NEW YORK — Merrill Lynch & Co. on Thursday fired a top official at its London office who was accused of participating in a $4-million inside-trading scheme.
The Securities and Exchange Commission charged in a civil complaint filed here Wednesday that Nahum Vaskevitch, director of mergers and acquisitions for Merrill Lynch in London, gave an investor confidential information involving 12 companies over a two-year period.
It said in a statement that Vaskevitch was dismissed after he "failed to provide Merrill Lynch with a satisfactory explanation of the SEC allegations."
Vaskevitch, 36, who began working for Merrill Lynch in London in 1981, was suspended after the complaint was filed.
Patricia Nee, a Merrill Lynch spokeswoman in New York, said the company has been cooperating with the SEC for several months and did not benefit from any illegal trading.