SEC Again Defends $33M Deal Over Merrill Bonuses

Law360, New York (September 9, 2009, 6:17 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday lobbied a federal judge for the second time for approval of a $33 million settlement over disclosure of bonuses Bank of America Corp. paid to Merrill Lynch & Co. Inc., arguing that the deal takes full account of the seriousness of the violation and the need for deterrence.

The regulator urged Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York to sign off on the settlement, calling it “fair, reasonable, adequate...
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