Finance: ARBITRATION

TABLE: PUNITIVE AWARDS AT MAJOR RETAIL FIRMS

MAY 1989-DEC. 1993*

NUMBER $ MILLIONS

PRUDENTIAL SECURITIES 22 $5.7

SHEARSON LEHMAN 27 3.2

PAINEWEBBER 9 2.6

MERRILL LYNCH 6 2.1

DEAN WITTER REYNOLDS 14 2.1

BEAR STEARNS 4 1.2

RAYMOND JAMES 5 .4

KIDDER PEABODY 4 .3

* Latest available data

DATA: SECURITIES ARBITRATION COMMENTATOR

RAY VELLA/BW