50644 11/05/2004

In the Matter of William H. Black 34-50650 11/09/2004

SEC v. Bradford C. Bleidt, et al. LR-18972 11/12/2004

In the Matter of Gary L. Pilgrim 33-8505 11/17/2004

In the Matter of Harold J. Baxter 33-8506 11/17/2004

In the Matter of Schield Management Co., et al. 34-50772 12/01/2004

In the Matter of Koji Goto 34-50825 12/09/2004

In the Matter of Franklin Advisers, Inc., et al. 34-50841 12/13/2004

In the Matter of Lawrence S. Powell, et al. 34-51017 01/11/2005

SEC v. Susana P. Longo LR-19041 01/20/2005

In the Matter of Scott F. McCreadie 34-51131 02/03/2005

In the Matter of Michael G. Beckford IA-2347 02/04/2005

In the Matter of Keith Mohn 34-51141 02/07/2005

In the Matter of Banc of America Capital Management, LLC, et al. 33-8538 02/09/2005

In the Matter of Columbia Management Advisors, Inc., et al. 33-8534 02/09/2005

In the Matter of Erik Gustafson IA-2354 02/09/2005

In the Matter of Joseph Palombo IA-2352 02/09/2005

In the Matter of Peter Martin IA-2353 02/09/2005

SEC v. James Tambone, et al. LR-19069 02/09/2005

In the Matter of Scott B. Kaye IA-2359 02/10/2005

SEC v. Northshore Asset Management, et al. LR-19084 02/16/2005

In the Matter of Roger A. Householder 34-51241 02/23/2005

In the Matter of Colley Asset Management, Inc. et al. IA-2363 02/25/2005

In the Matter of K.L. Group, LLC, et al. LR-19399 03/02/2005

SEC v. Peter N. Brant LR-19113 03/03/2005

SEC v. Richard W. Deboe LR-19113 03/03/2005

In the Matter of Bryan James Hawes 34-51377 03/15/2005

SEC v. Violet Gail Eldridge LR-19146 03/17/2005

In the Matter of Peter N. Brant IA-2371 03/23/2005

In the Matter of Putnam Investment Management, LLC IA-2370 03/23/2005

Name of Case Release Number Date Filed
11

SEC v. David M. Faubert, et al. LR-19166 03/23/2005

In the Matter of Victor G. Nance IA-2372 03/25/2005

SEC v. Pension Fund of America L.C., et al. LR-19161 03/28/2005

In the Matter of Michael T. Jackson, et al. IA-2374 04/06/2005

In the Matter of William T. Belko 33-8564 04/06/2005

SEC v. Jeff Thomas Allen, et al. LR-19170 04/06/2005

SEC v. Amit Mathur, et al. LR-19181 04/12/2005

SEC v. K.W. Brown & Company, et al. LR-19209 04/27/2005

In the Matter of Gerald T. Malone IA-2378 04/28/2005

In the Matter of John D. Carifa IA-2379 04/28/2005

In the Matter of Michael J. Laughlin 34-51624 04/28/2005

SEC v. Vincent Montagna, et al. LR-19211 05/02/2005

In the Matter of DB Investment Managers, Inc. 34-51707 05/19/2005

In the Matter of Galleon Management, L.P. 34-51708 05/19/2005

In the Matter of Oaktree Capital Management, LLC 34-51709 05/19/2005

SEC v. Galleon Management, L.P. LR-19228 05/19/2005

In the Matter of Smith Barney Fund Management LLC, et al. 34-51761 05/31/2005

SEC v. Amerindo Investment Advisors Inc., et al. LR-19245 06/01/2005

SEC v. HKW Trading, LLC., et al. LR-19265 06/09/2005

In the Matter of Jeff Thomas Allen IA-2394 06/13/2005

In the Matter of Burton G. Friedlander, et al. IA-2397 06/16/2005

In the Matter of Lawrence A. Clasby, 34-51866 06/17/2005

In the Matter of Dennis R. Mathews, Jr. 34-51894 06/21/2005

SEC v. Jon E. Hankins, et al. LR-19283 06/22/2005

SEC v. Terry’s Tips LR-19291 06/30/2005

In the Matter of Philip A. Lehman 34-51971 07/05/2005

In the Matter of Corcom Companies, Inc., et al. 33-8584 07/06/2005

In the Matter of Gerald Klein & Associates, Inc., et al. 33-8585 07/08/2005

In the Matter of Todd M. Eberhard 34-52003 07/08/2005

In the Matter of John Madey 34-52015 07/12/2005

In the Matter of Edgar M. Larsen IA-2406 07/18/2005

In the Matter of Nathan A. Chapman, Jr. 34-52184 08/01/2005

In the Matter of J. Robert Dobbins IA-2414 08/03/2005

SEC v. Thomas W. Jones, et al. LR-19330 08/08/2005

In the Matter of Dean Earl Kirkland IA-2416 08/12/2005

SEC v. Barry A. Bingham, et al. LR-19345 08/23/2005

In the Matter of T. Gene Gilman 34-52354 08/29/2005

In the Matter of Won Sok Lee, et al. 34-52368 08/31/2005

Name of Case Release Number Date Filed
12

In the Matter of Susana P. Longo IA-2423 09/01/2005

In the Matter of U.S. Bank National Association IC-27052 09/02/2005

In the Matter of Marvin I. Friedman IA-2428 09/14/2005

In the Matter of Oppenheimerfunds, Inc., et al. 34-52420 09/14/2005

In the Matter of CMS Fund Advisers, Inc. IA-2430 09/15/2005

In the Matter of Joseph W. Lutes IA-2429 09/15/2005

In the Matter of Anthony P. Postiglione, Jr. IA-2432 09/21/2005

In the Matter of Springer Investment Management, Inc., et al. IA-2434 09/21/2005

In the Matter of William J. Lennon IA-2433 09/21/2005

In the Matter of State Street Research & Management Company IA-2435 09/23/2005

In the Matter of Joseph W. Daniel LR-19427 09/28/2005

SEC v. Samuel Israel, III, et al. LR-19406 09/29/2005

In the Matter of Applied Financial Group, Inc., et al. IA-2436 09/30/2005

In the Matter of International Equity Advisors, LLC et al. 33-8621 09/30/2005

Investment Company

SEC v. Peter Krieger, et al. LR-19187 04/12/2005

SEC v. Joseph A. Ferona, Jr., et al. LR-19167 05/31/2005

Issuer Reporting and Disclosure

In the Matter of Robert C. Guccione 34-51073 01/24/2005

SEC v. Penthouse International, Inc., n/k/a PHSL Worldwide, Inc., et al. LR-19048 01/24/2005

SEC v. Safescript Pharmacies Inc., f/k/a RTIN Holdings Inc. et al. LR-18921 10/05/2004

SEC v. Stephen P. Gardner, et al. LR-18919 10/05/2004

SEC v. Soulfood Concepts, Inc., et al. LR-18928 10/12/2004

In the Matter of A. Michiel Meurs, et al. AAER-2124 10/13/2004

In the Matter of Johannes Gerhardus Andreae AAER-2124 10/13/2004

In the Matter of Koninklijke Ahold N.V. (Royal Ahold) AAER-2124 10/13/2004

In the Matter of Ture Roland Fahlin AAER-2124 10/13/2004

SEC v. John Mervyn Nabors, et al. LR-18935 10/18/2004

In the Matter of KPMG LLP, et al. 34-50564 10/20/2004

SEC v. Qwest Communications International, Inc. LR-18936 10/21/2004

In the Matter of Hawaiian Airlines, Inc. 34-50584 10/22/2004

In the Matter of John Joslyn, et al. LR-18943 10/26/2004

In the Matter of Norman C. Payson 34-50589 10/26/2004

SEC v. Arnold Geller, et al. LR-18943 10/26/2004

SEC v. John Joslyn, et al. 34-50588 10/26/2004

In the Matter of David Kaplan, CPA 34-50597 10/27/2004

In the Matter of David Rivard, CPA 34-50598 10/27/2004

SEC v. Neurotech Development Corp., et al. LR-18952 10/29/2004

In the Matter of Morgan Stanley 34-50623 11/04/2004

Name of Case Release Number Date Filed
13

SEC v. Wachovia Corporation LR-18958 11/04/2004

In the Matter of Steven Woghin, Esq. 34-50653 11/10/2004

In the Matter of Fischer Imaging Corporation 33-8503 11/15/2004

In the Matter of Wesley H. Colwell, CPA 34-50664 11/15/2004

SEC v. Conrad M. Black, et al. LR-18969 11/15/2004

SEC v. John Allen Snoble LR-18975 11/17/2004

SEC v. William M. Baker, et al. LR-18980 11/18/2004

In the Matter of eFunds Corporation 34-50706 11/19/2004

In the Matter of Gary Moe, et al. 34-50705 11/19/2004

In the Matter of Jerry K. Lester 34-50707 11/19/2004

In the Matter of Robotic Vision Systems, Inc. 34-50704 11/19/2004

SEC v. Paul H. Bristow, et al. LR-18981 11/19/2004

In the Matter of Charles A. Dairaghi, CPA 34-50744 11/29/2004

In the Matter of Kenneth L. Rubin, CPA, et al. 34-50745 11/29/2004

SEC v. American International Group, Inc. LR-18985 11/30/2004

In the Matter of Thomas L. Taylor 34-50783 12/02/2004

SEC v. John Paul Orr, et al. LR-18989 12/02/2004

In the Matter of Daniel E. Charboneau 34-50798 12/06/2004

SEC v. R. Geoffrey Layne, et al. LR-18999 12/15/2004

In the Matter of Bio One Corp. 33-8515 12/16/2004

In the Matter of Martin Julien Marks IA-2154 12/16/2004

In the Matter of Pennichuck Corporation 34-50869 12/16/2004

SEC v. Jack D.Weiss LR-19002 12/16/2004

SEC v. Maurice L. Arel LR-19001 12/16/2004

In the Matter of The Walt Disney Company 34-50882 12/20/2004

In the Matter of Frank D. Edwards, CA 34-50931 12/27/2004

In the Matter of Laurence D. Cohen (CPA) 34-50932 12/27/2004

In the Matter of Robert J. Cassandro 34-50938 12/28/2004

In the Matter of T.V. Azteca, S.A. de C.V., et al. LR-19022 01/04/2005

In the Matter of BroadVision, Inc. 34-50987 01/06/2005

In the Matter of Monsanto Company 34-50978 01/06/2005

SEC v. Monsanto Company LR-19023 01/06/2005

SEC v. Nancy R. Gazzigli LR-19025 01/06/2005

In the Matter of Ronald J. Hottovy, CPA 34-50995 01/07/2005

SEC v. Charles Johnson, Jr., et al. LR-19029 01/10/2005

SEC v. Bruce Robinson AAER-2167 01/13/2005

SEC v. Gordon Redgate AAER-2167 01/13/2005

SEC v. John Nettle AAER-2167 01/13/2005

SEC v. Kenneth H. Bowman AAER-2167 01/13/2005

Name of Case Release Number Date Filed
14

SEC v. Mark A. Bailin AAER-2167 01/13/2005

SEC v. Michael J. Hannigan AAER-2167 01/13/2005

SEC v. Michael Rogers AAER-2167 01/13/2005

SEC v. Peter O. Marion AAER-2167 01/13/2005

SEC v. Timothy Neal Daly AAER-2167 01/13/2005

In the Matter of Martin Julien Marks, CPA 34-51057 01/19/2005

In the Matter of Daisytek International Corporation 33-8525 01/24/2005

In the Matter of Jonathan B. Orlick, Esq. 34-51081 01/26/2005

In the Matter of Michael C. Mullen, CPA 34-51084 01/27/2005

SEC v. Danny Forest Whitt, et al. LR-19065 02/04/2005

In the Matter of Raymond M. Bowen, Jr. AAER-2179 02/07/2005

SEC v. Elan Corporation, PLC LR-19066 02/08/2005

SEC v. Timothy A. Despain LR-19067 02/08/2005

In the Matter of Gary F. Pado, CPA IA-2184 02/11/2005

In the Matter of FFP Marketing Company, Inc., et al. 34-51198 02/14/2005

In the Matter of GE InVision, Inc. 34-51199 02/14/2005

SEC v. Craig Scott LR-19077 02/14/2005

SEC v. GE InVision, Inc. LR-19078 02/14/2005

SEC v. Humatech, Inc., et al. LR-19108 02/28/2005

In the Matter of The Titan Corporation 34-51283 03/01/2005

SEC v. The Titan Corporation LR-19107 03/01/2005

SEC v. Jack Gaglio LR-19111 03/02/2005

SEC v. Sandra Miller Christie LR-191100 03/02/2005

In the Matter of Eddie Richard Meche 33-8551 03/03/2005

In the Matter of Thomas C. Trauger, CPA 34-51307 03/03/2005

SEC v. Craig N. Cohen LR-19121 03/03/2005

SEC v. Eddie Richard Meche LR-19119 03/03/2005

SEC v. Talx Corporation LR-19120 03/03/2005

SEC v. William W. Canfield LR-19122 03/03/2005

In the Matter of Talx Corporation 34-51320 03/04/2005

In the Matter of William W. Canfield 34-51321 03/04/2005

In the Matter of Bryan K. Treadway, CPA 34-51375 03/15/2005

In the Matter of Jennifer J. Tanner, f/k/a Jennifer J. Black 34-51374 03/15/2005

In the Matter of Mark A. Schumacher 34-51373 03/15/2005

SEC v. Bryan K. Treadway LR-19135 03/15/2005

SEC v. Joseph P. Nacchio, et al. LR-19136 03/15/2005

SEC v. Mark A. Schumacher LR-19134 03/15/2005

SEC v. Roger B. Hoaglund LR-19136 03/15/2005

Name of Case Release Number Date Filed
15

SEC v. William L. Eveleth LR-19136 03/15/2005

In the Matter of James W. Barge, et al. 34-51400 03/21/2005

SEC v. Time Warner, Inc. LR-19147 03/21/2005

In the Matter of Flowserve Corporation, et al. 34-51427 03/24/2005

SEC v. Flowserve Corporation, et al. LR-19154 03/24/2005

SEC v. Kenneth W. Hawk, et al. LR-19156 03/24/2005

In the Matter of Mark M. Iwan 34-51442 03/29/2005

SEC v. Anuradha D. Saad, et al. LR-19159 03/29/2005

In the Matter of Vertical Computer Systems, Inc. 34-51470 04/01/2005

In the Matter of John D. Clutten 34-51488 04/06/2005

SEC v. Drew S. Levin, et al. LR-19172 04/06/2005

In the Matter of Easylink Services Corporation, et al. 34-51506 04/07/2005

In the Matter of Stephen C. Jones, CPA 34-51501 04/07/2005

SEC v. Dollar General Corporation, et al. LR-19174 04/07/2005

In the Matter of Global Crossing Ltd., et al. 34-51517 04/11/2005

In the Matter of Gregory Davis, CPA, et al. 34-51516 04/11/2005

SEC v. Thomas J. Casey, et al. LR-19179 04/11/2005

In the Matter of The Coca-Cola Company 34-51565 04/18/2005

In the Matter of KPMG LLP 34-51574 04/19/2005

SEC v. Exotics.Com, Inc., et al. LR-19207 04/25/2005

In the Matter of Deloitte & Touche LLP 34-51606 04/26/2005

In the Matter of Deloitte & Touche, LLP, et al. 34-51607 04/26/2005

SEC v. Deloitte & Touche LLP LR-19202 04/26/2005

In the Matter of Dawn Diaz, CPA 34-51629 04/28/2005

In the Matter of Tyson Foods, Inc., et al. 34-51625 04/28/2005

SEC v. Stuart H. Wolff, et al. LR-19218 04/28/2005

SEC v. Tyson Foods, Inc., et al. LR-19208 04/28/2005

SEC v. Chesapeake Corporation, et al. LR-19215 05/03/2005

In the Matter of Mark Wiertzema 34-51678 05/10/2005

In the Matter of Kevin Rogers 34-51719 05/19/2005

SEC v. Dennis O’Connor LR-19230 05/19/2005

In the Matter of Diagnostic Products Corporation 34-51724 05/20/2005

In the Matter of Huntington Bancshares, Inc., et al. 33-8579 06/02/2005

SEC v. Huntington Bancshares, Inc., et al. LR-19243 06/02/2005

SEC v. John Houldsworth, et al. LR-19248 06/06/2005

In the Matter of Louis E. Rivelli, et al. LR-19255 06/07/2005

In the Matter of Robert M. Blau 33-8581 06/09/2005

Name of Case Release Number Date Filed
16

SEC v. Take Two Interactive Software, Inc., et al. LR-19260 06/09/2005

In the Matter of Joe D. Thomas 34-51883 06/20/2005

In the Matter of James H. David, Jr. CPA 34-51895 06/21/2005

In the Matter of David S. Klarman, Esq. IA-2267 06/27/2005

In the Matter of KPMG LLP, et al. 34-51946 06/30/2005

SEC v. David M. Hurley LR-19290 06/30/2005

In the Matter of Duke Energy Corporation 34-51995 07/08/2005

In the Matter of Foamex International, Inc. 34-52006 07/11/2005

SEC v. Mark Cocchiola, et al. LR-19300 07/11/2005

SEC v. Bernard J. Ebbers LR-19301 07/13/2005

In the Matter of Comerica, Inc. 34-52041 07/15/2005

SEC v. Glenn E. Glasshagel LR-19309 07/15/2005

SEC v. Gregory A. Brady, et al. LR-19306 07/15/2005

In the Matter of Michael J. Cheshire 34-52126 07/26/2005

SEC v. Bernard J. Demko LR-19310 07/26/2005

SEC v. Gary K. Bennett LR-19310 07/26/2005

In the Matter of Microtune, Inc., et al. 33-8596 07/28/2005

In the Matter of Robert Korkuc, CPA 34-52185 08/01/2005

In the Matter of Jeffrey W. Davis LR-19427 08/02/2005

In the Matter of John V. Back, Jr., CPA 34-52258 08/15/2005

In the Matter of Margaret M. Eardley 34-52257 08/15/2005

SEC v. John R. Behrmann, et al. LR-19336 08/15/2005

SEC v. Frederick S. Schiff, et al. LR-19343 08/22/2005

SEC v. Charles C. Conaway, et al. LR-19344 08/23/2005

SEC v. Leonard M. Snyder, et al. LR-19349 08/25/2005

SEC v. David P. Levine, et al. LR-19353 08/29/2005

In the Matter of Barry S. Berlin 34-52358 08/30/2005

In the Matter of David P. Levine 34-52357 08/30/2005

In the Matter of Douglas J. Ely 34-52359 08/30/2005

In the Matter of Michael W. Spake 34-52356 08/30/2005

In the Matter of John R. Behrmann, CPA 34-52369 08/31/2005

In the Matter of Premier Financial Bancorp. 34-52370 08/31/2005

In the Matter of William D. Wiseman, CPA 34-52365 08/31/2005

SEC v. Yaw Osei Amoako LR-19356 09/01/2005

In the Matter of Steven J. Allan 34-52395 09/08/2005

SEC v. William J. Covington LR-19370 09/09/2005

In the Matter of NCO Group, Inc. 34-52409 09/13/2005

In the Matter of Vincent Steckler 34-52411 09/13/2005

Name of Case Release Number Date Filed
17

SEC v. Martin E. Kenney, Jr. LR-19373 09/13/2005

In the Matter of Herbert A. Getz, Esq. 34-52452 09/15/2005

SEC v. Mark David Shapiro, et al. LR-19380 09/15/2005

In the Matter of David J. Cammarata 34-52481 09/21/2005

SEC v. Armand Dauplaise, et al. LR-19387 09/22/2005

SEC v. Keith G. Baxter, et al. LR-19391 09/23/2005

SEC v. C. Paul Sandifur, Jr., et al. LR-19394 09/26/2005

SEC v. LeeRoy Allen, Jr. LR-19405 09/29/2005

SEC v. Michael J. Lawler LR-19401 09/29/2005

In the Matter of Gregory M. Dearlove, CPA 34-52537 09/30/2005

In the Matter of Ronald Lee Hoyt, CPA 34-52539 09/30/2005

In the Matter of William E. Caswell, CPA 34-52538 09/30/2005

Market Manipulation

In the Matter of Michael W. Smith 34-50566 10/20/2004

SEC v. Platforms Wireless International Corp., et al. LR-18939 10/21/2004

SEC v. Treyton L. Thomas, et al. LR-18957 11/01/2004

SEC v. OSF, Inc., et al. LR-18964 11/09/2004

SEC v. Paul L. Simmons, et al. LR-18968 11/15/2004

SEC v. David J. Leslie LR-19000 12/15/2004

In the Matter of Ulysses “Thomas” Ware 34-50873 12/16/2004

SEC v. Martin Fox LR-19014 12/23/2004

SEC v. Cary K. Kahn LR-19139 12/30/2004

SEC v. Thom Calandra LR-19028 01/10/2005

SEC v. Thomas E. Edgar LR-19033 01/12/2005

In the Matter of John M. Dutton 33-8524 01/19/2005

SEC v. Queench, Inc., et al. LR-19040 01/20/2005

SEC v. Courtney D. Smith LR-19064 02/07/2005

In the Matter of James T. Patten 34-51161 02/08/2005

SEC v. Concorde America, Inc., et al. LR-19085 02/14/2005

In the Matter of L. Van Stillman 34-51218 02/17/2005

SEC v. Custom Designed Compressor Systems, Inc., et al. LR-19101 02/25/2005

SEC v. Ronald J. Bauer LR-19153 03/02/2005

In the Matter of David Hutter, a/k/a David Green 34-51311 03/03/2005

In the Matter of Saverio (Sammy) Galasso, III 34-51314 03/03/2005

In the Matter of Charles Cini, et al. 34-51376 03/15/2005

In the Matter of Yolanda Velazquez 34-51396 03/18/2005

SEC v. Harvey L. Carmichael, et al. LR-19148 03/18/2005

SEC v. Tamarak, Inc., et al. LR-19164 03/31/2005

SEC v. SeaLife Corporation, et al. LR-19171 04/05/2005

Name of Case Release Number Date Filed
18

In the Matter of Bio-Heal Laboratories, Inc. LR-19203 04/25/2005

SEC v. David E. Whittemore, et al. LR-19213 05/03/2005

SEC v. Michael O’Grady, et al. LR-19213 05/03/2005

SEC v. Aimsi Technologies, Inc., et al. LR-19238 05/16/2005

SEC v. George A. Todt, et al. LR-19234 05/18/2005

SEC v. Mark W. Blodgett, et al. LR-19236 05/24/2005

In the Matter of David Rich, et al. 34-51774 06/02/2005

In the Matter of Thomas Steinbach, et al. 34-51773 06/02/2005

SEC v. Richard G. Spradling LR-19263 06/09/2005

In the Matter of Warren Soloski 34-51930 06/28/2005

SEC v. Joshua Yafa, et al. LR-19305 07/18/2005

SEC v. U.S. Wind Farming, Inc., et al. LR-19311 07/25/2005

In the Matter of Charlie Dilluvio 34-52153 07/28/2005

In the Matter of Michael J. Burns 34-52152 07/28/2005

SEC v. Christine Favara LR-19318 07/28/2005

SEC v. Richard B. Selden LR-19357 09/01/2005

SEC v. Megamania Interactive, Inc., et al. LR-19369 09/07/2005

In the Matter of Apollo Publication Corporation 33-8610 09/12/2005

SEC v. Biopure Corp., et al. LR-19376 09/14/2005

In the Matter of John B. Zankowski 34-52487 09/21/2005

Miscellaneous

In the Matter of Utah Educational Savings Plan Trust 33-8601 08/04/2005

SEC v. Dale C. Hatch LR-19324 08/04/2005

Municipal Offering

In the Matter of James E. Iverson 34-51509 04/08/2005

In the Matter of Victor P. Dhooge 34-51508 04/08/2005

In the Matter of Mount Sinai Medical Center of Florida, Inc., et al. 33-8580 06/07/2005

SEC v. Bruce M. Perry, et al. LR-19256 06/08/2005

Securities Offering

SEC v. Learn Waterhouse, Inc., et al. LR-18932 10/12/2004

In the Matter of Michael Rosoff 34-50556 10/18/2004

In the Matter of Adam Michael Oliver 34-50565 10/20/2004

SEC v. America’s Hedge Fund, L.P., et al. LR-18951 10/28/2004

SEC v. Barrington Schneer LR-18955 10/29/2004

SEC v. Ohana International, Inc., et al. LR-18961 11/03/2004

SEC v. Crescent Financial Group Inc., et al. LR-18967 11/15/2004

SEC v. Emvest Mortgage Fund, LLC, et al. LR-18978 11/16/2004

In the Matter of Frederick J. Gilliland 34-50720 11/23/2004

In the Matter of Ari Dinov, et al. 34-50782 12/02/2004

Name of Case Release Number Date Filed
19

SEC v. Jack A. Brown, et al. LR-19005 12/08/2004

SEC v. Paul V. Degenhart, et al. LR-19008 12/14/2004

In the Matter of Scott Hamilton 34-50884 12/20/2004

SEC v. Brad A. Weaver, et al. LR-19015 12/23/2004

In the Matter of Mark D. Montana 34-50963 01/05/2005

In the Matter of Richard M. Wooten, CPA 34-50966 01/05/2005

In the Matter of Thomas T. Prousalis, Jr. 34-50986 01/06/2005

In the Matter of Google, Inc., et al. 33-8523 01/13/2005

SEC v. Herman’s World of Sports, Inc., et al. LR-19052 01/26/2005

SEC v. Morgan Cooper, et al. LR-19057 01/31/2005

In the Matter of William Whelan 34-51132 02/03/2005

In the Matter of Harold Miller 34-51151 02/08/2005

In the Matter of TEK Corporation LR-19083 02/09/2005

SEC v. Hubert A. Jeffreys, et al. LR-19098 02/24/2005

SEC v. Kevin James Quinn LR-19103 02/25/2005

SEC v. Premium Income Corp., et al. LR-19115 03/02/2005

SEC v. ATM Alliance Corp., et al. LR-19145 03/17/2005

SEC v. Bodyscan Corporation, et al. LR-19141 03/17/2005

In the Matter of Joseph Catapano, et al. 34-51409 03/22/2005

In the Matter of Richard H. Dorfman 33-8562 03/31/2005

In the Matter of Denis Timothy O’Brien 34-51473 04/04/2005

In the Matter of Jess L. Mercer 34-51475 04/05/2005

SEC v. Larry Michael Parrish, et al. LR-19185 04/14/2005

SEC v. Tri Energy, Inc., et al. LR-19214 05/02/2005

SEC v. David Tanner, d/b/a Capital Enhancement Club, et al. LR-19219 05/04/2005

SEC v. Scott B. Hollenbeck, et al. LR-19226 05/13/2005

SEC v. Gary L. Harden, Sr., et al. LR-19231 05/19/2005

SEC v. Focus Financial Associates, Inc., et al. LR-19258 06/08/2005

In the Matter of Ford Motor Credit Company 33-8582 06/14/2005

SEC v. Viktor Novosselov, et al. LR-19266 06/14/2005

In the Matter of Simon A. Hershon 33-8583 06/20/2005

In the Matter of Daniel W. Heath 34-51922 06/24/2005

SEC v. Patrick A. Grotto, et al. LR-19284 06/24/2005

SEC v. Robert R. Ross, et al. LR-19288 06/28/2005

SEC v. Megafund Corporation, et al. LR-19292 07/01/2005

In the Matter of ING Groep N.V., et al. 33-8594 07/26/2005

SEC v. Alanar, Inc., et al. LR-19314 07/26/2005

SEC v. Jeffrey L. Gibson, et al. LR-19331 08/05/2005

In the Matter of F. Thomas Eck, III 34-52247 08/12/2005

Name of Case Release Number Date Filed
20

In the Matter of F. Thomas Eck, III 34-52246 08/12/2005

SEC v. Rainmaker Managed Living, LLC, et al. LR-19347 08/22/2005

In the Matter of Axess Media Group, Ltd., et al. 33-8606 08/24/2005

SEC v. Par Three Financial, Inc., et al. LR-19348 08/25/2005

In the Matter of Alanar, Inc., et al. 34-52353 08/29/2005

In the Matter of GLM Technologies, LLC, et al. 33-8609 09/12/2005

SEC v. NJ Affordable Homes Corp., et al. LR-19372 09/12/2005

In the Matter of Christiano K. Hashimoto, Jr. 34-52457 09/16/2005

In the Matter of Scott L. Kelly 34-52461 09/16/2005

SEC v. Harvey P. Tabb LR-19392 09/20/2005

SEC v. Gary L. Valinoti LR-19407 09/29/2005

Self-Regulatory Organization

In the Matter of The Nasdaq Stock Market, Inc., et al. 34-51163 02/09/2005

In the Matter of New York Stock Exchange , Inc. 34-51524 04/12/2005

In the Matter of National Stock Exchange, et al. 34-51714 05/19/2005

SEC v. David Colker LR-19229 05/19/2005

Transfer Agent

In the Matter of Michael John Hanchar 34-50675 11/16/2004

SEC v. CIBC Mellon Trust Co. LR-19081 02/16/2005

In the Matter of CIBC Mellon Trust Co. 34-51297 03/02/2005

SEC v. Shannon Baldino LR-19143 03/17/2005

In the Matter of Phlo Corporation, et al. 34-51592 04/21/2005

Name of Case Release Number Date Filed
21

Table 4

INVESTIGATIONS OF POSSIBLE VIOLATIONS OF THE ACTS

 ADMINISTERED BY THE COMMISSION

Pending as of October 1, 2004 ................................................................................... 3,770 

Opened in Fiscal Year 2005............................................................................... 947

Total.............................................................................................................................. 4,717

Closed in Fiscal Year 2005 ................................................................................ 625

Pending as of September 30, 2005 ............................................................................. 4,092

Formal Orders of Investigation

Issued in Fiscal Year 2005 ................................................................................. 272

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 4 subpoenas based upon Section 21(h)(2)(C)(ii). 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) 34

Section 1105 (Administrative Subpoenas) 164

Section 1107 (Judicial Subpoenas) 22

Section 1109 (Delayed Customer Notice) 0

*****
22

SEC Total Investor Contacts by Fiscal Year

70,187

82,337

70,574 73,481

76,221

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

2001 2002 2003 2004 2005

Other Contacts Complaints & Questions Totals

Table 5

SEC Total Investor Contacts by Fiscal Year
23

Complaint Type

FY 

2005 

Totals

FY 

2004 

Totals Change

Rank in 

2004

1 Advance Fee Fraud* 2,219 1,263 Up 75.30% 2

2 Spam: Unwanted Emails or Faxes 1,146 623 Up 83.79% 10

3 Transfer of Account Problems 844 789 Up 6.59% 4

4 Account Closing: Problems 

with Redemption, 

Liquidation, or Closing 841 710 Up 18.03% 7

5 Manipulation of Securities, 

Prices, or Markets 741 1,738 Down 57.42% 1

6 Bankruptcy or Issuer 

Reorganization 728 715 Up 1.68% 6

7 Theft of Funds or Securities 697 661 Up 5.14% 9

8 Unauthorized Transactions 653 803 Down 18.68% 3

9 Account Records: Errors 

or Omissions 645 577 Up 11.61% n/a

10 Delivery of Funds or Proceeds 629 502 Up 24.90% n/a

Thirty-one percent of all complaints involved broker-dealers. 

*In an “advance fee” scheme, the fraudsters offer to help the investors recover their losses by exchanging 

the worthless stock for an established, blue chip stock or by purchasing the stock outright. But 

investors must first pay an upfront “security deposit” or post an “insurance” or “performance bond.”

Table 6

TEN MOST COMMON COMPLAINTS

Type of Entity

FY 2005 

Totals

Percentage 

of Total

1 Broker-Dealer 6,239 31%

2 Issuers (Public Companies)s 4,027 20%

3 Transfer agents, Paying 

agents, or Registrars 934 5%

4 Mutual funds (and Other 

Investment Companies) 652 3%

5 Newsletters and Investment 

Publications 625 3%
24

Table 7

UNCONSOLIDATED FINANCIAL INFORMATION FOR BROKER-DEALERS 

2000 - 2004 1/ 

($ in Millions) 

 

2000 2001 2002 2003 2004

Revenues

Securities Commissions $ 54,106.7 $ 44,763.8 $ 45,001.1 $ 45,539.2 $ 47,569.0 

Gains (Losses) in Trading and

Investment Accounts 70,777.7 38,950.3 24,240.9 38,808.1 $ 30,669.9 

Profits (Losses) from Underwriting

and Selling Groups 18,717.6 16,941.1 14,698.2 17,163.1 19,099.0 

Margin Interest 24,546.9 13,911.5 6,439.9 5,261.0 6,983.7

Revenues from Sale of Investment

Company Shares 19,394.9 16,396.4 15,654.9 16,200.2 18,549.9

All Other Revenues 161,949.4 149,132.8 115,775.9 95,984.5 120,058.2

Total Revenues $ 349,493.3 $ 280,095.8 $ 221,811.0 $ 218,956.0 $ 242,929.6 

Expenses 

Registered Representatives’

Compensation (Part II Only) 2/ $ 33,191.0 $ 29,950.8 $ 27,388.6 $ 28,578.2 $ 29,973.4

Other Employee Compensation

and Benefits 55,307.3 48,311.6 43,508.7 44,800.5 50,018.6

Compensation to Partners and

Voting Stockholder Officers 6,707.8 5,247.4 3,973.9 4,058.2 3,488.2

Commissions and Clearance Paid

to Other Brokers 15,522.7 14,043.4 15,003.9 16,293.2 17,374.6

Interest Expenses 131,877.2 98,947.2 56,401.6 44,445.9 59,726.0 

Regulatory Fees and Expenses 1,366.7 1,550.9 1,383.0 1,515.0 1,670.2

All Other Expenses 2/ 66,417.3 62,647.7 58,889.2 53,611.5 57,489.7

Total Expenses $ 310,390.0 $ 260,698.9 $ 206,549.0 $ 193,300.6 $ 219,740.7

Income and Profitability 

Pre-tax Income $ 39,103.3 $ 19,396.9 $ 15,262.0 $ 25,655.4 $ 23,188.9

Pre-tax Profit Margin 11.2% 6.9% 6.9% 11.7% 9.5%

Pre-tax Return on Equity 31.1% 13.8% 10.7% 17.6% 15.0%

Assets, Liabilities and Capital 

Total Assets $2,865,721.0 $3,371,298.1 $3,261,465.3 $3,980,376.8 $4,830,925.7

Liabilities

(a) Unsubordinated Liabilities 2,663,758.3 3,158,257.2 3,050,039.2 3,754,978.7 4,584,567.8

(b) Subordinated Liabilities 64,362.3 68,693.6 69,434.0 75,929.5 86,665.6

(c) Total Liabilities 2,728,120.6 3,226,950.8 3,119,473.0 $3,830,908.2 $4,671,233.4

Ownership Equity $ 137,600.4 $ 144,347.2 $ 141,992.5 $ 149,468.6 $ 159,692.3 

Number of Firms 7,258 7,002 6,768 6,565 6,284

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
25

Table 8

UNCONSOLIDATED ANNUAL REVENUES AND EXPENSES FOR BROKER-DEALERS 

DOING A PUBLIC BUSINESS 

2000 - 2004 1/ 

($ in Millions) 

 

2000 2001 2002 2003 2004

Revenues

Securities Commissions $ 53,160.6 $ 43,798.5 $ 44,212.2 $ 44,868.3 $ 46,811.5

Gains (Losses) in Trading and

Investment Accounts 60,720.3 33,566.5 20,090.4 33,747.9 26,045.4

Profits (Losses) from Underwriting

and Selling Groups 18,718.0 16,941.2 14,697.5 17,163.1 19,099.0

Margin Interest 24,274.0 13,749.1 6,383.1 5,252.9 6,924.4

Revenues from Sale of Investment

Company Shares 19,394.9 16,396.4 15,654.9 16,200.1 18,549.9

All Other Revenues 154,836.1 144,758.2 111,994.6 95,559.2 117,602.0

Total Revenues $331,103.9 $269,210.0 $213,032.7 $212,791.5 $235,032.3

 

Expenses 

Registered Representatives’

Compensation (Part II only) 2/ $ 33,162.0 $ 29,948.6 $ 27,380.5 $ 28,567.6 $ 29,959.0

Other Employee Compensation

and Benefits 53,356.7 46,967.1 42,398.2 43,885.8 49,178.7

Compensation to Partners and

Voting Stockholder Officers 5,450.3 4,976.9 3,759.8 3,855.3 3,319.3

Commissions and Clearance Paid

 to Other Brokers 14,719.0 13,422.4 14,414.5 15,803.2 16,909.9

Interest Expenses 127,211.5 96,120.5 55,180.0 43,315.8 57,913.6

Regulatory Fees and Expenses 1,204.6 1,343.7 1,208.5 1,280.5 1,464.3

All Other Expenses 2/ 64,429.5 60,747.1 56,984.7 51,722.7 55,466.3

Total Expenses $299,533.6 $253,526.4 $201,326.3 $188,430.8 $214,211.0

Income and Profitability

Pre-tax Income $ 31,570.3 $ 15,683.6 $ 11,706.4 $ 24,360.7 $ 20,821.3

Pre-tax Profit Margin 9.5% 5.8% 5.5% 11.4% 8.9%

Pre-tax Return on Equity 27.5% 12.3% 9.2% 18.8% 14.9%

Number of Firms 5,568 5,493 5,394 5,301 5,231 

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
26

Table 9

UNCONSOLIDATED BALANCE SHEET FOR BROKER-DEALERS 

DOING A PUBLIC BUSINESS 

YEAR-END, 2000 - 2004 1/ 

($ in Millions) 	 	

2000 2001 2002 2003 2004

Assets

Cash $ 33,472.4 $ 50,722.9 $ 47,710.9 $ 50,219.2 $ 64,996.5

Receivables from Other

Broker-dealers 974,675.6 1,115,382.5 1,032,041.5 1,414,127.2 1,792,465.9

Receivables from Customers 203,704.3 177,944.3 132,739.7 163,107.2 214,374.0

Receivables from Non-customers 31,411.0 15,392.7 14,237.2 18,124.0 44,085.5

Long Positions in Securities

and Commodities 614,927.6 775,941.9 789,608.2 1,004,562.4 1,071,660.1

Securities and Investments

not Readily Marketable 9,845.9 10,486.6 9,729.6 11,516.8 13,489.6

Securities Purchased Under Agreements

to Resell (Part II only) 2/ 724,666.3 855,539.3 951,803.1 966,629.5 1,189,010.4

Exchange Membership 588.6 664.6 684.5 675.2 666.5

Other Assets 2/ 120,788.9 212,798.3 135,646.5 154,872.6 213,735.9

Total Assets $2,714,080.5 $3,214,873.2 $3,114,201.2 $3,783,834.1 $4,604,484.3

Liabilities and Equity Capital 

Bank Loans Payable $ 80,745.4 $ 75,897.2 $ 51,369.7 $ 74,199.5 $ 90,173.4

Payables to Other Broker-dealers 473,215.1 562,210.8 466,809.3 742,116.9 1,033,641.6

Payables to Non-customers 50,748.0 56,710.4 60,817.5 66,146.9 63,782.6

Payables to Customers 359,818.6 391,358.5 349,781.6 407,244.9 510,339.9

Short Positions in Securities

and Commodities 286,545.8 342,189.9 345,113.0 439,384.4 504,689.8

Securities Sold Under Repurchase

Agreements (Part II only) 2/ 1,092,436.3 1,282,754.8 1,405,679.3 1,564,762.4 1,801,674.5

Other Non-subordinated Liabilities 2/ 182,476.9 306,860.4 242,125.0 280,547.5 370,991.2

Subordinated Liabilities 63,436.1 67,304.5 67,966.9 74,285.9 84,628.1

Total Liabilities $2,589,422.2 $3,085,286.3 $2,989,662.2 $3,648,688.4 $4,459,921.2

Equity Capital $ 124,658.3 $ 129,586.9 $ 124,539.0 $ 135,145.7 $ 144,563.1

Number of firms 5,568 5,493 5,394 5,301 5,231

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
27

2003 2004 

 Percent Percent Percent

 of Total of Total Change

 Dollars Revenues Dollars Revenues 2003-2004

Revenues

Securities Commissions $ 30,190.3 18.0% $ 31,752.0 17.0% 5.2% 

Gains (Losses) in Trading and

Investment Accounts 29,299.3 17.5 22,039.1 11.8 -24.8 

Profits (losses) from under-

 writing and selling groups 16,062.4 9.6 17,592.8 9.4 9.5 

Margin interest 5,252.9 3.1 6,924.4 3.7 31.8 

Revenues from sale of invest-

 ment company shares 8,340.7 5.0 9,360.2 5.0 12.2 

Miscellaneous fees 13,370.6 8.0 15,952.5 8.5 19.3 

Revenues from research 172.0 0.1 211.2 0.1 22.8 

Other securities related revenues 54,284.6 32.4 66,816.7 35.7 23.1 

Commodities revenues -1,617.6 -1.0 1,545.4 0.8 -195.5 

All other revenues 12,137.3 7.2 14,790.0 7.9 21.9 

Total revenues $167,492.3 100.0% $186,984.4 100.0% 11.6% 

Expenses

Registered representatives’

compensation $ 28,567.6 17.1% $ 29,959.0 16.0% 4.9% 

Other employee compensation

 and benefits 32,192.1 19.2 36,272.1 19.4 12.7 

Compensation to partners and

voting stockholder officers 1,785.1 1.1 1,063.6 0.6 -40.4 

Commissions and clearance paid

 to other brokers 6,429.9 3.8 6,580.1 3.5 2.3 

Communications 4,376.2 2.6 4,624.3 2.5 5.7 

Occupancy and equipment costs 6,796.2 4.1 6,342.2 3.4 -6.7 

Data Processing Costs 3,056.1 1.8 3,227.0 1.7 5.6 

Interest expenses 42,685.7 25.5 57,499.9 30.8 34.7 

Regulatory fees and expenses 1,041.9 0.6 1,266.0 0.7 17.7 

Losses in error accounts and

bad debts 358.8 0.2 330.9 0.2 -7.8 

All other expenses 19,837.7 11.8 22,742.4 12.2 14.6 

Total expenses $147,127.2 87.8% $169,867.6 90.8% 15.5 %

Income and Profitability

Pre-tax income $ 20,365.0 12.2% $ 17,116.8 9.2% -15.9% 

Pre-tax profit margin 12.2% 9.2% 

Pre-tax return on equity 19.3% 15.1% 

Number of Firms 585 576 

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

 2003 2004 

 Percent Percent Percent

 of Total of Total Change

 Dollars Assets Dollars Assets 2003-2004

Assets 

Cash $ 46,355.9 1.3% $ 60,640.1 1.3% 30.8% 

Receivables from other broker-dealers 1,399,285.0 37.8% 1,773,899.5 39.4 26.8 

(a) Securities failed to deliver 55,291.7 1.5% 87,703.7 1.9 58.6 

(b) Securities borrowed 1,290,205.9 34.8% 1,614,340.0 35.8 25.1 

(c) Other 53,787.4 1.5% 71,855.8 1.6 33.6 

Receivables from customers 163,107.2 4.4% 214,374.0 4.8 31.4 

Receivables from non-customers 17,239.0 0.5% 43,141.2 1.0 150.3 

Long positions in securities and commodities 973,224.4 26.3% 1,030,816.7 22.9 5.9 

(a) Bankers acceptances, certificates

 of deposit and commercial paper 48,951.4 1.3% 45,959.8 1.0 -6.1 

(b) U.S. and Canadian government obligations 534,095.4 14.4% 538,843.5 12.0 0.9 

(c) State and municipal government obligations 24,107.6 0.7% 31,534.7 0.7 30.8 

(d) Corporate obligations 201,076.6 5.4% 219,906.9 4.9 9.4 

(e) Stocks and warrants 98,391.3 2.7% 125,122.3 2.8 27.2 

(f) Options 15,580.6 0.4% 14,903.6 0.3 -4.3 

(g) Arbitrage 33,990.2 0.9% 35,159.7 0.8 3.4 

(h) Other securities 17,030.9 0.5% 19,385.8 0.4 13.8 

(i) Spot commodities 0.3 0.0% 0.4 0.0 33.3 

Securities and investments not readily marketable 10,736.4 0.3% 12,831.2 0.3 19.5 

Securities purchased under agreements

to resell 966,629.5 26.1% 1,189,010.4 26.4 23.0 

Exchange membership 614.4 0.0% 624.3 0.0 1.6 

Other assets 127,052.3 3.4% 178,797.2 4.0 40.7 

Total assets $3,704,243.9 100.0% $4,504,134.6 100.0% 21.6% 

Liabilities and Equity Capital

Bank loans payable $ 73,997.4 2.0% $ 86,991.5 1.9% 17.6% 

Payables to other broker-dealers 731,863.0 19.8% 1,014,395.6 22.5 38.6 

(a) Securities failed to receive 56,383.3 1.5% 104,912.0 2.3 86.1 

(b) Securities loaned 616,626.0 16.6% 850,694.6 18.9 38.0 

(c) Other 58,853.7 1.6% 58,789.0 1.3 -0.1 

Payables to non-customers 65,457.3 1.8% 63,043.9 1.4 -3.7 

Payables to customers 407,244.9 11.0% 510,339.9 11.3 25.3 

Short positions in securities

and commodities 420,190.9 11.3% 487,203.7 10.8 15.9 

Securities sold under repurchase

agreements 1,564,762.4 42.2% 1,801,674.5 40.0 15.1 

Other non-subordinated liabilities 257,713.2 7.0% 342,482.5 7.6 32.9 

Subordinated Liabilities 72,323.8 2.0% 81,711.8 1.8 13.0 

Total liabilities $3,593,552.8 97.0% $4,387,843.4 97.4% 22.1% 

Equity capital $ 110,691.1 3.0% $ 116,291.2 2.6% 5.1% 

Number of firms 585 576 

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.

Table 11

UNCONSOLIDATED BALANCE SHEET FOR CARRYING/CLEARING 

BROKER-DEALERS 1/ 

($ in Millions)
29

Table 12

TRANSACTION ACTIVITY IN EQUITIES, OPTIONS, AND SECURITY FUTURES 

MARKET VALUE OF SALES 

(Millions)

Year Total

Equity

Trading

Option

Trading

Option Exercises 

and Futures

Deliveries

Security 

Futures

Trading1/

1989 $2,472,504 $2,348,189 $40,423 $83,891 

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 $22,736,795 $22,290,859 $164,085 $281,851 2,501,247

2004 $27,808,141 $27,090,516 $222,958 $494,666 2,175,093

2005 $34,561,572 $33,219,676 $350,365 $991,531 5,493,850

Calendar Year 2005

AMEX $724,658 $558,353 $42,112 $124,192 0

BSE $229,016 $160,104 $17,895 $51,017 0

CBOE $313,699 $12,916 $78,065 $222,717 0

CHX $397,217 $397,217 $0 $0 0

CMX $14 $0 $0 $14 8,391

ISE $357,426 $0 $91,698 $265,728 0

NASD $10,430,821 $10,430,821 $0 $0 0

NSX $3,488,667 $3,488,667 $0 $0 0

NYSE $14,381,510 $14,381,510 $0 $0 0

OneChicago $11,590 $0 $0 $11,590 5,485,459

PCX $3,995,174 $3,741,941 $71,269 $181,964 0

PHLX $231,782 $48,147 $49,325 $134,309 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. 

 

1/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. 	 	 	 	
3

0

Table 13

Securities Listed on Exchanges 1/

 December 31, 2004

EXCHANGE COMMON PREFERRED BONDS TOTAL SECURITIES

 Market Value Market Value Value 2/ Value

Registered: Number (in Millions) Number (in Millions) Number (in Millions) Number (in Millions)

American 725 189,161.4 56 1,821.1 20 0.0 801 190,982.5

Boston 40 890.6 0 0.0 0 0.0 40 890.6

Cincinnati 0 0.0 0 0.0 0 0.0 0 0.0

Chicago 3 136.3 0 0.0 0 0.0 3 136.3

New York 2,159 12,821,035.2 358 49,012.3 874 0.0 3,391 12,870,047.5

Pacific 3 987.7 2 44.9 0 0.0 5 1,032.6

Philadelphia 0 0.0 3 10 0 0.0 3 10.0

Total 2,930 13,012,211.2 419 50,888.3 894 0.0 4,243 13,063,099.5

Includes Foreign Stocks:

New York 469 853,061.7 20 5,259.6 185 0.0 674 858,321.3

American 75 80,743.0 0 0.0 0 0.0 75 80,743.0

Boston 5 125.5 0 0.0 0 0.0 5 125.5

Chicago 0 0.0 0 0.0 0 0.0 0 0.0

Pacific 0 0.0 0 0.0 0 0.0 0 0.0

Philadelphia 0 0.0 0 0.0 0 0.0 0 0.0

Total 549 933,930.2 20 5,259.6 185 0.0 754 939,189.8

Figures may not sum due to rounding.

1/ Excludes securities that were suspended from trading at the end of the year and securities that, because of inactivity, had no available quotes.

2/ Principal value for all exchanges, except Pacific (PSE). PSE could provide only market value. The American (AMEX) and New York (NYSE) exchanges no longer can provide market 

values for bonds.

Source: SEC Form 1392
31

Table 14

Value of Stocks Listed on Exchanges

($ in Billions)

New York American Exclusively

As of Stock Stock On Other 

Dec 31 Exchange Exchange Exchanges Total

1938 $ 47.5 $ 10.8 $ ..... $ 58.3

1940 46.5 10.1 ..... $ 56.6

1945 73.8 14.4 ..... 88.2 

1950 93.8 13.9 3.3 111.0 

1955 207.7 27.1 4.0 238.8 

1960 307.0 24.2 4.1 335.3 

1965 537.5 30.9 4.7 573.1 

1970 636.4 39.5 4.8 680.7 

1975 685.1 29.3 4.3 718.7 

1980 1,242.8 103.5 2.9 1,349.2 

1985 1,882.7 63.2 5.9 1,951.8 

1990 2,692.1 69.9 3.9 2,765.9 

1991 3,547.5 90.3 4.3 3,642.1

1992 3,877.9 86.4 5.9 3,970.2 

1993 4,314.9 98.1 7.2 4,420.2

1994 4,240.8 86.5 4.7 4,332.0

1995 5,755.5 113.3 6.8 5,875.6 

1996 6,947.7 106.2 5.7 7,059.6

1997 9,413.1 131.3 3.6 9,548.0

1998 10,384.8 149.7 4.7 10,539.2

1999 11,556.2 82.5 6.7 11,645.4

2000 11,633.0 94.4 4.7 11,732.1

2001 11,126.2 82.9 9.4 11,218.6

2002 9,119.7 57.8 5.2 9,182.7

2003r 11,470.9 107.6 2.6 11,581.1

2004 12,870.0 191.0 2.1 13,063.1

Source: SEC Form 1392