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2 SEC Docket 1 (1973)

handle is hein.journals/secdoc2 and id is 1 raw text is: ULY 3 VOLUME 2, NO. 1 J doc e A WEEKLY CORLIAT:ION OF RELEASES FROM THE SECURITES AND EXCHANGE COlMMISSIOKN RELEASES IN THIS ISSUE Securities Act - 5404 Securities Exchange Act - 10223-34 Public Utility Holding Company Act - 18004-09 Investment Company Act - 7865-70 Investment Advisers Act - 384 Litigation - 5932-42 SIGNIFICANT ITEMS Announcements IA-384 Order Cancelling Registrations Registrations of certain investment advisers cancelled pursuant to Sec- tion 203(i) of the Advisers Act. Enforcement 34-10233 Merrill Lynch, Pierce, Fenner and Smith, Inc., et al. Administrative proceedings ordered against Merrill Lynch and 47 account executives on alleged anti-fraud violations in connection with sales of Scientific Control Corporation stock. LR-5932 Smith and Medford, Inc., et al. Injunction sought against further violations of anti-fraud, net capital and bookkeeping provisions; SIPC trustee appointed. LR-5935 Goldstein, Samuelson, Inc., et al. Guilty plea entered by Harold Goldstein on three counts of mail fraud. Opinions 33-5404 Emanuel Fields Order issued pursuant to Rule 2(e) permanently denying privilege of practicing before Commission. 35-18007 American Electric Power Company, Inc., et al. Order granting exception from competitive bidding requirements. SECURITIES ACT SECURITIES ACT OF 1933 Rel. No. 5404/June 18, 1973 Admin. Proc. File No. 3-3671 In the Matter of EMANUEL FIELDS 60 East 42nd Street New York, New York Rule 2(e), Rules of Practice FINDINGS AND OPINION OF THE COMMISSION ATTORNEYS - PRACTICE AND PROCEDURE Disqualification from Practice before Commission When attorney's answer to Commission's complaint for injunction admitted serious violations of the securities laws, where he consented to permanent injunction re- straining him from such misconduct, and where no sug- gestion of mitigating or extenuating circumstances was made; held, permanent disqualification from practice before the Commission required in the public interest. Jurisdiction to Discipline Attorneys Although Commission does not admit attorneys to practice, it has jurisdiction to discipline those who prac- tice before it. Summary Suspension from Privilege of Practicing before Commission - Due Process Where disciplinary proceeding against attorney was begun by summarily suspending him from practice before the Commission on the basis of a consent judgment of permanent injunction previously entered against him and where he later received ample opportunity to present his case on issue of whether temporary suspension should be made permanent; held, no deprivation of due process. APPEARANCES: Walter P. North, Jacob H. Stillman, and Frederick L, White, for the Office of the General Counsel of the Com- mission. Stanley Kligfeld, of Kaufman & Kligfeld, for Emanuel Fields. In these proceedings pursuant to Rule 2(e) of our Rules of Practice we must determine the nature of the perma- SEC DOCKET/1

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