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
: October 4, 2011
: financial offenses
: investor protection violation
: financial institution supervision failures
: The Financial Industry Regulatory Authority fined Merrill Lynch, Pierce, Fenner & Smith Inc., $1 million for supervisory failures that allowed a registered representative at Merrill Lynch's branch office in San Antonio, Texas, to use a Merrill Lynch account to operate a Ponzi scheme.
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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Current parent company note
: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log