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UNITED STATES OF AMERICA
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In the Matter of Weiss Research, Inc., Martin Weiss, and Lawrence Edelson, Respondent. |
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NOTICE OF PROPOSED DISTRIBUTION PLAN AND OPPORTUNITY FOR COMMENT |
Notice is hereby given, pursuant to Rule 1103 of the Securities and Exchange Commission's ("Commission") Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. ยง 201.1103, that the Division of Enforcement has submitted to the Commission a proposed plan ("Distribution Plan") for the distribution of monies placed into a Fair Fund in the above-captioned matter.
On June 22, 2006, in the above-captioned matter, the Commission issued an Order Instituting Public Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Sections 203(e), 203(f), and 203(k) of the Investment Advisers Act of 1940 ("Order") with respect to Weiss Research, Inc., Martin Weiss, and Lawrence Edelson (collectively "Respondents"). Simultaneously with the entry of the Order, the Commission accepted settlement offers from Respondents in which they consented to the entry of the Order without admitting or denying the Order's findings and collectively paid $2,166,143 in disgorgement and penalties.
In accordance with the Order, the Respondents paid the disgorgement and penalties to the United States Treasury and this money was used to create a Fair Fund for distribution to investors injured as a result of the Respondents' violations pursuant to the proposed Distribution Plan.
OPPORTUNITY FOR COMMENT
Pursuant to this Notice, all interested parties are advised that they may print a copy of the proposed Distribution Plan from the Commission's public website, http://www.sec.gov. Interested parties may also obtain a written copy of the proposed Distribution Plan by submitting a written request to Chad Alan Earnst, United States Securities and Exchange Commission, 801 Brickell Avenue, Suite 1800, Miami, Florida 33131. All persons who desire to comment on the Distribution Plan may submit their comments, in writing, no later than August 6, 2007:
Please include "Administrative Proceeding File Number 3-12341" on the subject line of any electronic filing. Comments received will be publicly available. Persons should submit only information that they wish to make publicly available.
THE DISTRIBUTION PLAN
The proposed Distribution Plan provides for distribution to certain investors their share of the disgorgement, civil penalties, and interest collectively paid by the Respondents in connection with the Order referenced above. The proposed Distribution Plan describes the procedures by which an Administrator will determine the eligible claimants and eligible claims. The proposed Distribution Plan further describes how the Administrator will calculate the amount to be paid to each eligible claimant.
For the Commission, by its Secretary, pursuant to delegated authority.
Nancy M. Morris
Secretary
See also Proposed Distribution Plan
http://www.sec.gov/litigation/admin/34-56011.htm
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