0001611606-19-000005.txt : 20191114 0001611606-19-000005.hdr.sgml : 20191114 20191114154528 ACCESSION NUMBER: 0001611606-19-000005 CONFORMED SUBMISSION TYPE: MA-I/A PUBLIC DOCUMENT COUNT: 1 CARTER,DOUGLAS,EDSEL, FILED AS OF DATE: 20191114 DATE AS OF CHANGE: 20191114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DEC Associates Inc CENTRAL INDEX KEY: 0001611606 IRS NUMBER: 201959956 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: MA-I/A SEC ACT: 1934 Act SEC FILE NUMBER: 868-02117 FILM NUMBER: 191219641 BUSINESS ADDRESS: STREET 1: 2133 SOUTHEND DRIVE UNIT 306 CITY: CHARLOTTE STATE: NC ZIP: 28203 BUSINESS PHONE: 7043347478 MAIL ADDRESS: STREET 1: 2133 SOUTHEND DRIVE UNIT 306 CITY: CHARLOTTE STATE: NC ZIP: 28203 MA-I/A 1 primary_doc.xml MA-I/A 0001611606 XXXXXXXX Andrew Carter 704-334-7478 acarter@decassociatesinc.com acarter@decassociatesinc.com N N Douglas Edsel Carter N 1 0001611606 DEC Associates Inc 12-02-2004 N 867-00299 LOCATED SUPERVISED 12-02-2004 2133 SOUTHEND DRIVE UNIT 306 CHARLOTTE NC 28203 12-2004 DEC Associates Inc. Charlotte NC 28203 Y N President & Managing Director 10-2002 12-2004 Stearne Agee Birmingham AL 35209 Y N Managing Director N N N N N N N N N N Y N Y Y N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N 11-14-2019 Andrew Carter Vice President This matter arises out of two municipal bond refunding transactions by the Commonwealth of Pennsylvania in 1994 (referred to jointly as the "Pennsylvania Refundings"). In each of the refundings, Alex. Brown sold United States Treasury securities to the Commonwealth to fund defeasance escrows. Carter did not participate in the first refunding, but was the lead Alex. Brown banker on the second refunding. Carter knew or should have known that Alex. Brown had overcharged the Commonwealth for the escrow securities on the first refunding, and he failed to disclose this fact to the Commonwealth. In anticipation of the institution of these proceedings, Carter has submitted an offer of settlement, which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceeding brought by or on behalf of the Commission or in which the Commission is a party, and prior to a hearing pursuant to the Commission's Rules of Practice and Procedure, Carter, without admitting or denying the findings contained herein, except that he admits to the jurisdiction of the Commission over him and over the subject matter of these proceedings, consents to the entry of the findings, the institution of the cease-and-desist order, and the imposition of the remedial sanctions. 6C(2) 6C(4) 6C(5) Cease and Desist Censure CivilAdminPenaltyFine 11-17-1999 SEC Administrative Proceedings 3-10099 450 5th Street NW Washington DC 20001 Alex Brown and Sons Direct Investment(s) - DPP & LP Interest(s) This matter arises out of two municipal bond refunding transactions by the Commonwealth of Pennsylvania in 1994 (referred to jointly as the "Pennsylvania Refundings"). In each of the refundings, Alex. Brown sold United States Treasury securities to the Commonwealth to fund defeasance escrows. Carter did not participate in the first refunding, but was the lead Alex. Brown banker on the second refunding. Carter knew or should have known that Alex. Brown had overcharged the Commonwealth for the escrow securities on the first refunding, and he failed to disclose this fact to the Commonwealth. Cease and Desist Censure CivilAdminPenaltyFine 35000.00 35000.00 35000.00 35000.00 11-17-1999 Settled 11-17-1999