Massachusetts regulators also accused her of withdrawing $15 million from company-related accounts shortly before he confessed.

The second power purchase agreement with state utility NStar for 27.5 percent of the output has also been approved by Massachusetts regulators.

On December 7, Massachusetts regulators had taken action against three more compounding pharmacies following unannounced inspections.

The Massachusetts regulator said that he, too, would continue to pursue a case against Putnam.

Late last year, the Massachusetts regulators threatened to effectively shut down three of the homes if improvements were not made.

The agreement was reached under the auspices of Massachusetts regulators at the Division of Insurance.

Thus a legal challenge to the Florida statute is likely, but advocates of the new law say they are in a much stronger position than the Massachusetts regulators.

Massachusetts regulators reportedly have recommended that the New York State attorney general prosecute the firm for the activities of its research analysts.

"When people receive 10 to 20 cents on the dollar, they are not happy," said Mr. Guthary, the Massachusetts regulator.

The case was the sixth that Massachusetts regulators have filed against day-trading firms.