SEC Eyes Merrill Lynch Over Pension Fund Conflict

Law360 (December 2, 2005, 12:00 AM EST) -- Merrill Lynch & Co. has been roped into the wide-ranging investigation of alleged conflicts of interest in the pension fund consulting industry, after receiving a subpoena from the Securities and Exchange Commission.

The subpoena relates to one of Merrill Lynch’s Florida-based units that advises public pension funds on which money managers to choose, according to The New York Times, which first reported the news.

The SEC has been conducting an industry-wide examination of possible conflicts of interest in the pension-consulting business. In May, the regulatory agency...
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