Document ID: SEC-2016-0470-0001
Agency: sec
Document Type: Notice
Title: Meetings; Sunshine Act
Posted Date: 2016-03-17T04:00Z

[Federal Register Volume 81, Number 52 (Thursday, March 17, 2016)]
[Notices]
[Page 14495]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-06130]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    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 (``Commission'') will hold an Open Meeting on 
Monday, March 21, 2016, at 11:00 a.m., in the Auditorium (L-002) at the 
Commission's headquarters building, to hear oral argument in an appeal 
from an initial decision of an administrative law judge by respondents 
Edgar Page (``Page'') and PageOne Financial, Inc. (``PageOne'').
    On March 10, 2015, after the Commission instituted proceedings, 
Page and PageOne submitted an offer of settlement, accepted by the 
Commission, pursuant to which they consented to entry of an order: 
finding that they violated the Investment Advisers Act of 1940 by 
failing to disclose a conflict of interest; imposing a censure and a 
cease-and-desist order; and ordering additional proceedings to 
determine what, if any, disgorgement, prejudgment interest, civil 
penalties, and other remedial action is in the public interest. In an 
initial decision issued June 25, 2015, the law judge barred Page from 
the securities industry, revoked PageOne's investment adviser 
registration, ordered Page and PageOne to disgorge $2,184,850.30, with 
prejudgment interest, jointly and severally, and declined to impose a 
civil penalty.
    Page and PageOne appealed the sanctions imposed in the initial 
decision. The Commission's Division of Enforcement cross-appealed the 
initial decision's imposition of a time-limited industry bar, as 
opposed to a permanent industry bar with a right to reapply. The oral 
argument is likely to address what penalties, if any, are appropriate 
in the public interest. Also likely to be considered at oral argument 
is whether these administrative proceedings violate the U.S. 
Constitution.
    For further information, please contact the Office of the Secretary 
at (202) 551-5400.

    Dated: March 14, 2016.
Lynn M. Powalski,
Deputy Secretary.
[FR Doc. 2016-06130 Filed 3-15-16; 11:15 am]
 BILLING CODE 8011-01-P