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Latest Business News

SEC Tells NYSE to Rethink Ban on Ex-Broker

Friday, December 02, 2005 11:49:00 AM

WASHINGTON (AP) - The Securities and Exchange Commission has ordered the New York Stock Exchange to rethink its decision to ban for five years a former CIBC World Markets Inc. broker who allegedly tried to fill a prescription for the painkiller Vicodin using a forged signature.

The NYSE had censured Paul K. Grassi Jr. and barred him for five years from membership and employment with any NYSE member or member firm.

Grassi, who had chronic back pain, had allegedly seen a doctor at Comprehensive Health Services Inc., a group that serves NYSE members, and discovered that a blank prescription form was attached to the form already filled out by the doctor.


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