Brokerage clients told to stave signing agreement

Marsh & McLennan Cos. Inc. clients were recently advised by Massachusetts Attorney General Thomas F. Reilly to wait until they accept restitution from the Marsh & McLennan in accordance with its $850 million settlement with New York Attorney General Eliot Spitzer.
Reilly, in association with a group of attorneys general, is investigating allegations against Marsh and other brokers. In lieu of these investigations, clients are advised to contemplate the settlement agreement and hold off agreeing before the Sept. 20 deadline, as signing will waive various rights.
In May 2005, the brokerage company sent 135,000 clients initial letters highlighting restitution amounts.
These letters were sent in response to the January agreement to pay clients an aggregate $850 million to settle charges regarding harm incurred as a result of said contingent commissions investigated by Spitzer.