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Securities Industry California

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BUSINESS
September 12, 1989 | ROBERT A. ROSENBLATT, Times Staff Writer
The Commodity Futures Trading Commission, filing the largest fraud suit in its 14-year history, on Monday accused two companies operating in California of using high-pressure tactics to earn massive commissions from customers who were suffering enormous losses. CFTC charged International Trading Group Ltd. of making misleading claims in the sale of futures options that produced $283 million in commissions for the firm but $428 million in losses for its customers.
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BUSINESS
July 1, 1999 | Bloomberg News
Among new and recent California public offerings Wednesday: * Camarillo-based Salem Communications Corp. (ticker: SALM), which operates religious radio stations, sold 8.4 million shares at $22.50, higher than the expected range of $19 to $21, in a deal led by Deutsche Banc Alex. Brown and ING Baring Furman Selz. Redwood City-based Clarent Corp. (CLRN), meanwhile, sold 4 million shares at $15, the top of its expected range, in a deal led by Credit Suisse First Boston. * Seminis Inc.
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BUSINESS
June 21, 1995 | SCOT J. PALTROW, TIMES STAFF WRITER
The California Department of Corporations said Tuesday that it plans to resume screening stockbrokers who do business in the state, a practice it abandoned to save money shortly after Proposition 13 passed. Maurice Cox, supervising examiner of the department's broker-dealer and investment adviser section, said screening is necessary because the securities industry has not been tough enough in cracking down on "rogue brokers" who cheat investors.
BUSINESS
June 24, 1999 | EDMUND SANDERS, TIMES STAFF WRITER
In one of its most aggressive crackdowns on insider trading in California, the Securities and Exchange Commission on Wednesday announced five enforcement actions against 11 people, including a rare criminal case filed against a former director of Koo Koo Roo Inc.
BUSINESS
June 28, 1996 | KATHY M. KRISTOF, TIMES STAFF WRITER
California could become a mecca for securities litigation if a November ballot initiative sponsored by plaintiffs' lawyers is approved by voters, according to a securities law expert. "It is difficult to overstate the importance of this November initiative," said Joseph A. Grundfest, a former commissioner for the Securities and Exchange Commission and a professor at Stanford University Law School. "If this passes, California will dominate securities litigation nationwide."
BUSINESS
September 19, 1997 | From a Times Staff Writer
The West Coast's only stock exchange says it plans to launch a new super-computer-driven trading system in 1998, as the battle for customer orders among the nation's exchanges and other trading networks continues to rage.
BUSINESS
August 5, 1992 | TOM PETRUNO
Investment advisers in the state of California face tough new rules governing the "fair, equitable and ethical" treatment of their investors. The regulations took effect June 11, but many financial planners and other independent money managers say they aren't aware of them. They'd better get aware, though: In its effort to protect individuals from investment fraud and abuse, the state has gotten very specific about what advisers must say and do where clients are concerned.
BUSINESS
July 1, 1999 | Bloomberg News
Among new and recent California public offerings Wednesday: * Camarillo-based Salem Communications Corp. (ticker: SALM), which operates religious radio stations, sold 8.4 million shares at $22.50, higher than the expected range of $19 to $21, in a deal led by Deutsche Banc Alex. Brown and ING Baring Furman Selz. Redwood City-based Clarent Corp. (CLRN), meanwhile, sold 4 million shares at $15, the top of its expected range, in a deal led by Credit Suisse First Boston. * Seminis Inc.
BUSINESS
March 14, 1997 | DEBORA VRANA, TIMES STAFF WRITER
They say timing is everything. And no one knows that better than a company trying to go public. Guitar Center Inc., the Agoura Hills retailer, successfully priced its first stock offering Thursday despite a stock market drop of 160 points just an hour earlier and in a climate where investors are increasingly cautious about investing in initial public offerings. "The IPO market has cooled from where it was," said John B.
BUSINESS
September 8, 1998 | Bloomberg News
The first computer-based U.S. futures exchange will take on the world's largest futures market today, becoming the latest challenger in a global shift to electronic networks from auction-based trading floors where traders shout orders. Cantor Fitzgerald will launch electronic trading in Treasury futures, a business now dominated by the Chicago Board of Trade. Pricing information from New York-based Cantor, the largest broker in the U.S.
BUSINESS
September 8, 1998 | Bloomberg News
The first computer-based U.S. futures exchange will take on the world's largest futures market today, becoming the latest challenger in a global shift to electronic networks from auction-based trading floors where traders shout orders. Cantor Fitzgerald will launch electronic trading in Treasury futures, a business now dominated by the Chicago Board of Trade. Pricing information from New York-based Cantor, the largest broker in the U.S.
BUSINESS
September 19, 1997 | From a Times Staff Writer
The West Coast's only stock exchange says it plans to launch a new super-computer-driven trading system in 1998, as the battle for customer orders among the nation's exchanges and other trading networks continues to rage.
BUSINESS
March 14, 1997 | DEBORA VRANA, TIMES STAFF WRITER
They say timing is everything. And no one knows that better than a company trying to go public. Guitar Center Inc., the Agoura Hills retailer, successfully priced its first stock offering Thursday despite a stock market drop of 160 points just an hour earlier and in a climate where investors are increasingly cautious about investing in initial public offerings. "The IPO market has cooled from where it was," said John B.
BUSINESS
June 28, 1996 | KATHY M. KRISTOF, TIMES STAFF WRITER
California could become a mecca for securities litigation if a November ballot initiative sponsored by plaintiffs' lawyers is approved by voters, according to a securities law expert. "It is difficult to overstate the importance of this November initiative," said Joseph A. Grundfest, a former commissioner for the Securities and Exchange Commission and a professor at Stanford University Law School. "If this passes, California will dominate securities litigation nationwide."
BUSINESS
June 21, 1995 | SCOT J. PALTROW, TIMES STAFF WRITER
The California Department of Corporations said Tuesday that it plans to resume screening stockbrokers who do business in the state, a practice it abandoned to save money shortly after Proposition 13 passed. Maurice Cox, supervising examiner of the department's broker-dealer and investment adviser section, said screening is necessary because the securities industry has not been tough enough in cracking down on "rogue brokers" who cheat investors.
BUSINESS
August 5, 1992 | TOM PETRUNO
Investment advisers in the state of California face tough new rules governing the "fair, equitable and ethical" treatment of their investors. The regulations took effect June 11, but many financial planners and other independent money managers say they aren't aware of them. They'd better get aware, though: In its effort to protect individuals from investment fraud and abuse, the state has gotten very specific about what advisers must say and do where clients are concerned.
BUSINESS
June 24, 1999 | EDMUND SANDERS, TIMES STAFF WRITER
In one of its most aggressive crackdowns on insider trading in California, the Securities and Exchange Commission on Wednesday announced five enforcement actions against 11 people, including a rare criminal case filed against a former director of Koo Koo Roo Inc.
BUSINESS
July 13, 1991 | VICTOR F. ZONANA, TIMES STAFF WRITER
In a sharp challenge to the globalization-minded New York Stock Exchange, San Francisco-based Montgomery Securities on Friday launched a rare effort to force the exchange to reverse its plan to open trading half an hour early. Montgomery, the largest institutional broker in the West, said the Big Board's decision to open trading at 9 a.m. Eastern time--6 a.m.
BUSINESS
July 13, 1991 | VICTOR F. ZONANA, TIMES STAFF WRITER
In a sharp challenge to the globalization-minded New York Stock Exchange, San Francisco-based Montgomery Securities on Friday launched a rare effort to force the exchange to reverse its plan to open trading half an hour early. Montgomery, the largest institutional broker in the West, said the Big Board's decision to open trading at 9 a.m. Eastern time--6 a.m.
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