NY Reaches Deals With Credit Suisse, Merrill Over ARS

By Christie Smythe

Law360, New York (July 07, 2009, 12:00 AM ET) -- Credit Suisse Securities LLC and Merrill Lynch & Co. have reached final settlements with New York Attorney General Andrew M. Cuomo following the office's investigation into the sale of auction rate securities in the months leading up to the collapse in the market.

According to the Assurances of Discontinuance released on Tuesday by the agency, both Credit Suisse and Merrill Lynch, which is now part of Bank of America Corp., have agreed to pay a combined $140 million in civil penalties, including nearly $25 million to...
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