N E W Y O R K S T O C K E X C H A N G E, I N C. EXCHANGE HEARING PANEL DECISION 97-54 May 20, 1997 MATTHEW BRADBURY MARSTON FORMER REGISTERED REPRESENTATIVE * * * Caused a violation of Rule 440 and SEC Regulation 240.17a-3 by causing inaccurate entries to be made to the books and records of his employer -- Consent to censure, two month plenary bar, four month restriction from entering proprietary transactions, and a requirement to take and pass the Series 7 examination before again acting as a trader. Appearances: For the Di visi on of Enf orcement For the Respondent Margaret S. Fox, Esq. Matthew Bradbury Marston Dorian M. Gross, Esq. pro se * * * An Exchange Heari ng Panel met to consider a Stipulati on of Facts and Consent to Penalty entered into between the Exchange's Division of Enforcement and Matthew Bradbury Marston, a former registered representati ve with Grun tal & Co. Incorporated (the "Firm"). Wi thout admitting or denying guilt, Marston consents to a finding by the Hearing Panel that he caused a violation ofExchange Rule 440 and SEC Regulati on 240.17a-3, in that in November 1993 he caused inaccurate entries to be made to the books and records of his member organization employer with respect t o the essential detail s of t ransactions i n mortgage-backed securities and with respect to the valuation of a mortgage-backed security. For the sole purpose of settling this disciplinary proceeding, the Division of Enforcement and Marston stipulate to the following: Background and Jurisdiction 1.Marsto n was b orn on June 5, 1959. He became registered in the securities industr y i n or about Janua ry 1983. He was empl oyed by the Firm from May 1993 to Dec ember 1993. Since April 1995, Marston has not been employed in the securities industry. 2.The Exchange received a Form U-5 concerning Marston from the Firm, which was dated January 10, 1994. The Form U-5 reported that Marston had been perm itted to resign on or about December 10, 1993.
