SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.

SECURITIES EXCHANGE ACT OF 1934
Rel. No. 50600 / October 28, 2004

Admin. Proc. File No. 3-11229

ORDER DENYING MOTION FOR RECONSIDERATION

On September 20, 2004, we issued an opinion barring Michael T. Studer, who was president of Castle Securities Corp., formerly a registered broker-dealer, from association with any broker or dealer.¹ Studer now requests reconsideration of our decision.

We found that Castle and Studer had been permanently enjoined from further violations of antifraud and other provisions of the securities laws. The injunctive court found that Castle, Studer, and other defendants engaged in a fraudulent blind pool offering followed by a market manipulation, and that Studer was intimately involved in the fraudulent transactions.² In light of Studer's egregious misconduct, we concluded that a bar was warranted for the protection of public investors.

Our Rule of Practice 470(b) requires that motions for reconsideration "specifically state the matters of record alleged to have been erroneously decided, the grounds relied upon, and the relief sought." Studer's motion does none of these things. It consists of a single sentence requesting reconsideration without any further elaboration. Under the circumstances, we see no basis for reconsidering our prior decision. We shall therefore deny Studer's motion.

Accordingly, it is ORDERED that the motion for reconsideration filed by Michael T. Studer be, and it hereby is, denied.

By the Commission.

Endnotes

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¹ Michael T. Studer, Securities Exchange Act Rel. No. 50411, ___ SEC Docket ____.

² SEC v. U.S. Environmental, Inc., et al., 2003 U.S. Dist. Lexis 12580, *1, Fed. Sec. L. Rep. (CCH) ¶ 92,471.

http://www.sec.gov/litigation/opinions/34-50600.htm