John DelPrince

Securities Exchange Act of 1934
Release No. 48499 / September 17, 2003

Administrative Proceeding
File No. 3-11223

The Securities and Exchange Commission (Commission or SEC) instituted this proceeding on August 15, 2003, by an Order Instituting Proceedings (OIP), pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act).

The OIP was served on Respondent John DelPrince (DelPrince) at Davie, Florida, on August 23, 2003. By the terms of the OIP and Rule 220(b) of the Commission's Rules of Practice, 17 C.F.R. § 201.220(b), DelPrince's Answer was due twenty days later. No Answer has been filed, and the time for filing has now expired. In addition, the Division of Enforcement has filed a pleading representing that DelPrince has informed it that he does not intend to file an Answer, contest the allegations in the OIP, or oppose the requested sanction, which is a bar on association with any broker or dealer.

Accordingly, DelPrince is in default within the meaning of Rules 155(a)(2) and 220(f) of the Commission's Rules of Practice, 17 C.F.R. §§ 201.155(a)(2), .220(f), and an Administrative Law Judge may determine the proceeding against him upon consideration of the record, including the OIP, the allegations of which may be deemed to be true.

I find the following allegations in the OIP to be true:

DelPrince, age 46, is a resident of Florida. At all relevant times, DelPrince was the president and majority shareholder of Old Dominion Securities, Inc. (Old Dominion), a broker and dealer registered with the Commission pursuant to Section 15(b) of the Exchange Act.

On February 25, 2003, the Commission filed a complaint in the United States District Court for the Middle District of Florida against DelPrince and others. The civil action was captioned SEC v. Magnan, Civil Action No. 8:03-CV-321-T-27 (M.D. Fla.) (Complaint). The Complaint alleged, among other things, that from at least July 2000 to December 2000, DelPrince knowingly, willfully, or recklessly aided and abetted Old Dominion in permitting a person who had been barred by the Commission from association with any broker or dealer to become and remain associated with Old Dominion.

On July 31, 2003, the court granted the Commission's motion for default and entered an Order of Default Judgment of Permanent Injunction and Other Relief against DelPrince (Default Judgment). The Default Judgment permanently enjoined DelPrince from aiding and abetting any violation of Section 15(b)(6)(B)(ii) of the Exchange Act, which prohibits any broker or dealer from permitting a person barred by the Commission from association with any broker or dealer to become and remain associated with any broker or dealer without the consent of the Commission.

In view of the foregoing, I find that it is in the public interest to bar DelPrince from associating with any broker or dealer.

Pursuant to Section 15(b) of the Securities Exchange Act of 1934, IT IS ORDERED THAT John DelPrince is barred from association with any broker or dealer.