Settlement with regulators may cost Wall Street brokers $1.4bn in fines

WALL STREET’S biggest names are set to announce they have reached a deal with regulators over charges that they bamboozled investors during the boom years of the 1990s.

The settlement is expected to cost 10 brokerages $1.4bn in fines, while two of them Citigroup unit

Salomon Smith Barney (SSB) and Credit Suisse First Boston look likely to face fraud charges as well.