Bunhill: Blast revisited

BLAST . . . Part Two. In 1990, AJ Bekhor, once one of the biggest private client stockbrokers in Britain and the employer of an army of 'half commission' men, went into receivership. Jonathan Bekhor, the firm's senior partner, went to live in San Diego, California, where he founded a new firm, Bekhor Securities Corporation.

He has not wasted much time in exciting the attention of the powers that be in the US. I hear the National Association of Securities Dealers, the self-regulatory body answerable to the SEC, has rapped his knuckles for breaches of their rules.

He has been censured and fined dollars 10,000 (pounds 6,600) and his firm, trading as First Affiliated Securities, has also been censured and fined up to dollars 42,000. The penalty centred on an earlier failure to meet an arbitration award. If he paid the award, the fine was to be reduced.