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Non-Tech : Bank of America

BAC 55.88

+1.1%

Dec 22 4:00 PM EST

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From: Sr K	9/22/2012 2:29:53 AM
	of 4366

BUSINESS \| September 21, 2012, 9:59 p.m. ET BofA Unit Said to Lose Millions on Options Error By JACOB BUNGE Bank of America Merrill Lynch on Friday sustained a loss approaching $10 million because of an error handling a controversial type of stock-option trading, according to people with knowledge of the issue. An operational error within the banking group's Merrill Pro unit was behind the problem, these people said, though clients of the business weren't affected. The error has since been corrected, they said. Bank of America Merrill Lynch is a division of Bank of America Corp. The error was seen tied to "dividend trades" that have stirred controversy in the options industry in recent years, according to traders. . online.wsj.com

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