Ohio state securities regulators have given Putnam, Lovell, de Guardiola & Thornton Inc. a broker-dealer license two years after the company sold securities in the state without one.

The license was granted on the condition that the San Francisco-based company offer to undo 17 securities transactions which occurred from Aug. 20, 1997, through March 20, 1998, according to a cease-and-desist order from the Ohio Division of Securities that was made public last week. No penalty was imposed.

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