A three member panel at the NASD, which regulates the nation's securities dealers, has awarded $22 million to a group of Exxon retirees who have claimed that between 1996 and 2003 they were inappropriately steered towards high-risk investment choices by brokerage firm Securities America Inc. This would be one of the largest fees ever awarded in such circumstances. Securities America plans to appeal the ruling.

For more background on the case, click here.

- MDT