A state may suspend or revoke Hutton's license.

Connecticut has scheduled hearings next month on whether to review E. F. Hutton's registration to do business in the state because of the investment firm's conviction on federal fraud charges. The company said it will cooperate fully with Connecticut officials. A hearing is set for July 9. Hutton pleaded guilty to 2,000 counts of mail and wire fraud in a scheme to obtain interest-free funds from hundreds of banks between 1980 and 1982 and agreed to pay $2.75 million in criminal fines and prosecution costs.

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