SECURITIES

Ex-Broker Pays $2.6 Million to SEC: In a deal with the Securities and Exchange Commission, Clement W. McLaughlin Jr., 57, of Tarrytown, N.Y., has agreed to repay $1.9 million and pay a $690,000 fine after the SEC charged that he swindled more than $1.9 million since 1986 from 18 clients while working at Merrill Lynch, Shearson Lehman Hutton and Concord Group of Princeton Ltd. McLaughlin had claimed that he was investing the money in a company called Brunswick Asset Management. Instead, he spent it on a home, two cars, vacations, private school tuition and gambling debts, the SEC said.