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The firm has settled with the SEC over allegations that it misled clients and caused them to overpay for non-agency, residential mortgage-backed securities.
Merrill Lynch, Pierce, Fenner & Smith Inc. is settling with the SEC over the regulator’s charges that traders and salespeople of the firm misled customers, causing them to overpay for non-agency, residential mortgage-backed securities (RMBS) from 2009 to 2012. “Without admitting or denying the findings, Merrill Lynch agreed to be censured, pay a penalty of...
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