Finally! An arbitration panel ruled that Merrill Lynch must pay more than $10 million to two brokers who claimed the firm committed fraud by denying their deferred compensation plans to vest.
In a decision that sharply criticized Merrill for, among other things, "discovery abuses and delay tactics," the Financial Industry Regulatory Authority arbitration panel found that the firm wrongly denied compensation to former brokers Meri Ramazio and Tamara Smolchek.
The panel said that Merrill's senior management, "intentionally, willfully ...
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