* Two local stockbrokers have been disciplined...
* Two local stockbrokers have been disciplined and fined by the National Assn. of Securities Dealers, the organization that oversees the over-the-counter market.
Theron Hugh Murphy and Jay Lynn Murphy, who worked in the Calabasas branch office of Arizona-based Anchor National Financial Services, were censured and fined by the NASD after a dispute between the Murphy brothers and branch manager Henry William Abts III in 1990.
The NASD said Abts hired Jay Murphy as a sales assistant before Murphy had qualified for, or been registered with, the NASD to sell securities. It also said Theron Murphy had processed orders under his own name and distributed the commissions to his brother.
In the fall of 1990, the Murphys established an estate planning service that competed with a similar firm of Abts’. Complaints to the NASD by Abts, who said the Murphys took customer files with them, prompted the NASD to start the investigation.
Theron Murphy was suspended from the NASD for 30 days and fined $5,000. Jay Murphy received a 45-day suspension and $10,000 fine.
* Plasma and Materials Technologies Inc., a private Chatsworth maker of plasma equipment and plasma-control instruments for the semiconductor and thin-film manufacturing industries, named David J. Hemker director of research and development. The job is a newly created position. Hemker was formerly a member of the technical staff of Applied Materials in Santa Clara.
* Bradley G. Wetherell has resigned as president of Ventura County National Bank.
Richard S. Cupp, president and chief executive of the bank’s parent company, Ventura County National Bancorp, said Wetherell left to seek other opportunities. Cupp is also chief executive of the bank, and has been appointed by the bank’s board of directors to immediately fill the vacated position.
