Bioelectronics Corp (BIEL)

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DOW JONES NEWSWIRES Jesup & Lamont Inc. (JLI) said it is taking steps to remedy its securities subsidiary's capital deficiency and regain permission to restart transactions after the Financial Industry Regulatory Authority said it had to stop.

Shares of the small investment bank and brokerage firm recently were down 21% at 17 cents. The stock is off 62% this year.

The company said Monday it received a notice Friday that it was out of compliance with a Securities and Exchange Commission capital rule and the securities business was limited to liquidations. Jesup & Lamont added that it is seeking to show it has complied with the orders and hopes to resolve the issue soon.

The firm reported last month its revenue rose 58% but a first-quarter loss widened slightly on one-time expenses related to its proposed merger with New York merchant bank Tri-Artisan Partners LLC.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481; [e-mail];