Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, January 28, 2009

SEC Suspends under Rule 102(e) Attorney Suspended under State Law for Non-Payment of Dues

A cautionary tale:

On January 27, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions against Arthur P. Hipwell. The Order finds that Hipwell has been suspended from the practice of law by the Kentucky Supreme Court and lacks the requisite qualifications to appear and practice before the Commission as an attorney.  Specifically, the SEC alleged that Hipwell was suspended from the practice of law in 1985 by the Kentucky Supreme Court for non-payment of bar association dues.  During most of the time since then, however, Hipwell held himself out as an attorney by representing that he was Senior Vice President and General Counsel of Humana, Inc., including signing SEC filings to that effect.

Based on the above, the Order forthwith suspends Hipwell and denies him the privilege of appearing or practicing before the Commission for a period of one year from the date of the Order. Hipwell consented to the issuance of the Order without admitting or denying any of the findings in the Order. In the Matter of Arthur P. Hipwell

http://lawprofessors.typepad.com/securities/2009/01/sec-suspends-un.html

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