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....
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