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SEC charges Merrill Lynch for failure to supervise RMBS traders

Securities and Exchange Commission Building

The Securities and Exchange Commission Tuesday announced that Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $15 million to settle charges that its employees misled customers into overpaying for Residential Mortgage Backed Securities (RMBS). Merrill Lynch agreed to repay more than $10.5 million to its customers and to pay penalties of approximately $5.2 million.

Invesco Perpetual hits back in trust bust-up

Boxing Gloves

The war of words between Invesco Perpetual and an investment trust it manages reached a new pitch Monday with the fund manager taking aim at the “overly aggressive” negotiation style of the trust’s board.

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Securities and Exchange Commission Building

SEC charges Merrill Lynch for failure to supervise RMBS traders

The Securities and Exchange Commission Tuesday announced that Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $15 million to settle charges that its employees misled customers into overpaying for Residential Mortgage Backed Securities (RMBS). Merrill Lynch agreed to repay more than $10.5 million to its customers and to pay penalties of approximately $5.2 million.

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