Defendant Name:
Jefferies LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Jefferies Group, Inc.
SIC Code:
6211
CUSIP:
47231910
Document Reference:
34-54861
Document Details
Legal Case Name
In the Matter of Jefferies & Co., Inc. and Scott Jones
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934
Document Date
01-Dec-2006
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On December 1, 2006, the SEC instituted settled administrative and cease-and-desist proceedings against Jefferies & Co., Inc. and Scott Jones. According to the SEC: "This proceeding concerns [Kevin] Quinn's provision of approximately $2 million in extensive travel, entertainment and gifts to certain employees of an investment adviser (the 'Fund Adviser') to a family of mutual funds (the 'Funds'). The employees included several securities traders, whose responsibilities included directing securities transactions for the Funds to brokerage firms for execution, and the head of the Fund Adviser's global equity trading desk ('Head of Equity Trading'), who supervised the securities traders and decided which securities brokerage firms would be approved to handle equity transactions for the Funds." Kevin Quinn was an account executive and senior vice president, equity and sales, at Jefferies until his termination on October 11, 2004.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Various undertakings
Cooperation Before the Resolution
Fair Funds
Plan of Distribution
Monetary Penalties:
Disgorgement
Individual:
$4,214,945.65
Shared:
Pre-Judgment Interest
Individual:
$580,316.26
Shared:
Other Defendants in Action:
