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The New York attorney general is investigating Merrill and other firms for conflicts of interest among analysts.
Morgan Stanley and other Wall Street companies are responding to criticism from the Securities and Exchange Commission and Congress about conflicts of interest among analysts.
At a news briefing to announce the order he had obtained, Mr. Spitzer laid out some of the evidence his office accumulated regarding Merrill in a 10-month investigation into conflicts of interest among analysts on Wall Street.
Many of them, including The New York Times, already have guidelines for informing readers about conflicts of interest among analysts; they object not to the disclosure but to the government's intrusion into their decision making.
The Securities and Exchange Commission, among others, has found that conflicts of interest among analysts run deep and wide, and that many have been shills for their investment banking departments.
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On Wednesday, Mr. Pitt, the S.E.C. chairman, proposed new rules to limit conflicts of interest among stock analysts.
The regulators discovered that the firms were not complying with the rules during their investigation into possible conflicts of interest among stock analysts.
Goldman, like most other Wall Street firms, is being investigated by state and federal authorities for conflicts of interest among stock analysts.
The agency began an inquiry into possible conflicts of interest among stock analysts last month, after the New York State attorney general, Eliot L. Spitzer, began an investigation.
A1 Analysts' Missing E-Mails Some Wall Street firms are said to have told securities regulators investigating possible conflicts of interest among stock analysts that they have not retained e-mail messages as required by law.
Salomon Smith Barney, one of the nation's largest brokerage firms and a Citigroup subsidiary, recently agreed to pay $350 million in fines to settle the investigation brought by securities regulators into conflicts of interest among research analysts on Wall Street.
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