SECURITIES

Kidder Allows Ex-Trader to Continue Trading: Bond trader Joseph Jett was fired by Kidder Peabody more than 15 months ago for allegedly concocting $350 million in phony trading profits to mask big bond losses, but that hasn’t stopped him from continuing to trade securities at a Kidder account--and earning more than $100,000 on his transactions, Jett’s lawyer said. Until recently, Jett was trading stocks on about $1 million in personal account assets, even though the brokerage account was frozen by Kidder, Peabody & Co. shortly after his dismissal in April, 1994. Jett’s moneymaking stock trades were first reported in the Wall Street Journal. The latest twist in the bond-trading scandal came to light after Kidder earlier this month informed Jett he could no longer trade in his account. Kenneth Warner, Jett’s lawyer, demanded in court papers that Kidder allow Jett to do so again. A state judge later issued a temporary order barring Kidder from liquidating or confiscating assets in Jett’s account, according to Warner. The arbitration claims by Kidder and Jett have yet to be heard.