More impeccable credentials:
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 39533 / January 9, 1998
ADMINISTRATIVE PROCEEDING
File No. 3-9525
:
In the Matter of : ORDER INSTITUTING PROCEEDINGS
: PURSUANT TO SECTIONS 15(b) AND
Bret L. Boteler, : 19(h) OF THE SECURITIES
: EXCHANGE ACT OF 1934, MAKING
Respondent. : FINDINGS AND IMPOSING REMEDIAL
: SANCTIONS
:
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate and in the public interest to institute public administrative
proceedings pursuant to Sections 15(b)(6) and 19(h)(3) of the Securities
Exchange Act of 1934 ("Exchange Act"), against Bret L. Boteler ("Boteler").
In anticipation of the institution of these proceedings, Boteler has
submitted an Offer of Settlement ("Offer") to the Commission which the
Commission has determined to accept. Solely for the purposes of this
proceeding and any other proceeding brought by or on behalf of the
Commission or in which the Commission is a party, prior to a hearing
pursuant to the Commission's Rules of Practice, 17 C.F.R. 201.100 et
seq., and, without admitting or denying the findings contained herein,
except for the permanent injunction described below and the jurisdiction of
the Commission over him in this matter, which is admitted, Boteler consents
to the institution of public administrative proceedings, and the findings
and remedial sanctions set forth below.
Accordingly, IT IS ORDERED that proceedings pursuant to Sections 15(b)
and 19(h) of the Exchange Act be, and hereby are, instituted.
II.
On the basis of this Order Instituting Proceedings Pursuant to
Sections 15(b) and 19(h) of the Securities Exchange Act of 1934, Making
Findings and Imposing Remedial Sanctions ("Order") and the Offer submitted
by Boteler, the Commission finds that:<(1)>
A. From January 1991 until January 1994, and from September 1994 to
June 1995, Boteler was associated as a registered representative with
Kinlaw Securities Corporation, formerly a broker-dealer registered with the
Commission and formerly a member of the National Association of Securities
Dealers, Inc.
B. On December 18, 1997, Boteler was permanently enjoined from viola-
tions of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and
Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder, by
the United States District Court for the Northern District of Texas (Dallas
Division) [SEC v. Kinlaw Securities Corporation, et al., 3:93-CV-2010-T].
Boteler consented to the entry of the permanent injunction without
admitting or denying any violation of the federal securities laws, as
alleged in the Commission's First Amended Complaint.
C. The Commission's First Amended Complaint in SEC v. Kinlaw
Securities Corporation, et al. alleges that the defendants, including
Boteler, engaged in the offer, purchase and sale of securities in the form
of investment contracts involving interests in oil and gas drilling
ventures in violation of the registration and antifraud provisions of the
federal securities laws. The First Amended Complaint also alleges that in
connection with the offer, purchase and sale of these securities, the
defendants made material misrepresentations and omissions of material fact
concerning, among other things, the risks and expected returns associated
with the oil and gas investments, the costs to drill and complete oil and
gas wells, and the success of prior oil and gas wells.
III.
In view of the foregoing, the Commission deems it appropriate and in
the public interest to impose the sanctions specified by Boteler in his
Offer.
<(1)> The findings herein are made pursuant to the Offer of
Settlement submitted by Boteler and are not binding on
any other person or entity named as a respondent in
this or any other proceeding.
======END OF PAGE 2======
Accordingly, IT IS ORDERED that, effective immediately, Bret L.
Boteler be, and hereby is, barred from association with any broker, dealer,
municipal securities dealer, investment company or investment adviser.
By the Commission.
Jonathan G. Katz
Secretary
www.sec.gov/litigation/admin/3439533.txt