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Microcap & Penny Stocks : DGIV-A-HOLICS...FAMILY CHIT CHAT ONLY!! -- Ignore unavailable to you. Want to Upgrade?

To: bullmarket who wrote (17541)	7/9/1998 7:38:00 AM
From: Ronaldo	Read Replies (1) \| Respond to of 50264

Good Morning Bull: just saw the following article, and I think we can help too.. Thursday July 9, 4:06 am Eastern Time US SEC prepares charges against Wall Street - WSJ NEW YORK, July 9 (Reuters) - The U.S. Securities and Exchange Commission has told Wall Street securities firms that it is preparing civil charges against more than 100 traders and nearly three dozen firms in connection with alleged price manipulation on the Nasdaq Stock Market, the Wall Street Journal reported Thursday. In conjunction with that move, the nearly three dozen Wall Street securities firms have begun preliminary discussions with the SEC as part of an effort to reach an industry-wide settlement over disciplinary cases stemming from trading violations on Nasdaq, people familiar with the situation say. The SEC's case is an outgrowth of a two-year investigation that the SEC and Justice Department launched in 1994 into Nasdaq dealers. The probe yielded thousands of hours of taped conversations between Nasdaq traders upon which the SEC has built its cases, people familiar with the situation say. The settlement talks, if successful, are likely to result in Wall Street forking over its first set of fines to settle regulators' allegations of trading violations on the Nasdaq market. Among the firms that the SEC has held settlement discussions with are Merrill Lynch & Co., the biggest U.S. brokerage firm; Morgan Stanley Dean Witter & Co.; PaineWebber Inc.; UBS Securities Inc., a unit of Union Bank of Switzerland; and Charles Schwab & Co.'s Mayer & Schweitzer Inc. unit, the paper reported.