UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 50128 / July 30, 2004

ADMINISTRATIVE PROCEEDING
File No. 3-11569

I.

The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Jason H. Pollak ("Pollak" or "Respondent").

II.

In anticipation of the institution of these proceedings, the Respondent has submitted an Offer of Settlement ("Offer"), which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission's jurisdiction over the Respondent and the subject matter of these proceedings, and the findings contained in Section III.4 below, which are admitted, Respondent consents to the entry of this Order Instituting Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions ("Order"), as set forth below.

III.

On the basis of this Order and Respondent's Offer, the Commission finds that:

1. Respondent was a registered representative with Josephthal Lyon & Ross, Inc. ("Josephthal") from February 1992 to December 1993, and Westfield Financial Corp. ("Westfield") from December 1993 to November 1994. Josephthal and Westfield were broker-dealers registered with the Commission during the period of Respondent's association.

2. From at least 1996 through 1997, Respondent was a principal with Tiger Eye Capital, LLC ("Tiger Eye"), then a Uniondale, New York business entity operating as an unregistered broker-dealer engaged in, among other things, the effecting of transactions in securities for the account of others.

3. Pollak engaged in an offering of a penny stock when he indirectly sold the securities of TSI Environmental, Inc. ("TSI") to public investors through nominee accounts. TSI was a penny stock within the meaning of Exchange Act Sections 3(a)(51) and 15(g) and Rules promulgated thereunder.

4. On April 29, 1998, in a criminal action before the Supreme Court of the State of New York, County of New York, Respondent was convicted of one count of a Class C felony of attempted enterprise corruption pursuant to a plea of guilty, and on December 18, 2002, Respondent was sentenced to five years probation. In his allocution, Respondent admitted to having been part of a group that engaged in a pattern of criminal activity for the purpose of selling and distributing securities, including the securities of TSI, in an illegal manner. (See People v. Pollak., Ind. No. SCI 3376/98, 98N039610.)

IV.

In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions specified in Respondent Pollak's Offer.

Accordingly, it is hereby ORDERED:

A. Pursuant to Section 15(b)(6) of the Exchange Act, Respondent Pollak be, and hereby is, barred from association with any broker or dealer.

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 self-regulatory 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.

B. Pursuant to Section 15(b)(6) of the Exchange Act, Respondent Pollak be, and hereby is, barred from participating in any offering of a penny stock, including: (i) acting as a promoter, finder, consultant, agent, or other person who engages in activities with a broker, dealer or issuer for purposes of issuance of trading in any penny stock; or (ii) inducing or attempting to induce the purchase or sale of any penny stock.

By the Commission.

http://www.sec.gov/litigation/admin/34-50128.htm