On June 15, 2016, the Securities and Exchange Commission issued an order instituting proceedings (OIP) against Respondents pursuant to Section 12(j) of the Securities Exchange Act of 1934. The hearing is scheduled to commence on July 11, 2016.
Today the Division of Enforcement filed a declaration of service establishing that Respondents were served with the OIP by June 20, 2016, by U.S. Postal Service express mail in accordance with Rule of Practice 141(a)(2)(ii), 17 C.F.R. § 201.141(a)(ii). Respondents’ answers are due by July 5, 2016. OIP at 3; 17 C.F.R. §§ 201.160(a)-(b), .220(b).
I ORDER that the hearing scheduled for July 11, 2016, is POSTPONED and a telephonic prehearing conference shall be held on July 19, 2016, at 2:30 p.m. EDT. Any Respondent that fails to timely file an answer, appear at the prehearing conference, or otherwise defend the proceeding will be deemed in default and the registration of its securities will be revoked. OIP at 3; 17 C.F.R. §§ 201.155(a), .220(f), .221(f).