Bank One unit to pay NASD fine

NASD Regulation fined Bank One Corp.'s Banc One Capital Marketsunit $1.8 million for inaccurate bookkeeping, Banc One said today.

Banc One, the capital markets arm of Chicago-based Bank One,agreed to pay the fine to settle the charges. It said it wouldneither admit nor deny the allegations.

NASD Regulation is the regulatory arm of the National Associationof Securities Dealers. It said Banc One operated from February 1999through August 1999 without a reliable accounting system.

In 1999, the company moved to convert to computerized securitiesprocessing and accounting software. The move caused discrepanciesbetween the account balances in Banc One's general ledger …