The allegations read: Sec news digest 72-117, june 19, 1972: on june 7, 2009, the sec ordered public proceedings under the securities exchange act of 1934 involving leo glassman, of new york city, who was employed as a registered representative by a broker-dealer registered with the commission. The proceedings are based upon allegations of the commission's staff that during the period from january 1, 1968 to december 31, 1969 glassman willfully violated the antifraud and recordkeeping provisions of the act and applicable rules thereunder. The division charged that glassman violated the antifraud provisions of the exchange act and the securities act of 1933 by opening, at various broker-dealers accounts in the maiden names of his mother and his wife in which accounts he had a beneficial interest and through which he obtained shares in new issues; aided and abetted violations of the book-keeping provisions of the exchange act by establishing such accounts; and caused violations of the bookkeeping provisions by removing and destroying customer ledgers relating to such accounts at the broker-dealer by whom he was employed.
