Violation Tracker Individual Record

Company: 
Merrill Lynch
Current Parent Company: 
Bank of America
Penalty: 
$26,563,094
Year: 
2010
Date: 
May 17, 2010
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

Merrill Lynch agreed to pay over $26 million to the 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands to resolve alleged violations including the use of unlicensed employees to handle client orders.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Financial Regulators Case
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.