SECURITIES
From Times Staff and Wire Reports
Former Keating Associate Settles SEC Charges: Robert J. Kielty, a former associate to Charles H. Keating Jr. settled charges with the Securities and Exchange Commission alleging fraud connected to the failed Lincoln Savings & Loan Assn. In an administrative proceeding, the SEC said Kielty, former general counsel and senior vice president at American Continental, Lincoln’s parent company, agreed to a cease and desist order barring further violations. Kielty neither admitted nor denied the charges. The SEC said the proceeding stems from Kielty’s alleged involvement with American Continental’s failure to disclose material information and thus cause false and inadequate disclosures on the company.
