Two O.C. Brokers Barred, Third Suspended

The federal regulator of securities brokers said Friday that it has barred two Orange County stockbrokers from the industry and suspended a third for violating rules in their dealings with clients. The National Assn. of Securities Dealers barred Michael A. Furr of Lake Forest and Lance E. Van Alstyne of Laguna Niguel and suspended Jan Sanders of Lake Forest for a month. Furr also was fined $270,000 and ordered to pay $42,500 in restitution to a customer based on findings that he diverted $50,000 earmarked for investments to a bank account and then improperly used the funds. Van Alstyne was fined $95,000 based on findings that he managed a brokerage without registering as a principal of the firm and that he sold unregistered securities to the public. Sanders was suspended for 30 days and fined $29,240 for allegedly recommending securities that weren’t suitable for a customer.