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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Securities Group Fines Laguna Niguel Man

February 27, 2001|Dow Jones

A Laguna Niguel man was among a group of firms and individuals disciplined by NASD Regulation Inc., the regulatory arm of the National Assn. of Securities Dealers in Washington, for alleged violations of NASD rules and securities laws.

Craig Carter Fronk was fined $10,000 and suspended from association with any NASD member for 30 days for permitting an individual to manage a securities business without being registered as a securities principal.

Fronk also was ordered to pay $35,000 to a customer for making untrue statements and failing to disclose facts in connection with the customer's purchases of securities.

NASD also found that Fronk recommended the purchase of securities without having reasonable grounds for believing that such recommendations were suitable for the customer.

A dozen other California individuals and two firms also were among those disciplined.

The firms and the individuals, including Fronk, had no comment or couldn't be reached for comment.

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