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Will repay: PaineWebber Inc. has agreed to repay $1.6 million to 100 customers due to improper stock recommendations by a former broker, the New York Stock Exchange said. The NYSE, as part of its regular enforcement actions, said PaineWebber repaid the customers as a result of erroneous investment advice from Alan Stewart Goldman of Santa Barbara, Calif. Goldman, 67, left PaineWebber Oct. 20, 1988, following four customer complaints, the NYSE reported.
