WASHINGTON - Guy P. Riordan, a broker with First Union Securities and Wachovia Securities LLC in Albuquerque who retired in 2007, has been barred from the securities industry and ordered to pay or disgorge a total of $2.2 million for giving cash kickbacks to former New Mexico Treasurer Michael Montoya in return for obtaining state investment business from 1999 through 2002.

The sanctions were ordered by Brenda P. Murray, the Securities and Exchange Commission's chief administrative law judge, in a 31-page initial decision that concluded Riordan's actions violated securities fraud laws.

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