Document ID: SEC-2019-1318-0001
Agency: sec
Document Type: Notice
Title: Meetings; Sunshine Act
Posted Date: 2019-09-16T04:00Z

[Federal Register Volume 84, Number 179 (Monday, September 16, 2019)]
[Notices]
[Page 48653]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-20038]

[[Page 48653]]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meetings

TIME AND DATE: 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 an Open Meeting on 
Wednesday, September 18, 2019, at 2:00 p.m., to hear oral argument in 
an appeal by Alexandre S. Clug, and a cross-appeal by the Division of 
Enforcement, from an initial decision of an administrative law judge.

PLACE: Auditorium (L-002) at Commission's headquarters, 100 F Street 
NE, Washington, DC 20549.

STATUS: This meeting will be open to the public.

MATTERS TO BE CONSIDERED: On February 8, 2016, the law judge found that 
(i) Clug and Aurum Mining, LLC violated Section 17(a) of the Securities 
Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 
and Rule 10b-5 thereunder by making material misrepresentations and 
omissions to investors; (ii) PanAm Terra, Inc. violated Securities Act 
Section 17(a)(2) by making material misrepresentations and omissions to 
investors; (iii) Clug and The Corsair Group violated Exchange Act 
Section 15(a)(1) by acting as unregistered brokers; and (iv) Clug 
aided, abetted, and caused a violation by Michael W. Crow of Exchange 
Act Section 15(b)(6)(B). The law judge also found that Crow was not a 
de facto executive officer of PanAm, and therefore that PanAm was not 
primarily liable or Clug secondarily liable for violating Securities 
Act Section 17(a), Exchange Act Sections 10(b) and 13(a), and Exchange 
Act Rules 10b-5, 12b-20, 13a-1, and 13a-13, and that Clug did not 
violate Exchange Act Rule 13a-14(a) by failing to disclose Crow's role 
at PanAm in its periodic reports.
    The law judge ordered that Clug cease-and-desist from further 
violations, pay disgorgement plus prejudgment interest, and be barred 
from the securities industry and from participating in penny stock 
offerings. The law judge did not sanction Aurum, PanAm, or Corsair.
    Clug appealed the law judge's findings of fact and conclusions of 
law as to his violations and sanctions. The Division cross-appealed the 
findings related to Crow's role at PanAm and the sanctions for Clug, 
Aurum, PanAm, and Corsair. The issues likely to be considered at oral 
argument include whether Clug, Aurum, PanAm, and Corsair committed the 
above violations and what, if any, sanctions are appropriate.

CONTACT PERSON FOR MORE INFORMATION: For further information and to 
ascertain what, if any, matters have been added, deleted or postponed; 
please contact Vanessa A. Countryman from the Office of the Secretary 
at (202) 551-5400.

    Dated: September 11, 2019.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2019-20038 Filed 9-12-19; 11:15 am]
 BILLING CODE 8011-01-P