AN ANNOUNCEMENT FROM THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION:
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934
RELEASE NO. 39749/ March 13, 1998
The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of over-the-counter trading of the securities of International Heritage, Inc. ("IHIN"), a Raleigh, North Carolina company which holds itself out to be a direct sales organization selling various products, including lines of expensive jewelry, collectibles, luggage, golf equipment and long distance service, from 1:00 P.M. EST, March 13, 1998 through 11:59 P.M. EST, on March 26, 1998.
The Commission temporarily suspended trading in the securities of IHIN because of questions regarding the accuracy of statements concerning, among other things, the return investors could expect to receive on their investment, the regulatory background of the company and the background of its president.
The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by IHIN.
The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker of dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to IHIN's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.
If any broker-dealer or other person has any information which may relate to this matter, please contact Jay Perlman of the Division of Enforcement of the United States Securities and Exchange Commission at (202)942-4867.
Here is an unofficial copy of the Order of Suspension of Trading:
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
:
INTERNATIONAL HERITAGE : ORDER OF SUSPENSION
INC. : OF TRADING
:
File No. 500-1 :
:
It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of International Heritage, Inc. ("IHIN"), a Raleigh, North Carolina company which holds itself out to be a direct sales organization selling various products, including lines of expensive jewelry, collectibles, luggage, golf equipment and long distance service, because of questions regarding the accuracy of statements concerning, among other things, the return investors could expect to receive on their investment, the regulatory background of the company and the background of its president.
The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company.
Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the above-listed company is suspended for the period from 1:00 P.M EST, March 13, 1998 through 11:59 P.M. EST, on March 26, 1998.
By the Commission.
/S
Jonathan G. Katz
Secretary |
