Securities & Exchange Commission v. General Securities Co.

WYATT, District Judge.

The Commission moves, under Section 21(e) of the Securities Exchange Act of 1934, 15 U.S.C. § 78u(e), and Fed.R.Civ. P. 65, for a preliminary injunction which would restrain(1) defendant General Securities, its officers, agents, etc. from future violations of Section 15(c) (3) of the Act, 15 U.S.C. § 78o(c) (3), and Commission Rule X-15c3-l thereunder, 17 C.F.R. Sec. 240.15c3-l, sometimes called the “net capital rule”;(2) defendant General Securities, its officers, agents, etc. from failing to keep its books and records as required by Section 17 (a) of the Act, 15 U.S.C.…