Merrill Lynch is to pay USD500,000 to settle US Commodity Futures Trading Commission (CFTC) charges that it failed to distribute and file its commodity pools’ annual reports in a timely ma
Merrill Lynch is to pay USD500,000 to settle US Commodity Futures Trading Commission (CFTC) charges that it failed to distribute and file its commodity pools’ annual reports in a timely manner.
THE US CFTC announced on Tuesday that settlement had been reached with Merrill Lynch Investment Managers LLC and Merrill Lynch Alternative Investments LLC, both of Plainsboro, NJ. According to the CFTC’s order, beginning in 2001 and continuing through at least 2005, MLIM and MLAI repeatedly failed to distribute to pool participants and file with the National Futures Association (NFA) their commodity pools annual reports in a timely manner, in violation of a CFTC regulation.
Neither of Merrill’s units admitted or denied the allegations and have agreed to pay their total of USD500,000 within 10 days.
