Merrill settles with futures commission

Merrill Lynch will pay $500,000 to settle charges that it failed to distribute and file its commodity pools’ annual reports in a timely manner.
The U.S. Commodity Futures Trading Commission today announced the settlement with Merrill Lynch Investment Managers LLC and Merrill Lynch Alternative Investments LLC, both of Plainsboro, N.J.
From 2001 to 2005, the two companies violated the CFTC’s rules by missing deadlines to file their annual reports with the National Futures Association.
Both companies also failed to give pool participants the reports, which would “provide participants wit the information necessary to assess the overall trading performance and financial condition of the pool.”
Neither of Merrill’s units admitted or denied the allegations and have agreed to pay their total of $500,000 within 10 days.