Advertisement

A closed bond dealer’s accounts were moved.

Customer accounts at Coastal Securities, a Century City-based municipal bond broker ordered shut by a federal judge earlier this month, were transferred to BOCL Securities, also of Century City. The court, acting on a complaint from the SEC, closed Coastal because of inadequate capital and alleged fraud by its two top executives. BOCL Securities, another independent municipal bond broker-dealer, received permission late last week from the court and Securities Investor Protection to take over the Coastal accounts.


Advertisement