Sunday, May 7, 2006

NASD Fines Merrill Lynch Over Call Center Problems

This past March, the NASD hit Merrill with a $5 million fine for alleged violations at the firm's two Financial Advisory Centers from 2001 to 2004. The call centers also have been prohibited from holding sales contests for three years after Merrill was found to have violated the NASD rule against giving noncash sales incentives.
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