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Company: Merrill Lynch, Pierce, Fenner & Smith
Current Parent Company:
Bank of America
Parent at the Time of the Penalty Announcement:
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Penalty: $42,000,000
Year: 2018
Date: June 19, 2018
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Merrill Lynch, Pierce, Fenner & Smith agreed to pay a $42 million penalty to resolve allegations that it misled customers about how it handled their orders.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
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:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.
