SECURITIES

Civil Charges Against Ex-trader: The Securities and Exchange Commission will soon bring civil fraud charges against Joseph Jett, the former Kidder Peabody trader accused of creating $350 million in phantom profits, the New York Times reported. The action is the first by a government agency since Kidder disclosed the trading in April 1994. It could result in sanctions of as much as $100,000 against Jett, the giving up of hundreds of thousands of dollars of bonuses, and his disbarment from the securities industry, the newspaper reported. Some considered the action mild considering the scope of the scandal. The U.S. attorney is still investigating.