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Merrill Lynch Reveals Equity Accounting Error

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MERRILL Lynch, the US-based investment bank, has confirmed reports that it is working to correct "unreconciled balances" at its equity derivatives trading operation in London.

A spokesperson for the investment bank says the event is a purely in-house accounting matter. "No clients have been disadvantaged and there will be no financial impact on Merrill Lynch," says the spokesperson.

The accounting errors occurred while the bank was moving its London equity derivatives balance sheets from

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