Rooney Pace is ending stock brokerage operations.
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The New York-based investment firm, which has closed numerous branch offices since mid-1984 amid large losses stemming from poor expense controls and other problems in its brokerage operations, said it will seek new business opportunities in related fields. The company said all customers’ securities and funds are held by Bear, Stearns & Co., so they need not worry about the safety of their accounts.
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