- Current report filing (8-K)
July 27 2009 - 6:02AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported):
July 23, 2009
Thomas
Weisel Partners Group, Inc.
(Exact
name of registrant as specified in its charter)
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Delaware
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No.
000-51730
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No.
20-3550472
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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One
Montgomery Street
San
Francisco, California
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94104
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
(415) 364-2500
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N.A.
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(Former
name or former address, if changed since last
report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Item
8.01 Other
Events
As
previously reported, the Staff (the “Staff”) of the Enforcement
Department of the Financial Industry Regulatory Authority (“FINRA”) has been
conducting an inquiry into the purchases of auction rate securities (“ARS”)
through “downstream” broker-dealers, including Thomas Weisel Partners LLC
(“TWP”), a subsidiary of Thomas Weisel Partners Group, Inc. (the
“Company”). TWP has been responding to the Staff’s requests for
documents, testimony and other information.
On July
23, 2009, the Staff advised TWP that it has made a preliminary determination to
recommend disciplinary action in connection with TWP’s transactions in ARS on
behalf of its customers, including transactions for and with the
Company. The Staff’s recommendation involves potential violations of
FINRA and Municipal Securities Rulemaking Board rules and certain anti-fraud and
other provisions of the federal securities laws in connection with the purchases
and sales of ARS and certain statements and disclosures made in connection with
those purchases and sales. A Staff preliminary determination is
neither a formal allegation nor is it evidence of wrongdoing. TWP now
has the opportunity to provide its perspective on relevant events and alleged
conduct and to address issues raised prior to any formal action being
taken.
TWP is
continuing to work with the Staff to bring this matter to a close as
expeditiously as practicable and, as applicable, will provide the Staff with
legal and factual arguments relating to the preliminary determination, but there
can be no assurance that those efforts will be successful or that a disciplinary
proceeding will not be brought. TWP is prepared to contest vigorously
any formal disciplinary action that would result in a censure, fine, or other
sanction that could be material to our business, financial position or results
of operations. If FINRA were to institute disciplinary action, it is
possible that such action could result in a material adverse effect on the
Company’s business, financial position or results of
operations. However, the Company is unable to determine at this time
the impact on it of the ultimate resolution of this matter.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Thomas
Weisel Partners Group, Inc.
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Date:
July 24, 2009
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By:
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/s/
Ryan Stroub
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Name:
Ryan Stroub
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Title: Chief
Financial Officer
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