NEW YORK, May 20 /PRNewswire/ -- Merrill Lynch (NYSE: MER) today issued
the following statement:
The allegations made public today by the CFTC are without merit, and the
company intends to defend itself in this matter.
Merrill Lynch had no knowledge that the conduct of Sumitomo, one of the
world's largest companies, was unlawful and Merrill Lynch had no intention to
render assistance to any conduct that was improper.
The business transactions that occurred more than three years ago between
Merrill Lynch and Sumitomo, including copper trading and position financing,
were conducted in a commercially reasonable fashion and were fully visible to
the regulators at the time.
Merrill Lynch fully cooperated with the CFTC's three-year investigation of
this matter. Merrill Lynch is extremely disappointed that despite the
substantial factual record developed, the Commission has decided to institute
this proceeding.
SOURCE Merrill Lynch & Co., Inc.
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Related links:
http://www.merrilllynch.com
Company News On-Call:
http://www.prnewswire.com/comp/555800.html or fax,
800-758-5804, ext. 555800
CONTACT:
James R. Wiggins, 212-449-7280, or Bill
Halldin, 212-449-7284, both of Merrill Lynch
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