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Violation Tracker Individual Record

Company: BofA Securities, Inc.
Current Parent Company: Bank of America
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $5,000,000
Year: 2022
Date: September 12, 2022
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: FINRA fined BofA Securities Inc. $5 millionfor failing to report over-the-counter (OTC) options positions to the Large Options Positions Reporting system in more than 7.4 million instances, including 26 positions that were over the applicable OTC position limit, and related supervisory failures.
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)
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.