These stem from a two-year federal investigation of insider trading and securities fraud on Wall Street.  Ohio, the District of Columbia, Tennessee and Illinois have been less resistant to Drexel than the other six states, but nonetheless have refused to settle so far, say those familiar with the discussions.
any of its state brokerage licenses will be revoked
Drexel says it doesn't expect any of its state brokerage licenses will be revoked, and even if some are, its securities business wouldn't be directly hurt.
These stem from a two-year federal investigation of insider trading and securities fraud on Wall Street.  Ohio, the District of Columbia, Tennessee and Illinois have been less resistant to Drexel than the other six states, but nonetheless have refused to settle so far, say those familiar with the discussions.</s>Drexel says it doesn't expect any of its state brokerage licenses will be revoked, and even if some are, its securities business wouldn't be directly hurt.</s>any of its state brokerage licenses will be revoked