PracticeAuditMerrill Lynch to pay $80m over Enron dealings

Merrill Lynch to pay $80m over Enron dealings

US regulators yesterday ended their investigation into Merrill Lynch's dealings with failed energy trader Enron.

The Securities and Exchange Commission has fined the investment bank $80m (£51m) for ‘false and misleading’ statements relating to deals in 1999. The bank agreed with the settlement in principle last month.

The SEC has also charged Merrill Lynch four of its directors with ‘aiding and abetting’ securities fraud by Enron, The Times reported today. The four directors, Robert Furst Schuyler Telney, Daniel Bayly and Thomas Davis, are contesting the charge.

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