SECURITIES

Insider Trading Indictment Upheld: A federal judge refused to throw out the insider trading indictment against Dr. Robert H. Willis, a New York psychiatrist who allegedly played the stock market based on information obtained from patient Joan Weill, the wife of financier Sanford I. Weill. Willis pleaded guilty to two counts of securities fraud in June, 1990, but was permitted to withdraw the plea so the judge could consider his motion to dismiss the indictment because of a recent appeals court decision. Willis is accused of making $27,000 trading in BankAmerica shares.