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Non-Tech : SWS - An undiscovered gem

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To: CRay33 who wrote ()	8/27/1999 11:54:00 AM
From: muddphudd	Read Replies (1) of 504

What do we make of this probe? BOSTON, Aug 26 (Reuters) - A Dallas clearing house that processes day trades said on Thursday it will "cooperate fully" with Massachusetts security regulators who have spearheaded a national crackdown on the day trading industry. "We always cooperate with our regulators," Jim Bowman, a spokesman for Southwest Securities Group Inc (NYSE: SWS) told Reuters. "We've got a very good record and we always cooperate fully." But "as far as I know we have not received that request yet," he added. The Massachusetts securities division asked for documents from Southwest and JB Oxford Holdings, Inc. (NASDAQ: JBOH) in Los Angeles an official told Reuters. "After looking so hard at the firms themselves, the logical next step is to go up the chain to the clearing houses," Massachusetts Secretary of State William Galvin told the Boston Globe. Another state official told the newspaper that regulators are not saying the clearing houses have done anything wrong.

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