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04/30/68 Howard James Hansen, D/B/A v. Securities and Exchange

UNITED STATES COURT OF APPEALS FOR THE DISTRICT OF COLUMBIA CIRCUIT


April 30, 1968

HOWARD JAMES HANSEN, D/B/A H. J. HANSEN AND COMPANY, AND HOWARD J. HANSEN, INDIVIDUALLY, PETITIONERS

v.

SECURITIES AND EXCHANGE COMMISSION, RESPONDENT 1968.CDC.81 DATE DECIDED: APRIL 30, 1968

Wilbur K. Miller, Senior Circuit Judge, and Burger and Wright, Circuit Judges.

UNITED STATES COURT OF APPEALS FOR THE DISTRICT OF COLUMBIA CIRCUIT

Petition for Rehearing Denied June 5, 1968. Certiorari Denied October 14, 1968, 393 U.S. 847, 21 L. Ed. 2d 118, 89 S. Ct. 134.

APPELLATE PANEL:

PER CURIAM DECISION

Petitioner Hansen asks review of a Securities and Exchange Commission order *fn1 which denied his application for registration as a securities broker and found petitioner responsible, in part, for the revocation of the registration of Atlantic Equities Company. The only question raised on this appeal is whether the testimonial record of a prior proceeding *fn2 against Atlantic, involving the same stock fraud on which the Commission's order against petitioner was based, was properly admitted into evidence in this proceeding. Since the witnesses who testified in the prior proceeding were made available to petitioner for cross-examination, we find no error. *fn3

The rules applicable to conventional judicial proceedings are not necessarily applicable to administrative proceedings. In a matter such as this one, involving charges of fraud and manipulation in the issuance of stock, with a lengthy record, it was within the Commission's discretion to receive the transcribed testimony, while still comporting with fairness to petitioner by offering the opportunity to cross-examine any witness whose transcribed testimony was so received.

Affirmed.

CASE RESOLUTION

Affirmed.


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