According to reports, the bank has agreed to pay the amount, subject to authorisation by the SEC, without admitting or denying any wrongdoing.
The SEC investigation, which was examining two transactions between Merrill Lynch and Enron in 1999, would then be concluded.
The payment would be made up of disgorgement, penalties and interest and would be recorded in its fourth quarter 2002 results.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements