Fine Proposed for Drexel’s Spanish Unit: Spain’s...

Fine Proposed for Drexel’s Spanish Unit: Spain’s National Securities Commission has recommended the Spanish unit of Drexel Burnham Lambert Inc. be fined the maximum amount for fraudulent trading practices. The watchdog agency recommended that DBL Capital Markets Espana SA be fined $556,725 (65 million pesetas ) or five times the amount of the operation’s gross profits, which is the maximum fine under law. The Spanish branch of the U.S. securities firm was liquidated in June.