Uh, unless I don't quite understand your question, this is just a simple update statement.
DECLARE @Commission_Soundex TABLE (
[SoundID] [int] IDENTITY (1, 1) NOT NULL ,
[Soundexe] [varchar] (50) NULL ,
[CompanyName] [varchar] (50) NULL ,
[LeftOn] [bit] NOT NULL DEFAULT (1),
[RightOn] [bit] NOT NULL DEFAULT (1),
[NotLike] [bit] NOT NULL DEFAULT (1),
[BothOff] [bit] NOT NULL DEFAULT (0)
)
INSERT INTO @Commission_Soundex (SoundExe, CompanyName, LeftOn, RightOn, NotLike, BothOff)
SELECT 'ABN', 'ABM Ambro Vancouver', 1, 1, 0, 0 UNION ALL
SELECT 'ABN', 'ABN_AMRO', 1, 1, 0, 0 UNION ALL
SELECT 'ACCENTU', 'Accenture', 1, 1, 0, 0 UNION ALL
SELECT 'AEGON', 'AEGON', 0, 0, 0, 1 UNION ALL
SELECT 'AG ED', 'AG Edwards', 1, 1, 0, 0 UNION ALL
SELECT 'AIC', 'AIC Limited', 0, 1, 0, 0 UNION ALL
SELECT 'AIG', 'AIG 2006', 0, 1, 0, 0 UNION ALL
SELECT 'TRIMA', 'AIM TRIMARK', 1, 1, 0, 0 UNION ALL
SELECT 'ALLIANCE CA', 'Alliance Capital Management', 1, 1, 0, 0 UNION ALL
SELECT 'ALLIANZ', 'Allianz', 0, 0, 0, 1 UNION ALL
SELECT 'ALLSTAT', 'Allstate Financial', 1, 1, 0, 0
SELECT * FROM @Commission_Soundex
UPDATE @Commission_Soundex
SET CompanyName = 'TRIMA'
WHERE CompanyName = 'AIM TRIMARK'
SELECT * FROM @Commission_Soundex