Review Of BofA Disclosures Is Under Way: SEC

Law360, New York (April 14, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission is examining whether Bank of America Corp. ran afoul of securities laws by not disclosing Merrill Lynch & Co.'s bonus plans before shareholders voted to approve the merger of the two financial firms, according to a letter the agency sent to Rep. Dennis Kucinich, D-Ohio.

SEC Chairwoman Mary Schapiro confirmed in a letter to Kucinich on Friday that the agency was “carefully reviewing the Bank of America disclosure at this time.” Kucinich posted the letter on his Web site Tuesday....
To view the full article, register now.