New York City finance officials singled out Fleet Securities Inc. for a special allocation of bonds during a recent sale, despite an ongoing city investigation of the firm and recent demotion from its co-manager slot, a city official and Wall Street sources confirm.

The city directed the senior manager of one deal, First Boston Corp., to allocate Fleet Securities, a member of the selling group, about $4 million of bonds, more than other selling group members and even some co-managers, according to city and Wall Street officials.

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