Federal Judge blocks Bank of America-SEC Settlement

NEW YORK - A judge is refusing to allow Bank of America (BoA) to settle with US regulators over charges it misled investors about Merrill Lynch's bonus payments. The planned settlement between BoA and the Securities and Exchange Commission (SEC) was blocked on August 4 by federal district judge Jed Rakoff, who said he needed a "much more detailed account of the underlying facts" of how the £33 million settlement figure was agreed. The case centres on a regulatory filing made by BoA ahea

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