SECURITIES

SEC Probes Conversion Companies: Beta Well Service Inc. said the Securities and Exchange Commission has launched the informal investigation into it, its former parent Conversion Industries of Pasadena and related companies. Beta Well said it learned of the probe in an SEC letter dated Friday. The letter says the investigation is part of the commission’s routine program of enforcing securities laws and that Beta Well shouldn’t construe that any violations have occurred. The SEC asked Beta Well to hand over documents related to the sale of its securities, its overseas activities, information regarding reserves it set aside for uncollectible accounts, data valuing its assets and other matters. The American Stock Exchange recently began proceedings to delist Beta Well and Conversion shares because of unspecified disclosure problems.