Mr Tilney had been placed on administrative leave in July for failing to testify to before a Senate subcommittee about Enron's collapse.
BBC: Merrill fires two execs with Enron links
"Mr. Tilney did not do anything improper, " he said.
"There are no new facts, and Merrill Lynch has been consistent in stating that it's not aware of any evidence that its employees acted improperly in their dealings with Enron, " said Mr Tilney's lawyer, Robert Trout.
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