The SEC on Monday defended its decision not to charge individuals in Bank of America’s alleged failure to disclose bonuses paid to Merrill Lynch employees before the companies merged, blaming the omission largely on attorneys. The SEC was forced to defend its decision after a New York federal judge declined to approve a $33m settlement in the matter between the SEC and BofA, saying he wanted to know why civil charges were not brought against individuals.

This entry was posted by Gwen Robinson on Tuesday, August 25th, 2009 at 4:52 and is filed under Capital markets, People. Tagged with BofA, merrill lynch, sec. Edit this entry.