The Securities and Exchange Commission

[Stock]

34-55651 Apr. 20, 2007 Daniel Lovaglio
Note: See also the Order in this matter
http://www.sec.gov/litigation/admin/2007/34-55651.pdf

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934
Release No. 55651 / April 20, 2007
Admin. Proceeding File No. 3-12619
In the Matter of Daniel Lovaglio
The United States Securities and Exchange Commission (“Commission”) announced today that it issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Notice of Hearing (“Order”) against Daniel Lovaglio (“Lovaglio”). In the Order, the Division of Enforcement alleges that on July 30, 2003, Lovaglio pled guilty to one count of conspiracy to commit securities fraud before the United States District Court for the District of New Jersey, United States v. Daniel Lovaglio, 03 Cr. 562 (D.N.J.).
The Order further alleges that the sole count of the criminal information to which Lovaglio pled guilty alleged, among other things, that Lovaglio, while employed as am unregistered representative at Valley Forge Securities, Inc. (“Valley Forge”), a broker-dealer registered with the Commission, contacted Valley Forge customers, posed as a registered broker, and used false and misleading sales practices to sell securities to Valley Forge customers in exchange for undisclosed commissions.
A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Lovaglio an opportunity to dispute these allegations, and to determine what, if any, remedial sanctions against Lovaglio are appropriate and in the public interest pursuant to the Securities Exchange Act of 1934. The Commission directed that an administrative law judge issue an initial decision in this matter within 210 days from the date of service of the Order Instituting Proceedings.