Russell L. Irish, Dba Russell L. Irish Investments v. Securities & Exchange Commission

This is a petition to review an order of the Securities and Exchange Commis sion revoking the registration as a broker and dealer in securities of Russell L. Irish, expelling him from membership in the National Association of Securities Dealers, Inc., and naming Russell Lawson Irish, Mr. Irish’s son whom he employs as a salesman, as a cause of that revocation and expulsion. The SEC entered the order on August 27,1965, pursuant to sections 15(b) and 15A of the Securities Exchange Act of 1934, 15 U.S.C. § 78o (b) and 78o-3. Jurisdiction of this court is based on section 25(a) of the Securities Exchange Act, 15 U.S.C. § 78y (a).

Mr. Irish contends (1) the Commission’s findings are not supported by substantial evidence; (2) the Commission by unduly delaying the proceedings violated its own Rules of Practice and the Administrative Procedure Act; (3) the Commission’s delay deprived Mr. Irish of “due process of law.” We consider these contentions in order.

Upon consideration of the record and the briefs and arguments of counsel, we conclude the record contains substantial evidence to support the Commission’s findings that Mr. Irish advanced his own interests to the detriment of his…