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ORANGE COUNTY BRIEFLY

NASD Fines Broker $95,000

June 20, 1998|Patrice Apodaca

The National Assn. of Securities Dealers has fined a Laguna Niguel broker $95,000 and barred him from associating with any of its members. The NASD said it levied the sanctions after finding that Lance E. Van Alstyne managed the securities business of a member firm without the proper registration. Van Alstyne, 31, also sold unregistered securities and failed to respond to its requests for information and to appear for an interview, the NASD said. From September 1993 until June 1995, Van Alstyne was director of the Orange County office of Merchant Banking Services Inc., a former NASD member, the association said. His failure to respond to the complaint against him constituted an admission of the allegations, it said. Van Alstyne, who also has addresses on record in Dana Point and Boston, has appealed.

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