SEC Fines O.C. Investment Advisor

The Securities and Exchange Commission said it has fined Newport Beach investment advisor William J. Ferry, 55, a civil penalty of $5,000 for allegedly reporting misleading fund performance on the Internet and misstating the amount of money he had under management. Specifically, in July 1997, Ferry said in SEC filings that he had $160 million under management when in fact he had less than $7 million, the SEC said. He also stated in SEC filings that he had never declared personal bankruptcy, when in fact he did in 1994. Ferry could not be reached for comment.