UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 88762 / April 28, 2020

ADMINISTRATIVE PROCEEDING

File No. 3-17315

____________________________________________

 :

In the Matter of : ORDER DIRECTING 

 : DISBURSEMENT OF FAIR 

Ross, Sinclaire & Associates, LLC and ::: FUND

Murray Sinclaire, Jr., : 

 : 

Respondents. :

____________________________________________ :

On May 3, 2018, the Securities and Exchange Commission (“Commission”) published a 

Notice of Proposed Plan of Distribution and Opportunity for Comment (“Notice”)1 pursuant to 

Rule 1103 of the Commission’s Rules on Fair Fund and Disgorgement Plans (“Commission’s 

Rules”)2for the distribution of the Fair Fund in this administrative proceeding. The Notice 

advised interested persons that they could obtain a copy of the Proposed Plan of Distribution 

(“Proposed Plan”) from the Commission’s public website or by submitting a written request to 

Susan S. Pecaro, United States Securities and Exchange Commission, 100 F Street, NE, 

Washington, DC 20549-5876.

The Notice also advised that all persons desiring to comment on the Proposed Plan could 

submit their comments, in writing, no later than thirty (30) days from the date of the Notice: (1) 

to the Office of the Secretary, United States Securities and Exchange Commission, 100 F Street, 

NE, Washington, DC 20549-1090; (2) by using the Commission’s internet comment form 

 

1

 Exchange Act Rel. No. 83162 (May 3, 2018).

2

 17 C.F.R. § 201.1103.
2

(http://www.sec.gov/litigation/admin.shtml); or (3) by sending an e-mail to rulecomments@sec.gov. The Commission received no comments on the Proposed Plan during the 

comment period. On June 14, 2018, the Secretary, pursuant to delegated authority, issued an 

Order Approving Plan of Distribution3and simultaneously posted the approved Plan of 

Distribution (“Plan”).

The Plan provides for the distribution of the Net Fair Fund,4 on a pro rata basis, to 

Eligible Investors who suffered a Recognized Loss in accordance with the methodology of the 

Plan.

In accordance with the Plan, the Fund Administrator has submitted a validated list of 

payees and payment amounts (the “Payment File”) to the Commission staff, along with a 

reasonable assurances letter as to the completeness and accuracy of the information contained 

therein. The Commission staff has reviewed the Payment File and requests, pursuant to Rule 

1101(b)(6) of the Commission’s Rules, 17 C.F.R. § 201.1101(b)(6), that the Commission 

authorize the transfer of $944,992.61 to the Fair Fund’s escrow account at Alerus Financial, N.A.

(“Alerus”) for distribution by the Fund Administrator to Eligible Investors in accordance with 

the Plan. 

 

3

 Exchange Act Rel. No. 83436 (June 14, 2018).

4

 All capitalized terms used herein, but not defined shall have the same meanings ascribed to them in the Plan.
3

Accordingly, it is ORDERED that the Commission staff shall transfer $944,992.61 from 

the Fair Fund to the Fair Fund’s escrow account at Alerus, and the Fund Administrator shall 

distribute such monies to Eligible Investors as provided for in the Plan. 

By the Commission.

Vanessa A. Countryman

Secretary