NEW YORK: Bank of America Corp, the second largest US banking company, has revised its code of ethics after settling investigations into its mutual fund unit and buying FleetBoston Financial Corp, a securities filing shows.
The changes include a ban on improper mutual fund trading, including market timing and “late trading” They also include the creation of a toll-free hotline operated by an independent third party to ensure anonymity for employees wishing to report concerns or complaints.
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