Business

Bank of America's Merrill Lynch brokerage unit agreed to pay a $2.5 million fine in Massachusetts to settle charges that it failed to follow its own compliance rules, the state's top securities regulator said on Monday.

The UK's Financial Conduct Authority is to launch a market study on asset management to examine charges paid by investors, the regulator said on Tuesday, as it laid out its business plan for the coming year.

Honda Motor Co has hired Exponent, a U.S.-based engineering consulting company enlisted by Toyota Motor Corp during its recall crisis in 2010, to investigate the cause of ruptures in some air bags made by Takata Corp.