SEC Announces $131.8 Million Settlement With Merrill Lynch

SEC Announces $131.8 Million Settlement With Merrill Lynch

WASHINGTON, D.C. - The Securities and Exchange Commission on Dec. 12 announced that Merrill Lynch, Pierce, Fenner & Smith Inc. has agreed to pay $131.8 million to settle claims that it made "faulty disclosures about collateral selection for two collateralized debt obligations (CDOs) that it structured and marketed to investors, and [maintained] inaccurate books and records for a third CDO" in violation of federal securities laws (In the Matter of Merrill Lynch, Pierce, Fenner & Smith Inc., No. 3-15642, SEC).

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