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To: dwight martin who wrote (4308)	2/3/1999 2:57:00 PM
From: dwight martin	Respond to of 4748

And Southeast Research Partners; Inc.'s past seems to be checkered as well: corporatewindow.com GKN Holding Corp. (the Company) provides securities brokerage, investment banking, and trading services to emerging growth and small capitalization corporate clients and investors through its principal operating subsidiaries. In the fiscal year ended January 31, 1997, these subsidiaries consisted of GKN Securities Corp. (GKN Securities), Shochet Securities, Inc. (Shochet), and GKN Securities AG (GKN AG). In March 1997 the Company acquired Southeast Research Partners, Inc. (Southeast), a research and institutional brokerage boutique which maintains research coverage on small and mid-capitalization companies. The Company also has operations in the money management business, through its GKN Fund Management, Inc. subsidiary, which began operations in March 1995, and in merchant banking, through its Dalewood Associates, Inc. (Dalewood) subsidiary, which it acquired in December 1996. The Company, which became a public company in July 1996, was incorporated in Delaware in January 1987. ** On January 15, 1997, GKN Securities and Robert Gladstone, Executive Vice President of GKN Securities, concluded a settlement with the SEC resolving an SEC investigation arising out of customer complaints against ten brokers and alleged related supervisory failures during 1991 and 1992. The Offer of Settlement was entered into by GKN Securities and Robert Gladstone, both without admitting or denying the SEC's findings. The SEC stated in its findings that from 1990 through 1992 GKN Securities hired a large number of registered representatives and that the number of customer complaints received by GKN Securities rose substantially. The SEC stated that GKN Securities and Robert Gladstone failed to establish adequate supervisory procedures to monitor the sales practices of GKN Securities' registered representatives and that they failed to have in place procedures to track customer complaints, to identify multiple complaints against particular registered representatives and to adequately respond to the sales practice violations reflected by the customer complaints. The SEC's order also contained GKN Securities' representation that, since the latter part of 1992, it has undertaken a number of specific efforts to 8 improve its supervisory and compliance systems and to maintain these policies and procedures. Under the terms of the settlement agreement, GKN Securities paid a penalty of $100,000 and has engaged an independent consultant to review the firm's supervisory and compliance policies and procedures. GKN Securities also agreed to implement any recommendations made by the independent consultant. Robert Gladstone paid a penalty of $50,000, and was suspended from all association in any capacity with any broker, dealer, investment adviser, investment company or municipal securities dealer for a period of thirty days (which period has expired), and thereafter may not be so associated in a supervisory capacity for the next eleven months. Robert Gladstone remains an officer of GKN Securities and the Company and a principal stockholder of the Company. nt1.irin.com quote.yahoo.com (DN EXIST ANYMORE?) They still exist, meebe went private? gknholding.com