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Violation Tracker Individual Record

Company: Merrill Lynch Commodities Inc.
Current Parent CompanyBank of America
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $25,000,000
Year: 2019
Date: June 25, 2019
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: Merrill Lynch Commodities Inc. agreed to pay $25 million to resolve an investigation into a multi-year scheme by its precious metals traders to mislead the market for precious metals futures contracts traded on the Commodity Exchange Inc. A parallel case was brought by the Commodity Futures Trading Commission (see separate Violation Tracker entry).
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: non-prosecution agreement
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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.