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Merrill Lynch Inks Tentative Deal With SEC Over ARS

Law360 (August 25, 2008, 12:00 AM EDT) -- Just one day after inking a multibillion-dollar settlement with state securities regulators, Merrill Lynch & Co. Inc. has reached a similar agreement with the U.S. Securities and Exchange Commission to settle allegations that it misrepresented the liquidity of auction rate securities to investors.

On Friday, Merrill Lynch reached a preliminary settlement with the SEC to buy back ARS in a move that would enable investors, small businesses and charities that purchased ARS from the financial services firm prior to the February collapse of the ARS market...
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