The Ticker

Merrill Lynch fined $250G

Merrill Lynch has been fined $250,000 in connection with improperly selling more than $39 million in unregistered securities, including auction-rate securities to two Massachusetts cooperative banks in violation of federal law, Secretary of the Commonwealth William F. Galvin said.

According to Galvin's complaint, the securities were sold by a Boston branch of Merrill Lynch that did not follow procedures for determining if the banks were qualified and failed to train its personnel on its own policies and procedures

Winthrop Square garage to close

The Boston Redevelopment Authority will close the Winthrop Square Parking Garage indefinitely at midnight after identifying infrastructure issues with the 240 Devonshire St. facility. No vehicles will be allowed to enter the garage after 3 p.m.

THE SHUFFLE

L Acella Construction Corp. of Norwell has promoted Ryan Klebes, left, to the position of senior project manager. Klebes first joined the company in 2003 as a project manager, and was previously an assistant project manager at Lee Kennedy Construction in Boston.

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