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FOREIGN EXCHANGE

Florida Office for Financial Regulation: Ouch! Merrill gets it

 

If being handed a £2.45 million fine by the FSA was painful for Barclays, it probably felt lucky it was not dealt with by the Florida Office for Financial Regulation, if a report carried by Securities Industry News was anything to go by. “Merrill Lynch latest to be fined in ongoing ARS probe,” screamed one of its headlines, which suggests that punishment in Florida for financial misdemeanours is being taking to the extreme. I just wonder if the regulator will ever get to the bottom of it.

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