The Chicago Options Board disciplined 4 brokers.

All four have agreed to the sanctions without admitting or denying that exchange rules had been violated, Chicago Board Options Exchange officials said. The four are: Philip Buswell, a former representative of E. F. Hutton & Co. accused of misappropriating funds from at least 10 public customer accounts, who was permanently barred from associating with any exchange member; David Drozda, another former E. F. Hutton representative, who was suspended for one year; Michael Frazin, a former options exchange member, who was fined $10,000 and suspended for 30 days, and Charles E. Safford, a former Paine Webber Inc. representative, who was suspended for five business days.