Violation Tracker Individual Record
: Banc of America Investment Services Inc.
Current Parent Company
: Bank of America
Parent at the Time of the Penalty AnnouncementPenalty
to see this data field
: February 13, 2007
: financial offenses
: anti-money-laundering deficiencies
: financial institution supervision failures
: NASD fined Banc of America Investment Services, Inc. $3 million for failing to obtain customer information for certain high-risk accounts and for failing to have adequate communication with its parent bank to ensure that suspicious activity report filing obligations were met.
Level of Government
: agency action
: Financial Industry Regulatory Authority
Civil or Criminal Case
HQ Country of Current Parent
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
Source of Data
: (click here)
: 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).
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Current parent company note
: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log