The Financial Industry Regulatory Authority censured and fined four firms $59,500 for municipal and other securities rules violations, including $27,500 against Dallas-based WFG Investments Inc., for allegedly buying and selling municipal securities at unfair and unreasonable prices for its accounts.

WFG Investments, and the other firms - Stoever Glass & Co., based in New York City, Piper Jaffray & Co., in Minneapolis, and Great Pacific Fixed Income Securities Inc. in Costa Mesa, Calif. - neither admitted nor denied any wrongdoing.

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