The allegations read: 01/14/00gs: article iii, sections 1 and 27 - respondent baum, gross and williams failed to make bokna fide public offerings in the distribution of new issues; respondent kern submitted to the nasd incomplete and inaccurate free-riding questionnaires; and respondent member failed to supervise properly the activities of respondents baum, gross, williams and kern. *** decision rendered february 7, 1972 wherein respondents member and baum, williams, and kern are censured and assessed costs of $754.66, jointly and severally. The complaint was dismissed as to respondent gross. **** march 23, 1972 - called for review. *** board of governors decision rendered december 7, 1972 wherein the findings made and the sanctions imposed are modified; therefore, respondents member, baum, williams, and kern are censured, respondent member is fined $1,000, respondent baum is fined $6,000, respondent williams is fined $2,000, respondent kern is fined $500, and respondnets member, baum, williams and kerns are assessed dobc costs of $754.66, jointly and severally. The complaint is dismissed as to respondent gross. If no further action, decision is final january 6, 1973. --- january 6, 1973 - decision is final.
