Hiznay -- In a third administrative Order, the Commission found
that Paul Hiznay, a former Accounting Manager at CUC's largest
division, aided and abetted violations of the periodic reporting
provisions of the federal securities laws, in connection with
actions that he took at the direction of his superiors at CUC.
Among other things, the Commission alleges that Hiznay made
unsupported journal entries that Pember had directed.
Simultaneous with the institution of the administrative
proceeding, and without admitting or denying the findings
contained therein, Hiznay consented to the issuance of the
Commission Order, which orders him to cease and desist from
future violations of the provisions.