Document ID: SEC-2007-1362-0001
Agency: sec
Document Type: Notice
Title: Meetings; Sunshine Act
Posted Date: 2007-10-02T04:00Z

[Federal Register: October 2, 2007 (Volume 72, Number 190)]
[Notices]               
[Page 56109-56110]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02oc07-84]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Sunshine Act Meetings

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold the following meetings during the 
week of October 1, 2007:
    An Open Meeting will be held on Monday, October 1, 2007 at 10 a.m., 
in the Auditorium, Room L-002 and a Closed Meeting will be held on 
Wednesday, October 3, 2007 at 2 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the Closed Meeting. 
Certain staff members who have an interest in the matters may also be 
present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(5), (7), (9)(B), and (10) and 17 CFR 200.402(a)(5), 
(7), 9(ii) and (10), permit consideration of the scheduled matters at 
the Closed Meeting.
    Commissioner Atkins, as duty officer, voted to consider the items 
listed for the closed meeting in closed session, and determined that no 
earlier notice thereof was possible.
    The subject matter of the Open Meeting, scheduled for Monday, 
October 1, 2007 will be:

    The Commission will hear oral argument in an appeal by Stephen 
J. Horning from the decision of an administrative law judge. Horning 
was the president, registered financial and operations principal, 
compliance officer, and a director of Rocky Mountain Securities & 
Investments, Inc., formerly a registered broker-dealer.
    The law judge found that:
    Horning failed reasonably to supervise two former Rocky Mountain 
employees with a

[[Page 56110]]

view to preventing their violations of Section 10(b) of the 
Securities Exchange Act of 1934 and Exchange Act Rule 10b-5; and
    Horning was a cause of Rocky Mountain's inaccurate books and 
records and its filing of materially false reports in violation of 
Exchange Act Sections 15(c)(3), 17(a), and 17(e) and Exchange Act 
Rules 15c3-1, 15c3-3, 17a-3, 17a-5(a), 17a-5(c), 17a-5(d), 17a-11, 
and 17a-13.

    The law judge barred Horning from association with any broker or 
dealer in a supervisory capacity and suspended him from association 
with any broker or dealer in any capacity for twelve months.
    Among the issues likely to be argued are
    1. Whether Horning failed reasonably to supervise; or
    2. Whether Horning was the cause of the alleged financial, books, 
and recordkeeping violations; and
    3. If so, whether sanctions should be imposed in the public 
interest.
    The subject matter of the Closed Meeting scheduled for Wednesday, 
October 3, 2007 will be:
    Formal order of investigation;
    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings of an 
enforcement nature;
    An adjudicatory matter; and
    Other matters related to enforcement actions.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact:
    The Office of the Secretary at (202) 551-5400.

    Dated: September 26, 2007.
Nancy M. Morris,
Secretary.
 [FR Doc. E7-19384 Filed 10-1-07; 8:45 am]

BILLING CODE 8011-01-P