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Never Again, Spear Is Warned

Traders Magazine, December 2001

Peter Chapman

After being slapped with the largest fine in the history of the American Stock Exchange, Spear, Leeds & Kellogg is scrambling to clean up its floor act. On top of a $1 million judgement, Spear, Leeds has been ordered by the Amex to conduct a review of the supervision of its clearance and specialist operations on the floor. It must also adopt supervisory procedures for certain business units.

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