Merrill Lynch & Co. has agreed to pay $25 million to U.S. and U.K. regulators to settle charges that the brokerage assisted Sumitomo Corp. in a copper trading scheme in the mid-1990s.

Merrill said Wednesday that it will pay the Commodity Futures Trading Commission $15 million and the London Metal Exchange 6.5 million pounds, or about $10 million. The investment banking firm did not admit or deny wrongdoing.

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