Pages - 4
The ALJ barred Harris from association with an investment adviser based on the Division of Enforcement's motion for summary disposition. The proceedings were based on his criminal conviction in Alabama. Since Harris' criminal conviction was reversed on appeal, it could no longer serve as a basis for proceedings under the Investment Advisers Act. There was insufficient evidence in the record to determine whether an Alabama cease and desist order against Harris was final (which could have been al alternative jurisdictional basis for the proceeding). The ALJ did not rely on that order in entering her order and made no finding of whether it was final. Therefore the proceedings cannot be based on that order. The proceedings were therefore dismissed.
