SECURITIES

SEC Charges Former A.R. Baron Brokers With Fraud: Seven people formerly with the bankrupt brokerage firm were charged with securities law violations, with three brokers accused of manipulating two small stocks and their bosses accused of failing to supervise them. The Securities and Exchange Commission filed an administrative case that alleges illegal manipulation of Health Professionals Inc. and Cypros Pharmaceutical Corp. at various times between 1991 and 1995. The SEC declined to say how much customers may have lost in the scheme. Earlier this year, the SEC filed a cease-and-desist order against New York-based A.R. Baron & Co. that charged the firm with fraudulent sales practices in the sale of more than $17 million in securities. Baron later sought Chapter 11 bankruptcy protection and is now under liquidation. Last month, the SEC reached settlements with five others charged with manipulating trading of Health Professionals.