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To: TFF who started this subject	5/7/2002 6:30:08 PM
From: TFF	of 12617

Merrill Lynch Reaches Framework of Probe Settlement, CNBC Says New York, May 7 (Bloomberg) -- Merrill Lynch & Co. and New York Attorney General Eliot Spitzer agreed on a ``framework'' to settle the probe into Merrill's research practices, financial news network CNBC reported, citing the Wall Street Journal. The settlement makes it unlikely that Spitzer will seek civil or criminal charges against the firm, CNBC said. Spitzer rescheduled a hearing on the matter to May 16 from Thursday, CNBC said. Merrill is at the center of Spitzer's investigation of Wall Street firms. The Securities and Exchange Commission, the New York Stock Exchange and the National Association of Securities Dealers are investigating research practices on Wall Street.

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