The investment banking unit of the former NationsBank Corp. has been censured and fined by the National Association of Securities Dealers' regulatory arm.

NationsBanc Montgomery Securities LLC was fined $15,000 and required to pay $968.75 in damages to customers for failing to use "reasonable diligence" in securing the best price execution on securities during a four-day period that ended July 14, 1997. The firm also violated certain supervisory rules, the NASD said Tuesday. NationsBanc Montgomery did not admit liability.

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