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To: Larry S. who wrote (18417)1/11/1999 3:02:00 PM
From: Iceberg  Read Replies (2) | Respond to of 53068
 
Chat: NASDAQ News, FYI...

Filed at 2:51 p.m. EST

By The Associated Press

excerpt:

WASHINGTON (AP) -- Federal regulators announced today they are fining 28 Wall Street firms a total of more than $26 million for alleged price-rigging on the Nasdaq Stock Market, in an industrywide settlement closing a five-year-old landmark case.

The Securities and Exchange Commission has been negotiating the settlement with the brokerage firms for months. The agreement involves many of Wall Street's biggest names -- including PaineWebber Inc., which was fined $6.3 million; J.P. Morgan & Co., fined $1.27 million and ordered to repay $42,218 in allegedly illegal profits; Salomon Smith Barney Inc., fined $995,000 and ordered to repay $27,988; Morgan Stanley Dean Witter & Co., fined $350,000 and ordered to repay $4,170; Lehman Brothers Inc., fined $212,500; and Merrill Lynch & Co., fined $472,500.

Reference:

nytimes.com

Ice

P.S. Easy Ron, I'm not trying to beat this subject to death, just passing along information. I won't bring this subject up any more, I promise.