The New York Stock Exchange censured and levied hefty fines against Prudential-Bache Securities and Nomura Securities International for net capital and reserve account violations. The Big Board fined Prudential-Bache $750,000 and Nomura Securities $180,000. The firms consented to the findings without admitting or denying guilt.
The National Association of Securities Dealers levied a $650,000 fine against First Fidelity Capital and its president, Ted Lawrence Rubin, and permanently barred the firm from dealing with NASD for allegedly overcharging customers.
Greyhound Lines, which sought bankruptcy protection after a strike, filed a reorganization plan that transfers most of the company's value to creditors and keeps its routes operating.
Revised fraud charges were filed against Charles H. Keating Jr. by prosecutors hoping to salvage several charges they brought in the first criminal case against the former owner of Lincoln Savings and Loan. They filed 46 instead of 42 counts with more specific allegations.
Chrysler employees approved their new three-year labor contract reached with the United Auto Workers by 89 percent, tying up the last of three agreements with the Big Three automakers.
The Federal National Mortgage Association said it will purchase mortgages as large as $191,250 starting Jan. 1, up from a $187,450 ceiling this year.