This is from the SEC's digest.
CHARLES HUTTOE CONSENTS TO BAR FROM ASSOCIATION WITH ANY REGULATED ENTITY
The Commission announced that on December 11 administrative
proceedings pursuant to Sections 15(b) and 19(h) of the securities
Exchange Act of 1934 (Exchange Act) were instituted against Charles O. Huttoe (Huttoe), who until October 1995 was associated with
Huttoe & Associates, Inc., a broker-dealer formerly registered with the Commission.
The Order Instituting Proceedings, Making Findings and Imposing
Remedial Sanctions (Order) finds that from 1994 until October 1996, Huttoe served as the Chairman of the Board and Chief Executive
Officer of Systems of Excellence, Inc. (SOE), the stock of which was registered with the Commission pursuant to Section 12(g) of the
Exchange Act. The Order finds that on November 7, 1996, the
Commission filed a civil injunctive action against Huttoe alleging violations of the antifraud, securities registration, record-
keeping, and ownership reporting provisions of the federal
securities laws.
The Commission's Order further finds that on November 13, 1996,
Huttoe pleaded guilty to a two-count criminal information charging him with securities fraud and money laundering, in connection with substantially the same conduct alleged in the Commission's
complaint. The Order additionally finds that on November 26, 1997, Huttoe, without admitting or denying the allegations in the
complaint, consented to the entry of a Permanent Injunction against him, prohibiting him from violating Sections 5 and 17(a) of the Securities Act of 1933, Sections 10(b), 13(b)(5), and 16(a) of the
Exchange Act, and Exchange Act Rules 10b-5, 13b2-1, 13b2-2, 16a-2, and 16a-3, and granting other relief.
Simultaneously with the institution of the administrative
proceedings, the Commission accepted Huttoe's offer of settlement in which he consented, without admitting or denying the Commission's
findings, to the issuance of the Order which bars him from
association with any broker, dealer, municipal securities dealers, investment adviser or investment company. (Rel. 34-39431; File No. 3-9509) |
