Violation Tracker Individual Record

Company: 
Merrill Lynch, Pierce, Fenner & Smith
Current Parent Company: 
Bank of America
Penalty: 
$42,000,000
Year: 
2018
Date: 
June 19, 2018
Primary Offense: 
investor protection violation
Violation Description: 

Merrill Lynch, Pierce, Fenner & Smith agreed to pay a $42 million penalty to resolve allegations that it misled customers about how it handled their orders.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
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.