SEC widens BofA/Merrill probe

SEC logoThe Securities and Exchange Commission is widening its probe of the Bank of American take-over Merrill Lynch to go beyond failing to disclose bonuses paid to Merrill employees to now include failure to disclose ML’s mounting losses.  Law Professor Elizabeth Nowicki, a former SEC and Wall Street attorney, says it’s about time.

The SEC’s expanding probe of Bank of America’s egregious disclosure failures regarding Merrill Lynch is shocking only in that it has taken the SEC so long to expand it. The BofA disclosure problems are so blatant that even an ill-informed law student could identify them.”

Contact Elizabeth Nowicki, 617-353-2807, enowicki@bu.edu

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