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Business Briefing / Securities

Merrill probes irregularities

March 07, 2009|TIMES WIRE SERVICES

Merrill Lynch & Co. said it is examining some irregularities in London trading accounts and has informed regulators, but believes the risk of possible losses is "under control."

The company disclosed it was investigating trading after the New York Times reported that a London-based foreign exchange trader lost more than $120 million while others may have lost hundreds of millions more on derivatives trading.

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