Financial Services Industry
Industry: Email Alert RSS FeedMerrill Lynch revamps its research.
Financial News, June, 2002
Merrill Lynch, in the wake of its settlement with New York State Attorney General Eliot Spitzer, announced changes in its stock-research process, including a new three-tier rating system for stocks and new performance-based compensation methods for research analysts. Merrill said the rating system, which it plans to implement in September, will provide clients with stock recommendations based on projections of total return and risk. The compensation system, which the company said is effective immediately, 'will provide further incentives for analysts to aspire to superior performance for the benefit of investors,' Merrill said.
What is new for Merrill is the rating system in which stocks will be rated as 'buy,' 'neutral' or 'sell.' Merrill in early May said it...
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