Merrill Lynch Confirms SEC Subprime Probe

Law360, New York (November 8, 2007, 12:00 AM EST) -- A week after a rumor that the U.S. Securities and Exchange Commission had launched an investigation into Merrill Lynch & Co. spread through Wall Street, the investment bank has confirmed the probe.

In a quarterly filing with the SEC submitted on Nov. 7, Merrill Lynch confirmed that regulators had begun an inquiry into its subprime lending practices.

“On Oct. 24, 2007, the SEC staff initiated an inquiry into matters related to Merrill Lynch’s subprime mortgage portfolio. Merrill Lynch is cooperating fully with the SEC in this...
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