Delaware's securities commissioner confirmed yesterday that he has suspended the license of Blinder, Robinson & Co. of Colorado from acting as a broker-dealer for two years, beginning July 18. Meanwhile, First Jersey Securities Inc. and its Atlanta branch manager have agreed to pay $97,500 in penalties and cost reimbursements, concluding a state investigation into alleged securities violations.

Donald Bruton, Delaware's securities commissioner, took the action without proving that Blinder, Robinson had broken Delaware law.

Bruton's order follows public hearings in February and March, and he said in a statement that he based his suspension on a similar order issued by the Securities and Exchange Commission last December. Under Delaware law, Bruton can take action against a registered broker-dealer based on rulings in other states.

He said the company failed to disclose information relating to disciplinary actions in Colorado and Wisconsin as required by law.

The company is active in 40 states and has annual sales of more than $1.5 billion.

In the state probe of First Jersey, Georgia Secretary of State Max Cleland yesterday said that the consent order signed by branch manager Matthew Wochele and the New York-based stock brokerage firm places the company under probation for two years in Georgia.

In addition, the company may not sell securities not listed on the major stock exchanges or through the National Association of Securities Dealers Automated Quotation system. The firm previously specialized in trading securities of small companies not traded through the Nasdaq.

The consent order ended an 18-month investigation into alleged securities violations. Last September, Cleland said he planned to revoke the firm's license in Georgia because it failed to "exercise diligent supervision over its securities salesmen" and had committed "willful violations" of several securities laws.