OTHER NEWS - Feb. 25, 1993

Japanese Firms Reportedly Settle SEC Charges: Three big Japanese brokerages agreed to pay fines of up to $600,000 and settle SEC charges that they kept shoddy records of trades and personnel, sources familiar with the matter said. The three firms--Daiwa, Nomura Securities International Inc. and Yamaichi International (America) Inc.--have agreed to pay fines ranging from about $100,000 to $600,000, said the sources, who requested anonymity. The enforcement actions--which, among other things, resolve Daiwa Securities America Inc.’s role in the Salomon Bros. bond auction scandal--are believed to be the first brought by the SEC against Japanese financial institutions. The SEC approved the settlements at a closed meeting Monday.