Edward M. Daspin, et al. (Order Granting Extension)

UNITED STATES OF AMERICA before the SECURITIES AND EXCHANGE COMMISSION SECURITIES ACT OF 1933 Release No. 10040 / February 18, 2016 SECURITIES EXCHANGE ACT OF 1934 Release No. 77177 / February 18, 2016 ADMINISTRATIVE PROCEEDING File No. 3-16509 In the Matter of EDWARD M. DASPIN, a/k/a “EDWARD (ED) MICHAEL,” LUIGI AGOSTINI, and LAWRENCE R. LUX ORDER GRANTING EXTENSION Chief Administrative Law Judge Brenda P. Murray has moved, pursuant to Commission Rule of Practice 360(a)(3),1 for a six-month extension to issue the initial decision as to Edward M. Daspin in this proceeding. The initial decision is currently due by February 22, 2016. We adopted Rule of Practice 360(a) to enhance the timely and efficient adjudication and disposition of Commission administrative proceedings by setting deadlines for issuance of an initial decision.2 That rule provides for extensions of those deadlines under certain circumstances if supported by a motion from the Chief Administrative Law Judge and if we determine that "additional time is necessary or appropriate in the public interest."3 From our review of the present motion, it appears appropriate in the public interest to grant the Chief Administrative Law Judge’s request and extend the time period for filing the initial decision.4 1 17 C.F.R. § 201.360(a)(3). 2 17 C.F.R. § 201.360(a); see Adopting Release, Exchange Act Release No. 48018, 2003 WL 21354791, at *2 (June 11, 2003) ("[T]he Commission has determined that timely completion of proceedings can be achieved more successfully through the adoption of mandatory deadlines and procedures designed to meet these deadlines."). 3 17 C.F.R. § 201.360(a)(3). 4 See Edward M. Daspin, a/k/a “Edward (Ed) Michael,” Luigi Agostini, and (continued . . .) 2 Accordingly, it is ORDERED that the deadline for filing the initial decision in these proceedings is extended to August 22, 2016. By the Commission. Brent J. Fields Secretary (…continued) Lawrence R. Lux, Administrative Proceedings Rulings Release No. 3470 (Jan. 6, 2016), available at http://www.sec.gov/alj/aljorders/2016/ap-3470.pdf (last visited Jan. 28, 2016).