SECURITIES

Regulators Fine Citicorp Unit $25,000: Citicorp Securities Inc. was also ordered to pay $300,000 for allowing 19 brokers to work without completing new industry education requirements. NASD Regulation Inc., an industry policing group, said Citicorp Securities failed to ensure that the brokers completed continuing education requirements between November 1995 and May 1996. Because the courses weren’t completed, the brokers’ registrations were classified as inactive, but New York-based Citicorp permitted them to continue working, said NASD Regulation, the enforcement arm of the National Assn. of Securities Dealers. The penalty is the largest the regulator has levied against a firm for violating new broker education requirements approved by the Securities and Exchange Commission last summer. “Citicorp Securities Inc. has strengthened its procedures to ensure that continuing education requirements are met in a timely fashion going forward,” the bank said.