Violation Tracker Individual Record

Company: 
Bank of America
Current Parent Company: 
Bank of America
Penalty: 
$150,000,000
Year: 
2010
Date: 
February 11, 2010
Primary Offense: 
investor protection violation
Violation Description: 

The Securities and Exchange Commission announced that Bank of America agreed to pay $150 million to settle SEC charges that the company failed to properly disclose employee bonuses and financial losses at Merrill Lynch before shareholders approved the merger of the companies in December 2008.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
North Carolina
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.