Violation Tracker Individual Record

Company: 
Merrill Lynch Commodities Inc.
Current Parent Company: 
Bank of America
Penalty: 
$25,000,000
Year: 
2019
Date: 
June 25, 2019
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 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.