She said he had been desperate to avoid a driving ban after being caught speeding because he feared it would damage his chances of becoming a prospective Parliamentary candidate in Eastleigh, Hampshire.

BBC: Constance Briscoe

From the advisers' prospective, "I really don't think it will do much damage to the Merrill Lynch brand, " Mr. Kostoff said.

WSJ: FUND TRACK: Merrill Is Launching