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Non-Tech : J.B. Oxford -- Ignore unavailable to you. Want to Upgrade?

To: Zack P who wrote (510)	2/3/1999 6:16:00 PM
From: Sir Auric Goldfinger	Respond to of 2220

J.B. Oxford Says it Expects to 'Resolve' SEC Probe Basel, Sept. 3 (Bloomberg) -- J.B. Oxford & Co., the Swiss branch of the Beverly Hills-based discount brokerage, said it is cooperating with a Securities and Exchange Commission probe of the company's role in alleged stock manipulation and expects to ''resolve'' it. ''It is the company's understanding that U.S. officials are inquiring about a limited number of transactions,'' said Oxford in its first official statement since FBI agents and Swiss police seized documents from its Basel offices Aug. 19. ''The company is cooperating with the inquiry and expects to resolve it.'' Oxford, which offers investors low brokerage commissions to buy and sell U.S. stock, is being investigated for its role in alleged stock manipulation by the SEC, Swiss officials said Aug. 20. The Basel branch charges $35 per trade on orders of up to 2,000 shares and $15 per trade on the Internet. That's a fraction of the cost of broker fees at banks in Switzerland like Merrill Lynch Bank (Switzerland) S.A., which charge about 1.5 percent commission on trades of U.S. stock. Basel-based Oeri Finance, Inc., which is owned by Oxford's chairman, Felix Oeri, has filed an objection with Swiss police for confiscating documents from its offices, said Tom Green, Oeri's lawyer. ''They (the documents) have no relation to the subject matter of the investigation,'' Green said. J.B. Oxford & Co. said it had withdrawn its objection to the confiscation of Oxford documents ''as a result of a review of the type of documents collected.'' Oxford's Oeri told Bloomberg News Aug. 20, the raids in California and Switzerland were part of an SEC probe into ''transactions in 1995 and 1996,'' and had nothing to do with Internet trading. Oxford shares rose to $1 from $31/32. The shares were $1 11/32 before the raids. --Sarah Knight in the Zurich newsroom (411) 224 4111/mn/js Story illustration: to graph Oxford shares' recent performance, type JBOH US <Equity> GIP. Company news: News by category: JBOH US <Equity> CN JB Oxford