SECURITIES

Michael Milken to Testify: The once-powerful junk bond dealer is scheduled to testify for the defense Monday in the federal securities law trial of Victor and Steven Posner, the Securities and Exchange Commission and a court clerk said. The SEC sued Victor and son Steven, charging them with violating securities laws by participating in two corporate takeover schemes with Milken and investor Ivan Boesky. The SEC is seeking to bar the Posners from holding positions as directors or officers in any public company, as well as forfeiture of $4 million in salaries they received while at Fischbach Corp., a company the Posners attempted to acquire. The trial is under way in U.S. District Court in Manhattan.