The SEC censured Prudential-Bache Securities.

The agency took the action in connection with activities at two of Bache’s Southeastern offices and disciplined four present or former employees. The brokerage firm and the four individuals consented to the SEC action without admitting or denying guilt. In essence, the SEC said the firm was remiss in not having in place adequate safeguards to make sure that laws and its own company rules were being followed during the 1982 and 1983 period. The most serious charge was aimed at Sam Kalil Jr., a former assistant manager of the firm’s Jacksonville, Fla., office, who was accused of diverting about $2 million from certain customer accounts to other accounts and engaging “in unauthorized, unsuitable and excessive trading.”