Bruce E. Straughn

SECURITIES EXCHANGE ACT OF 1934
Release No. 45555 / March 13, 2002

ADMINISTRATIVE PROCEEDING
File No. 3-10640

Respondent Bruce E. Straughn is in default pursuant to Rules 155 and 221 of the Securities and Exchange Commission's ("Commission") Rules of Practice, 17 C.F.R. §§ 201.155, .221. On March 4, 2002, Straughn submitted a Motion to Default indicating his intent to accept a default in this proceeding. On March 8, 2002, I issued a prehearing order notifying the parties that Straughn's Motion to Default and related issues would be addressed at the prehearing conference that had already been set for March 12, 2002. On March 9, 2002, Straughn submitted an additional letter indicating his intent to accept a default, and on March 10, 2002, he submitted an "Offer of Settlement" stating he would agree to certain sanctions "by default." On March 11, 2002, Straughn submitted a "Notice of Submission" also indicating his intent to accept a default and that he "will need time away." Finally, Straughn failed to appear at the March 12 prehearing conference.

Accordingly, I find that the allegations in the Order Instituting Proceedings, which the Commission issued on November 15, 2001, are deemed to be true:

At all relevant times, Straughn was a registered representative associated with a registered broker-dealer.

On August 24, 2000, Straughn pled guilty to a one-count information charging him with misprision of a felony. United States v. Straughn, No. 9:00CR08112-001 (S.D. Fla. 1998).

The information alleged that on or about January 12, 1996, when questioned by a federal investigator, Straughn fraudulently concealed his knowledge of and participation in the commission of a felony involving a securities manipulation scheme.

Straughn's criminal conviction, which arose out of his conduct as an associated person of a broker-dealer, involved the purchase or sale of a security, the making of a false report, and bribery. The facts underlying the conviction involved Straughn's fraudulent concealment of the fact that he accepted bribes from a stock promoter for inducing his clients to purchase the securities of certain issuers affiliated with the promoter.

Straughn was sentenced to six months in prison, one year of probation and ordered to pay a $5,000 fine.

I further find it is in the public interest and necessary and appropriate for the protection of investors to order that Straughn be barred from association with a broker or dealer pursuant to Section 15(b) of the Securities Exchange Act of 1934.

Accordingly, IT IS HEREBY ORDERED, pursuant to Section 15(b) of the Securities Exchange Act of 1934, Bruce E. Straughn be and he hereby is barred from association with any broker or dealer.

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Lillian A. McEwen
Administrative Law Judge