Injunction Settles SEC Suit Over Late Filings

Joel M. Barry, chairman of Agoura-based Electronic Clearing House Inc., agreed Aug. 21 to an injunction barring him from making late filings concerning stock ownership.

The Securities and Exchange Commission had charged that Barry violated securities laws by repeatedly being late in filing disclosures about his holdings of stock in the company, which provides check and credit card clearing services.

Barry did not admit or deny the charges in agreeing to the settlement.

The SEC suit also charged Anaheim-based Basics Financial Planning and Investments Inc. with making late filings concerning its holdings in Electronic Clearing House. Barry owns a 36% stake in Basics and is its president.

The suit claims that Barry and Basics filed about 30 various disclosures later than they were due.

The injunction bars Barry and Basics from further violations like the ones alleged.