Commonwealth Equity Services, LLP d/b/a Commonwealth Financial Network; Detwiler, Mitchell, Fenton & Graves, Inc.; James X. McCarty

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 56981 / December 18, 2007

Administrative Proceeding
File Nos. 3-12749, 3-12750 and 3-12751

Notice is hereby given, pursuant to Rule 1103 of the Securities and Exchange Commission's ("Commission") Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1103, that the Division of Enforcement has submitted to the Commission a proposed plan ("Distribution Plan") for the distribution of monies placed into a Fair Fund in the above-captioned matter.

On September 6, 2007, the Commission issued orders against three Respondents: an Order Instituting Administrative Proceedings, Making Findings, and Imposing Remedial Sanctions Pursuant to Section 15(b) of the Securities Exchange Act of 1934 against Commonwealth Equity Services, LLP d/b/a Commonwealth Financial Network; an Order Instituting Administrative Proceedings, Making Findings, and Imposing Remedial Sanctions Pursuant to Section 15(b) of the Securities Exchange Act of 1934 against Detwiler, Mitchell, Fenton & Graves, Inc.; and an Order Instituting Administrative Proceedings, Making Findings, and Imposing Remedial Sanctions Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940 against James X. McCarty. See Commonwealth Equities, LLP d/b/a Commonwealth Financial Network, Exchange Act Rel. No. 56362 (Sept. 6, 2007); Detwiler, Mitchell, Fenton & Graves, Inc., Exchange Act Rel. No. 56363 (Sept. 6, 2007); James X. McCarty, Exchange Act Rel. No. 56364 (Sept. 6, 2007). Simultaneously with the entry of the Orders, the Commission accepted settlement offers from the Respondents in which each consented to the entry of the Orders without admitting or denying the Orders' findings and agreed to pay a total of $550,003 in disgorgement and penalties.

In accordance with the Orders, Respondents have paid disgorgement and penalties to the Commission and this money was used to create a Fair Fund for distribution pursuant to the proposed Distribution Plan to investors of Bradford C. Bleidt who were harmed by the conduct described in the Orders.

OPPORTUNITY FOR COMMENT

Pursuant to this Notice, all interested parties are advised that they may print a copy of the proposed Distribution Plan from the Commission's public website, http://www.sec.gov. Interested parties may also obtain a written copy of the proposed Distribution Plan by submitting a written request to: Michele T. Perillo, United States Securities and Exchange Commission, 33 Arch Street, 23rd Floor, Boston, MA 02110-1424. All persons who desire to comment on the Distribution Plan may submit their comments, in writing, no later than January 17, 2008:

1. to the Office of the Secretary, United States Securities and Exchange Commission, 100 F Street, N.E., Washington, DC 20549-1090;
    
2. by using the Commission's Internet comment form (Submit comments on Proposed Distribution Plan); or
    
3. by sending an e-mail to rule-comments@sec.gov.

Please include "Administrative Proceeding File Number 3-12749" on the subject line of any electronic filing. Comments received will be publicly available. Persons should only submit information that they wish to make publicly available.

THE DISTRIBUTION PLAN

The proposed Distribution Plan provides for distribution to eligible investors their share of the disgorgement and civil penalties paid by Respondents in connection with the Orders referenced above. The proposed Distribution Plan describes the procedures by which a Fund Administrator will determine the eligible recipients and the amount to be paid to each eligible recipient.

For the Commission, by its Secretary, pursuant to delegated authority.