There is a new cloud over Nynex Corp, the New York and New England phone company with the news that the US Securities & Exchange Commission has charged the former head of Nynex subsidiary Disc Inc with insider trading in connection with the takeover in 1990 of Stockholder Systems Inc: it is alleged that Albert Harris used his inside knowledge of Nynex’s intention to make a profit of $36,250 on Stockholder shares, and also of telling his brother in law of the takeover, enabling him to make a $2,925 profit; the Commission wants the Manhattan Federal Court to order Mr Harris to pay in all the profits and to pay $117,525 in additional penalties; Mr Harris was president of Disc until January this year.