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Merrill Lynch Ex-Analyst for Tyco and Honeywell Fined and Suspended
The NASD levied a $225,000 fine and suspended Phua Young for one year. Young had covered Tyco International and Honeywell International for Merrill Lynch, issuing misleading research reports.
Young's research recommended that investors buy both companies while, at the same time, he privately expressed negative views.
Source: New York Times, May 26, 2004
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