Merrill Lynch pays out over bonds

Press Association
photo of dollar bills
photo of dollar bills

Merrill Lynch has agreed to pay 131.8 million dollars (£81m) to settle US civil charges that it misled investors about risky mortgage bonds it sold ahead of the 2008 financial crisis.

The Securities and Exchange Commission announced the settlement after Merrill Lynch was accused of marketing the investments with misleading materials in 2006 and 2007.