The SEC order prohibiting Robert John Hipple, "for

The SEC order prohibiting Robert John Hipple, "for a period of five years, from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act, or that is required to file reports pursuant to Section 15(d) of the Exchange Act" was issued on March 11, 2010.   






In view of the forgoing, the Commission deems it necessary and appropriate in the public
interest to impose the sanctions agreed to in Respondent Hipple’s Offer.

Accordingly, it is hereby ORDERED, effective immediately, that:

A.  Hipple shall cease and desist from committing or causing any violations and any future violations of  Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5, 13b2-1, 13b2-2, and 13a-14 thereunder, and Sections 34(b) and 57(a) of the Investment Company Act, and from causing any violations of and any futureviolations of Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and Rules 12b-20, 13a-11, and 13a-13 thereunder and Section 31(a) of the Investment Company Act and Rule 31a-1 thereunder;

B.  Pursuant to Section 21C(f) of the Exchange Act, Hipple is prohibited, for a period of five years, from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act, or that is required to file reports pursuant to Section 15(d) of the Exchange Act;

C.  Pursuant to Section 9(b) of the Investment Company Act, Respondent Hipple is  prohibited from serving or acting as an employee, officer, director, member of an advisory board, investment adviser or depositor of, or principal underwriter for, a registered investment company or affiliated person of such investment adviser, depositor, or principal underwriter, with the right to reapply for association after five (5) years to the appropriate self-regulatory organization, or if  there is none, to the Commission;

D.  Pursuant to Rule 102(e)(1)(iii) of the Commission’s Rules of Practice, Hipple is
denied the privilege of appearing or practicing before the Commission as an accountant;

E.  The Division of Enforcement ("Division") may, at any time following the entry of
this Order, petition the Commission to: (1) reopen this matter to consider whether Respondent
provided accurate and complete financial information at the time such representations were
made; and (2) seek an order directing payment of the maximum civil penalty allowable under the  law.  No other issue shall be considered in connection with this petition other than whether the financial information provided by Respondent was fraudulent, misleading, inaccurate, or
incomplete in any material respect. Respondent may not, by way of defense to any such petition: (1) contest the findings in this Order; (2) assert that payment of a penalty should not be ordered;  (3)contest the imposition of the maximum penalty allowable under the law; or (4) assert any defense to liability or remedy, including, but not limited to, any statute of limitations defense; and

F. Any reapplication for association by the Respondent will be subject to the  applicable laws and regulations governing the reentry process, and reentry may be conditioned  upon a number of factors, including, but not limited to, the satisfaction of any or all of the  following:  (a) any disgorgement ordered against the Respondent, whether or not the  Commission has fully or partially waived payment of such disgorgement; (b) any arbitration  award related to the conduct that served as the basis for the Commission order; (c) any selfregulatory organization arbitration award to a customer, whether or not related to the conduct  that served as the basis for the Commission order; and (d) any restitution order by a self-regulatory organization, whether or not related to the conduct that served as the basis for the

Commission order.