Violation Tracker Individual Record
: Merrill Lynch, Pierce, Fenner & Smith Inc.
Current Parent Company
: Bank of America
Parent at the Time of the Penalty AnnouncementPenalty
to see this data field
: November 30, 2016
: financial offenses
: investor protection violation
: financial institution supervision failures
: 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
: agency action
: Financial Industry Regulatory Authority
Civil or Criminal Case
HQ Country of Current Parent
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
Source of Data
: (click here)
: FINRA is a securities industry self-regulatory body authorized by the federal government.
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for an updated link.
Current parent company note
: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log