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SEC's Thinking Still A Mystery After Merrill Lynch Megadeal

By Carmen Germaine (June 23, 2016, 10:49 PM EDT) -- While the U.S. Securities and Exchange Commission secured a massive fine and a rare admission of wrongdoing from Merrill Lynch on Thursday for misusing customer cash, experts said the case shows the agency's metrics for calculating penalties are still opaque and it remains unclear exactly how the agency decides to seek an admission of guilt....

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