Massachusetts Suing Merrill Over Securities
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The stateâs top securities regulator filed a civil complaint against the brokerage, accusing it of selling unsuitable subprime mortgage-related securities to the city of Springfield.
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Merrill Lynch & Co Inc  faces a $1.5 billion third-quarter loss on its fixed-income business, driven by $4 billion in asset write-downs connected to leveraged loans and mortgages, a Goldman Sachs analyst said on Wednesday.
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BOSTON -- Actions by Bank of America after its acquisition of Fleet Boston Financial Corp. have caught the attention of the state treasurer, who has threatened to withdraw some state funds, and the Romney
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In today&#39;s fines, Merrill Lynch &amp; Co. was hit with the second largest, at US$1.6 million, followed by American Express Financial Advisors, at $700,000.
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New York&#39;s attorney general sued the nation&#39;s leading insurance brokerage yesterday, accusing brokers of taking payoffs to steer clients to insurance companies that were not necessarily offering the lowest prices for their policies.
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Two Franklin Templeton Investments units will pay $5 million to settle a Massachusetts complaint alleging the firm allowed a big hedge fund investor to make inappropriate mutual fund trades.
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NEW YORK - State Street Corp. , the largest US money manager for institutions, was sued by Unisystems Inc. for investing bond funds in high-risk mortgage-backed securities, at least the second such lawsuit filed by a client this month.
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The Securities and Exchange Commission is investigating matters related to Merrill Lynch & Co Inc's  subprime mortgage portfolio, the company said on Wednesday.
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The US Chamber of Commerce filed suit Thursday against the Securities and Exchange Commission over the independent-chair rule for mutual fund boards.
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A senior banker who claimed she was victimised by her bosses yesterday won her legal action for unfair dismissal against the American investment bank Merrill Lynch.
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Massachusetts Secretary of State William F. Galvin yesterday charged a unit of Bear Stearns Cos. with engaging in improper trading activities at two collapsed hedge funds, the first action by regulators following the funds' meltdown over the summer.
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Connecticut Attorney General Richard Blumenthal yesterday sued insurance brokerage giant Marsh &amp; McLennan Inc. and a unit of the Bermuda-based ACE Ltd. insurance company for alleged illegal commissions in connection with an $80 million state contract.
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Securities regulators sued two former  financial advisers at Morgan Stanley  on Friday for  defrauding at least 50 mutual fund companies and their  shareholders.
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By Liz Kowalczyk and Andrew Caffrey, Globe Staff | November 14, 2004. The Massachusetts attorney general&#39;s office is investigating the state&#39;s health insurance industry over lucrative commissions offered brokers
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Federal prosecutors have asked the Securities and Exchange Commission for information gathered from an investigation of Merrill Lynch &amp; Co's  activities in mortgage securities, The Wall Street Journal reported on Friday.
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SEC may take civil action against the bank&#39;s brokerage unit on improper mutual fund trading charges. NEW YORK  - Wachovia Corp.
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California filed a lawsuit yesterday accusing the brokerage house Edward D. Jones &amp; Co. of accepting $300 million in improper payments to push its clients toward certain mutual funds.