SECURITIES
From Times Staff and Wire Reports
NYSE Fines Shearson: The New York Stock Exchange has fined Shearson Lehman Bros. $750,000 for violating securities sales rules and for lax supervision of one of its Manhattan offices. The fine is one of the NYSE’s largest ever. Shearson, a subsidiary of American Express Co., agreed to the fines without admitting guilt. “The procedures and practices referred to in the agreement occurred five years ago,” said Steve Faigen, a Shearson spokesman.
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