The Securities and Exchange Commission on Wednesday said that it had fined a former board member of the Florida Housing Finance Agency $10,000 for failing to disclose money he took to help select Stephens Inc. for the agency's bond business.

William Jay Ramsey also agreed to an injunction prohibiting him from further violations of certain federal securities laws, including anti-fraud provisions, and to reimburse $2,190-the sum he took from Stephens, plus interest-to the Florida agency.

This is one of several recent actions brought by the SEC involving "pay- to-play" practices, an area it has "been focusing on and aggressively pursuing," said Kathleen Hamm, an assistant director in the division of enforcement.

Mr. Ramsey did not admit or deny the allegations, which date from early 1995. The SEC settled its claims against Stephens, a Little Rock, Ark., brokerage firm, last November. A Stephens spokesman was unavailable to comment.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.