
Merrill Lynch agreed to pay a $1 million fine, $500,000 to the Connecticut Department of Education, $1.5 million to its foundation for promotion of financial literacy, and $500,000 to the National White Collar Crime Center, in settlement of allegations it failed to supervise its agents, allowing them to engage in Market Timing, a prohibited practice of trading in mutual funds to exploit pricing inefficiencies. For more info visit https://portal.ct.gov/DOB/Enforcement/Securities-Orders-2/Merrill-Lynch---2006-Consent-Order