Merrill Lynch (MER) plunged 9% to a 52-week low after The Wall Street Journal reported the brokerage firm could face regulatory scrutiny of its asset-valuation practices.The Journal reported that the firm has drawn the eye of the Securities and Exchange Commission with a reported deal to sell $1 billion in troubled mortgage-related securities to a hedge fund. That kind of transaction wouldn't normally concern regulators -- except that Merrill has agreed to potentially buy the securities back in a year at a set price, the Journal reported.
Probe Talk Pounds Merrill
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