Violation Tracker Individual Record
Company:Merrill Lynch, Pierce, Fenner & Smith Inc.
Date:March 23, 2015
Offense Group:financial offenses
Primary Offense:investor protection violation
Secondary Offense:financial institution supervision failures
Merrill Lynch agreed to pay a $2.5 million administrative penalty in settlement of allegations it failed to properly supervise financial advisors which allowed unsuitable financial advice to be promoted.
Level of Government:state
Action Type:agency action
Agency:Massachusetts Securities Division
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
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