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
: September 24, 2012
: financial offenses
: investor protection violation
: financial institution supervision failures
: The Financial Industry Regulatory Authority censured and fined Merrill Lynch, Pierce, Fenner & Smith Inc. $500,000 for supervisory failures that allowed widespread deficiencies in filing hundreds of required reports, including customer complaints, arbitration claims, and related U4 and U5 filings, and for its failure to file the required reports.
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)
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Current parent company note
: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log