Securities America Inc.

Washington - The National Association of Securities Dealers filed charges against the brokerage firm Securities America Inc. on behalf of a group of Exxon Mobil Corp. retirees alleging broker fraud. Securities America allegedly failed to supervise a broker who promised unrealistically high investment returns. The case charged the broker, David McFadden, with civil securities fraud. Securities America has agreed to pay a $2.5 million civil fine and return $13.8 million to the Exxon Mobil retirees. (Sep-14-06) [HEMSCOTT]

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