Saturday, June 08, 2002

Merrill Lynch revises rating system

The Associated Press

        NEW YORK — Investment bank Merrill Lynch on Friday announced plans for a new rating system for stocks, intended to be easier for investors to use. Its research analysts would be paid according to a new performance-based system.

        The changes were required under an agreement reached last month with New York's attorney general, who accused the company's analysts of misleading investors. Merrill Lynch must stop rewarding its 800 analysts for helping the firm win investment banking fees for arranging mergers and new stock offerings.


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- Merrill Lynch revises rating system
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