Opinion
CASE NO. 1:11-cv-8905
12-16-2011
UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. STEPHEN M. FOLAN, Defendant.
Daniel S. Ryan Eric M. Phillips (IL Bar # 6237871) Daniel S. Ryan (IL Bar # 6279737) Attorneys for the Plaintiff, the United States Securities and Exchange Commission
Honorable
Magistrate Judge Young B. Kim
AGREED MOTION FOR ENTRY OF FINAL JUDGMENT
Plaintiff United States Securities and Exchange Commission ("Commission"), pursuant to the consent of Defendant Stephen M. Folan ("Folan") attached as Exhibit 1 hereto, respectfully moves this Court for the entry of final judgment. In support of this Motion, the Commission states as follows:
This case may be considered related to a case previously filed by the Commission pending before the Honorable Charles P. Kocoras styled United States Securities and Exchange Commission v. Sentinel Management Group, Inc., et al., Case No. 07-cv-4684. However, because this case is being filed as a settled action, the Commission is not filing a motion for reassignment based on relatedness under Local Rule 40.4.
1. On December 15, 2011, the Commission filed a complaint against Folan alleging that Folan aided and abetted Sentinel Management Group, Inc.'s violations of Section 206(2) of the Investment Advisers Act of 1940 [15 U.S.C. § 80b-6(2)].
2. The SEC and Folan have reached a settlement agreement pursuant to which Folan has consented to the entry of an order of final judgment in the form attached to Exhibit 2, that, among other things, permanently enjoins him from aiding and abetting violations of the provisions charged in the Complaint and orders Folan to pay a civil penalty of $50,000.
WHEREFORE, plaintiff United States Securities and Exchange Commission respectfully requests that the Court enter the proposed final judgment attached to Exhibit 2 hereto.
Respectfully submitted,
Daniel S. Ryan
Eric M. Phillips (IL Bar # 6237871)
Daniel S. Ryan (IL Bar # 6279737)
Attorneys for the Plaintiff, the United States Securities and Exchange Commission
CERTIFICATE OF SERVICE
I, Daniel S. Ryan, hereby certify that, on December 16, 2011, I caused a copy of the foregoing Agreed Motion for Entry of Final Judgment to be served upon the following counsel by the Court's CM/ECF system and via electronic mail:
William Sullivan
Mason Floyd
Martin, Brown, Sullivan, Roadman & Hartnett, Ltd.
135 South LaSalle Street, Suite 3200
Chicago, IL 60603
Attorneys for Defendant
Daniel S. Ryan