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clipped from money.cnn.com

Regulators raid Wachovia Securities

CHARLOTTE, N.C. (AP) -- Securities regulators from several U.S. states on Thursday raided the St. Louis headquarters of Wachovia Securities, seeking documents and records on the company's sales practices.

Wachovia Securities has not fully complied with these requests, prompting Thursday's onsite inspection, Missouri officials said.

However, a Wachovia spokeswoman said, "Most securities firms, including Wachovia, are responding to inquiries from regulators about the auction-rate securities industry."

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