SECURITIES

NYSE Disciplines 3 Ex-Drexel Officials: The New York Stock Exchange censured three former senior officials at Drexel Burnham Lambert Inc. for inadequate supervision during a period when crimes were committed at the firm. Former Chairman and Chief Executive Robert E. Linton was also barred from associating with any NYSE-member securities firm for one year, and former Senior Executive Vice President Edwin Kantor was barred from a supervisory job for one year. Joseph A. Vitanza, a former Drexel president and chief administrative officer, was barred from the industry for 30 days. The punishments cover the period from 1984 to 1986 and center on a failure to supervise the actions of Drexel’s Beverly Hills junk bond department, which was run by Michael Milken.