The SEC and the NASD are likely to announce a settlement with 15 securities firms today worth a total of $20 million in settlement charges, The Wall Street Journal reports this morning.

Raymond James, Legg Mason, Wachovia, American Express, Linsco Private Ledger and HD Vest are among the firms to be charged jointly by the SEC and the NASD.

Separately, the NASD is expected to charge eight other companies. The report is based on unnamed sources.


The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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