SECURITIES

Arizona County OKs Settlement With SEC: Maricopa County, Ariz., supervisors approved the proposed settlement with the Securities and Exchange Commission over charges of securities fraud in connection with $48 million in bonds. The SEC has alleged that Maricopa County violated the anti-fraud provisions of federal securities laws in connection with the July 1993 sale of two series of general obligation bonds by failing to disclose that county finances had deteriorated. Separately, SEC officials said they have settled securities fraud charges against financial advisor Peacock, Hislop, Staley & Given Inc. over the county bonds. As part of the settlement, the Phoenix-based firm agreed to pay $50,000 in fines; partner Larry Given agreed to $25,000 in fines. Neither admitted nor denied the SEC’s findings. Under the county’s settlement, the county agreed not to violate securities laws in the future, but it neither admitted nor denied the allegations.