California censured and fined E. F. Hutton.

Corporations Commissioner Franklin Tom said the brokerage firm will pay $25,000 for the state’s cost of investigation as a result of the cash management transactions that led to Hutton’s guilty plea May 2, 1985, to 2,000 counts of federal mail and wire fraud. Hutton consented to the California administrative sanctions. They include reporting every three months for two years on actions it has taken to implement its 1985 guilty plea agreement, the recommendations of a Hutton-commissioned investigation by former U.S. Atty. Gen. Griffin Bell.