interest in that account. As mentioned above, the interpretation of § 11(a) and Rule lla-l(a) the SEC applied here — that a member has an interest in an account for purposes of those provisions where the member shares in the economic risk of trades in the account— has been articulated in prior SEC Exchange Act Releases dealing with conduct remarkably similar to Levine’s. In In re New York Stock Exchange, 70 SEC Docket 106, Exchange Act Release No. 34-41574, 1999 WL 430863 (June 29, 1999), the SEC held that “any compensation arrangement that results in the exchange member sharing in the trading performance of an account, however structured, makes the account that member’s ‘own account,’ or constitutes an ‘interest’ in the account, for purposes of Section 11(a) and Rule lla-1.” Id. at *3 (<HOLDING>). The SEC proceeded to hold individual brokers
holding that the state as well as the defendant has a right to rely on compliance with rule 16 holding that the united states may bring suit against a state to enforce compliance with federal law holding that  105 authorizes bankruptcy courts to impose sanctions for civil contempt to compel compliance with a court order or compensate parties for losses caused by noncompliance holding that the nyse failed to enforce compliance with  11a and rule llala by failing to oversee properly the conduct of independent brokers who were being compensated based on a percentage of their accounts trading profits or losses holding that civil contempt is designed to coerce the defendant into compliance with the courts order or  compensate the complainant for losses sustained