Ralph Calabro, Jason Konner, and Dimitrios Koutsoubos (Order Granting Petitions for Review and Scheduling Briefs)

UNITED STATES OF AMERICA before the SECURITIES AND EXCHANGE COMMISSION January 13, 2014 SECURITIES ACT OF 1933 Release No. 9509 / January 13, 2014 SECURITIES EXCHANGE ACT OF 1934 Release No. 71290 / January 13, 2014 INVESTMENT ADVISERS ACT OF 1940 Release No. 3753 / January 13, 2014 INVESTMENT COMPANY ACT OF 1940 Release No. 30856 / January 13, 2014 ADMINISTRATIVE PROCEEDING File No. 3-15015 In the Matter of RALPH CALABRO, JASON KONNER, and DIMITRIOS KOUTSOUBOS ORDER GRANTING PETITIONS FOR REVIEW AND SCHEDULING BRIEFS Pursuant to Commission Rule of Practice 411,1 the petitions of Ralph Calabro, Jason Konner, and Dimitrios Koutsoubos for review of the administrative law judge's initial decision2 are granted. Pursuant to Rule of Practice 411(d),3 the Commission will determine what sanctions, if any, are appropriate in this matter. Accordingly, IT IS ORDERED, pursuant to Rule of Practice 450(a),4 that petitioners' briefs in support of their petitions for review shall be filed by February 12, 2014. A brief in 1 17 C.F.R. ' 201.411. 2 Ralph Calabro, et al., Initial Decision Rel. No. 517 (Nov. 8, 2013), 107 SEC Docket 11. 3 17 C.F.R. ' 201.411(d). 4 17 C.F.R. ' 201.450(a) 2 opposition shall be filed by March 14, 2014, and any reply briefs shall be filed by March 28, 2014.5 Pursuant to Rule of Practice 180(c),6 failure to file a brief in support of the petition may result in dismissal of this review proceeding as to that petitioner. For the Commission, by the Office of General Counsel, pursuant to delegated authority. Elizabeth M. Murphy Secretary 5 As provided by Rule of Practice 450(a), no briefs in addition to those specified in this schedule may be filed without leave of the Commission. Attention is called to Rules 150 – 153, 17 C.F.R. '' 201.150 – 153, with respect to form and service, and Rules of Practice 450(b) and (c), 17 C.F.R. '' 201.450(b), 201.450(c), with respect to content and length limitations. Requests for extensions of time to file briefs are disfavored. 6 17 C.F.R. ' 201.180(c).