The Securities and Exchange Commission

[Stock]

34-55688 May 1, 2007 Shoreland Trading, LLC

http://www.sec.gov/litigation/admin/2007/34-55688.pdf

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 55688 / May 1, 2007
ADMINISTRATIVE PROCEEDING
File No. 3-12623
In the Matter of
Shoreland Trading, LLC,
Respondent.
ORDER INSTITUTING
ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS
I.
The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”) against Shoreland Trading, LLC (“Shoreland” or “Respondent”).
II.
In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the “Offer”) which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over it and the subject matter of these proceedings, and the findings contained in Section III.2 below, which are admitted, Respondent consents to the entry of this Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions (“Order”), as set forth below.
III.
On the basis of this Order and Respondent’s Offer, the Commission finds that:
1. Shoreland is a broker-dealer registered with the Commission.
2
2. On February 6, 2007, a judgment was entered by consent against Shoreland, permanently enjoining it from future violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. K.L. Group, LLC, et al., Civil Action Number 05-80186-Civ-RYSKAMP/VITUNAC in the United States District Court for the Southern District of Florida.
3. The Commission’s complaint in the civil action alleged that Shoreland and other defendants fraudulently overstated the value of investors’ accounts and the profitability of their trades, while concealing trading losses.
IV.
In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions agreed to in Respondent’s Offer.
Accordingly, it is hereby ORDERED:
Pursuant to Section 15(b) of the Exchange Act, Respondent Shoreland’s registration with the Commission be, and hereby is, revoked.
By the Commission.
Nancy M. Morris
Secretary