The Securities and Exchange Commissionsaid it will hold a public hearing against Martin Saposnick,
who was a co-underwriter of a 1983 public offering of North
Atlantic Airlines Inc.
    The SEC claims that Saposnick, chairman of Marsan
Securities Co Inc, knew the offering prspectus failed to
adequately disclose the company's delinquent federal and state
taxes and its inability to pay debts when due.
    No specific date was set. The SEC said the hearing will
determine whether Saposnick misrepresented compliance with
NASDAQ and if so, will determine remedial action.
 Reuter
