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FINDINGS OF FACT
Some facts have been stipulated and are so found. The
stipulation of facts, with accompanying exhibits, is incorporated
herein by this reference.
At the time of the petition, petitioners resided in Amawalk,
New York.
Employment and Discharge of Petitioner Andrew S. Brenner by
Nomura Securities International, Inc.
Petitioner Andrew S. Brenner (petitioner) was an employee of
Nomura Securities International, Inc. (Nomura), from August 1987
until his termination from service by Nomura in May 1996. At
Nomura, petitioner traded Government and Government agency
securities and, by 1996, he had been promoted to managing
director and head governmental trader.
On April 15, 1996, Nomura advised petitioner that a review
of his positions in various securities revealed discrepancies in
his marking of the value of assets under his control. Nomura
advised petitioner to retain counsel, which he did. On May 22,
1996, Nomura terminated petitioner’s employment for alleged
mismarking or misvaluing of securities. As a result of that
termination and Nomura’s allegation that he had mismarked
securities, Nomura was required by Federal Law to file, and did
file, a Uniform Termination Notice (Form U-5) with both the New
York Stock Exchange (NYSE) and the National Association of
Securities Dealers (NASD).
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