SECURITIES

Jett’s Former Boss Suspended: Edward Cerullo, the former supervisor of Kidder Peabody & Co. bond trader Joseph Jett, received a one-year suspension from the New York Stock Exchange for his role in the bond scandal. The yearlong ban prevents Cerullo, 46, from acting as a supervisor for an NYSE member firm. It’s similar to the one-year supervisory ban Cerullo received in a settlement with the Securities and Exchange Commission last month. The charges in the NYSE case arise from Jett’s dismissal in April 1994, when Kidder accused him of a scheme to concoct $350 million in phony bond profits to inflate his bonus and another to mask $100 million in losses. Cerullo, who neither admitted nor denied the New York Stock Exchange charges, was accused of failing to supervise Jett, who denies any wrongdoing.