Basic Search
|
Summaries
|
Advanced SearchViolation Tracker Individual Record
Company: Merrill Lynch, Pierce, Fenner & Smith Inc.
Current Parent Company:
Bank of America
Parent at the Time of the Penalty Announcement:
subscribe to see this data field
Penalty: $7,030,000
Year: 2016
Date: November 30, 2016
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: The Financial Industry Regulatory Authority fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6.25 million and the firm will pay approximately $780,000 in restitution for inadequately supervising its customers' use of leverage in their Merrill brokerage accounts.
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)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government.
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.