NEW YORK: Merrill Lynch took a step toward rehabilitating itsreputation by agreeing to a settlement with New York Attorney GeneralEliot Spitzer in his probe of the firm's research practices. During hisinvestigation, Spitzer released a series of damaging internal e-mails inwhich Merrill analysts were privately disparaging stocks they werepublicly recommending.
The settlement requires the US' largest brokerage firm to pay a $100 million fine and take steps to separate its analysts from theinfluence of its investment banking division - a move that ...