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Violation Tracker Individual Record

Company: Merrill Lynch, Pierce, Fenner & Smith Incorporated
Current Parent Company: Bank of America
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $250,000
Year: 2004
Date: July 19, 2004
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: NASD announced today that it has censured and fined Citigroup Global Markets, Inc. (formerly Salomon Smith Barney); Merrill Lynch, Pierce, Fenner & Smith Incorporated; and Morgan Stanley DW Inc. $250,000 each for failing to comply with their discovery obligations in 20 arbitration cases during the period 2002 through 2004.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.