Merrill upgrades risk management system

Merrill Lynch has upgraded its risk management system with software provided by US-based SAS, the financial IT solutions firm.

The upgrade is tailored to comply with the US Sarbanes-Oxley Act which requires chief executives and chief financial officers of publicly listed companies on the New York Stock Exchange, the American Stock Exchange and Nasdaq, the electronic stock market, to certify the accuracy of corporate financial reports.

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