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Article: Federal probes could roust Merrill from syndicate.((Merrill Lynch & Co., New York, NY bond underwriting syndicate))
- Article from:
- The Bond Buyer
- Article date:
- February 23, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New York City finance officials say they would be prepared to drop Merrill Lynch & Co. as a senior underwriter if federal investigators find that the firm has engaged in wrongdoing.
In October, the city appointed Merrill as one of four senior managers in its general obligation bond syndicate. Given that the city is one of the largest issuers of municipal debt, the slot is considered a premier underwriting assignment.
Since Merrill's selection, officials working for Mayor Rudolph W. Giuliani and city Comptroller Alan G. Hevesi say they have closely monitored investigations by the Securities and Exchange Commission and the Justice Department concerning Merrill ...