Finality Order of an Initial Decision of an SEC Administrative Law Judge

In the Matter of
William M. Valiant,
Paul W. Henry

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.

SECURITIES EXCHANGE ACT OF 1934
Rel. No. 42768 / May 9, 2000

Admin. Proc. File No. 3-9546

In the Matter of WILLIAM M. VALIANT, PAUL W. HENRY

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NOTICE THAT INITIAL DECISION HAS BECOME FINAL AS TO RESPONDENTS WILLIAM M. VALIANT AND PAUL W. HENRY

The time for filing for review of the initial decision in this proceeding has expired. No petition has been filed with respect to William M. Valiant ("Valiant") and Paul W. Henry ("Henry"), and the Commission has not chosen to review the decision as to them on its own initiative. Three other respondents in this matter have filed a petition for review of the initial decision, and we have granted their petition.

Accordingly, notice is hereby given, under Rule 360(e) of the Commission's Rules of Practice, that the initial decision of the administrative law judge² has become the final decision of the Commission as to Valiant and Henry. The decision found that Valiant had not violated the antifraud provisions of the securities laws and provided for no remedial action against him. The order contained in that decision declared that Henry: (a) cease and desist from committing or causing any violations or any future violations of Section 17(a) of the Securities Act of 1933,³ and Section 10(b) of the Securities Exchange Act of 1934⁴, and Rule 10b-5 thereunder, and Section 17(j) of the Investment Company Act of 1940⁵, and Rule 17j-1 thereunder; (b) be suspended from associating with any registered investment company for 30 days, under Section 9(b) of the Investment Company Act; (c) disgorge $10,187.50, and pay prejudgment interest on this amount; and (d) be assessed a civil penalty of $10,000.

The payment of disgorgement, interest and civil penalty shall be made within 30 days of the date of this notice. The rate of interest on the disgorgement amount shall be established under 28 U.S.C. Section 6621(a)(2), compounded quarterly, under Rule of Practice 600, 17 C.F.R. 201.600. Payment shall be: (a) made by United States postal money order, certified check, bank cashier's check, or bank money order; (b) made payable to the Securities and Exchange Commission; (c) mailed to the Comptroller, Securities and Exchange Commission, 6432 General Green Way, Suite B, Mail Stop o-3, Alexandria, Virginia 22312; and (d) submitted under cover letter which identifies Paul W. Henry as a respondent in this proceeding, as well as the Commission's case number. A copy of the cover letter and money order or check shall be sent to Kathryn A. Pyszka, Midwest Regional Office, Securities and Exchange Commission, 500 West Madison Street, Suite 400, Chicago, Illinois 60661-2511.

For the Commission by the Office of General Counsel, pursuant to delegated authority.

Jonathan G. Katz
Secretary

¹ Monetta Financial Services, Inc., et al., Order Granting Petitions for Review and Scheduling Briefs, Admin Proc. File No. 3-9546 (April 27, 2000)

² Monetta Financial Services, Inc. et al., Initial Decision Rel. No. 162 (March 27, 2000), SEC Docket .

³ 15 U.S.C. Section 77q(a).

⁴ 15 U.S.C. 78j(b).

⁵ 15 U.S.C. 80a-17(j).

http://www.sec.gov/litigation/aljdec/34-42768.htm