Merrill Lynch Ex-Advisers Look to Pause Deferred Pay Litigation

Seven former financial advisers for Bank of America Corp.'s investment management unit are calling to pause a potential class action over allegedly forfeited commission-based compensation while they try to resolve their claims out of court.

The former Merrill Lynch advisers are seeking more than $2 million in arbitration overseen by the Financial Industry Regulatory Authority.

Merrill Lynch has attempted to halt the arbitration process by pointing to a pending federal lawsuit in which a proposed class of ex-advisers are seeking similar payments. The seven former financial advisers asked Judge Kenneth D. Bell of the US District Court for the Western ...