N.H. nets $660k in Merrill Lynch settlement

New Hampshire will receive $660,560 as part of a $26.5 million national settlement with investment firm Merrill Lynch resolving issues of improperly licensed sales associates, the state Securities Bureau said.New Hampshire was part of a multi-state taskforce investigation that began in 2008 that included Arizona, Colorado, Delaware, Missouri, Texas and Vermont that found “sales assistants that entered orders for brokers were not properly licensed,” said Jeffrey Spill, deputy director in charge of enforcement.Spill said the funds will be used to pay for investor education programs, with a portion also going to the state’s general fund.Merrill Lynch merged with Bank of America Corp. in 2009, and is now a wholly-owned subsidiary. – CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW

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