WASHINGTON -- The Securities and Exchange Commission is pulling out all its enforcement guns in the agency's case against FSG Financial Services Inc., the Beverly Hills, Calif., securities firm it shut down last week for allegedly selling nonexistent municipal bonds, SEC officials said yesterday.

Lori Richards, assistant administrator of the SEC's Los Angeles regional office, said the agency will use a new federal law that gives the SEC authority to seek monetary penalties -- amounting to as much as three times investors' total losses -- against a firm and its officers for violations of the federal securities laws.

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