EFTA00187059¶
BEAR STEARNS¶
Bear, Stearns & Co.¶
55 Water Street¶
New York, N.Y. 10041¶
WRITER’S DIRECT DIAL NUMBER¶
Dear Jeffrey:¶
The Executive Committee has fully reviewed the matter referred to herein and after extensive deliberation has decided the following:¶
You have advised us that you made a loan to a customer for the purpose of his buying securities. This constitutes a violation of Regulation T. Taking into consideration your voluntary disclosure and the fact that it was a single instance, we find you $2.500.00¶
For failing to comply with the spirit of the NASD Regulations with respect to new issue distribution, we suspend you from active employment at Bear Stearns for a period of 60 days, effective immediately.¶
Yours very truly,¶
EXECUTIVE COMMITTEE¶
BEAR, STEARNS & CO.¶
New York/Altanta/Boston/Chicago Dallas/Los Angeles/San Francisco¶