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Violation Tracker Individual Record

Company: Merrill Lynch
Current Parent CompanyBank of America
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $300,000
Year: 2009
Date: July 1, 2009
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: False Claims Act and related
Violation Description: Merrill Lynch agreed to pay $300,000 to the Commonwealth in settlement of allegations related to its sale of Auction Rate Securities to the city of Springfield. A previous settlement returned the investment; this settlement repaid fees and costs, and provided funds to train municipal officials on investment management practices and review investments.
Level of Government: state
Action Type: agency action
Agency: Massachusetts Attorney General
Civil or Criminal Case: civil
Facility State: Massachusetts
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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.