Defendant Name:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Bank of America Corporation
SIC Code:
6021
CUSIP:
06050510
Initial Case Details
Legal Case Name
SEC v. Bank of America, N.A., Banc of America Mortgage Securities, Inc., and Merrill Lynch, Fenner, Pierce & Smith LLC
First Document Date
06-Aug-2013
Initial Filing Format
Civil Proceeding
Case Number
13-cv-00447
Allegation Type
Securities Offering
Federal District Court
North Carolina, Western District of North Carolina
Violations Alleged
•
Regulation S-K item 503 Securities Act; Regulation AB items 1103, 1104, 1111 Securities Act
Resolutions
First Resolution Date
25-Nov-2014
Headline Total Penalty and Disgorgement
See Related Documents
Related Documents:
Complaint
On August 7, 2013, the SEC filed a complaint against Merrill Lynch, Pierce, Fenner & Smith, Inc., and other Bank of America Entities. The SEC alleged that the Bank of America Entities misrepresented and omitted certain material facts regarding residential mortgage-backed securities, "backed by more than $855 million of residential mortgages, known as BOAMS 2008-A, that was offered and sold in 2008.... As a result of the misstatements and omissions, the Bank of America Entities violated Sections 17(a)(2) and 17(a)(3) of the Securities Act "
2013-148
06-Aug-2013
Press Release--Civil Action
SEC Charges Bank of America With Fraud in RMBS Offering
On August 6, 2013, the SEC announced that it "charged Bank of America and two subsidiaries with defrauding investors in an offering of residential mortgage-backed securities (RMBS) by failing to disclose key risks and misrepresenting facts about the underlying mortgages."
SEC Charges Bank of America Entities with Material Misrepresentations and Omissions in Connection with an RMBS Offering
On August 7, 2013, the SEC issued a litigation release announcing that it "filed a civil injunctive action against Bank of America, N.A. ("BANA"), Banc of America Mortgage Securities, Inc. ("BOAMS"), and Merrill Lynch, Pierce, Fenner & Smith, Inc. f/k/a Banc of America Securities LLC ("BAS") (collectively the "Bank of America Entities"). The Commission alleges that the Bank of America Entities made material misrepresentations and omissions in connection with the sale of residential mortgage-backed securities known as BOAMS 2008A."
Final Judgment as to Merrill Lynch, Pierce, Fenner & Smith Inc. f/k/a Banc of America Securities LLC
On November 25, 2014, Federal District Judge Max O. Coburn Jr. entered final judgment against Merrill Lynch, Pierce, Fenner & Smith Incorporated pursuant to the consent of Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Order Approving Plan of Distribution for Bank of America Mortgage Obligations Distribution Fund
The Court ordered: "The Plan is approved and the Distribution Fund shall be distributed in accordance with the Plan".
Order Authorizing Disbursement
The Court ordered: "the Distribution Agent shall disburse the Net Available Distribution Fund in the amount of $119,758,536.86 to the six Eligible Claimants in accordance with the terms of the Distribution Plan and the motions."
Other Defendants in Action:
