SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.

INVESTMENT ADVISERS ACT OF 1940
Release No. 1861 / March 14, 2000

Administrative Proceeding File No. 3-10155

SEC INSTITUTES ADMINISTRATIVE PROCEEDINGS AGAINST CONNECTICUT INVESTMENT ADVISER BASED UPON HIS CONVICTIONS FOR LARCENY AND FORGERY

The Securities and Exchange Commission today instituted public administrative proceedings against Brian T. Lenihan, a Connecticut investment adviser. Lenihan did business under the name "Lenihan Investments," an advisory firm located in Fairfield County, Connecticut. In the order instituting administrative proceedings, the Division of Enforcement alleges that on July 18, 1999 in proceedings before the Stamford/Norwalk Connecticut Superior Court, Lenihan plead guilty to: three counts of larceny in the first degree, one count of forgery in the third degree, one count of engaging in a scheme to defraud investment clients and one count of failing to make proper disclosures with regard to investment clients. The Division further alleges that the state charges related to Lenihan's theft of over $75,000 from four of his advisory clients and Lenihan's forgery of a client's signature.

A hearing will be held before an administrative law judge to determine if these allegations are true and, if so, what, if any, sanction is appropriate in the public interest.

The Commission thanks the Connecticut Chief State's Attorney's Office and the Connecticut Department of Banking for their assistance in this matter.