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 In the Matter of Merrill Lynch, Pierce and Fenner & Smith Incorporated
First Document Date 08-Mar-2018
Initial Filing Format Administrative Action
File Number 3-18392
Allegation Type Securities Offering

Violations Alleged

Securities Act
• Sec 5(a)
• Sec 5(c)

Resolutions

First Resolution Date 08-Mar-2018
Headline Total Penalty and Disgorgement $1,404,885

Related Documents:

33-10465 08-Mar-2018 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
According to the SEC: "From January 24, 2011 to August 18, 2011 Merrill violated the registration provisions of the federal securities laws by effecting unregistered sales of almost 3 million shares of Longtop Financial Technologies Limited's ("Longtop") securities for a customer. "
2018-32 08-Mar-2018 Press Release--Administrative Proceeding
Merrill Lynch Charged With Gatekeeping Failures in the Unregistered Sales of Securities
On March 8, 2018, the SEC issued a press release announcing "settled charges against Merrill Lynch, Pierce, Fenner & Smith Inc. for its failure to perform required gatekeeping functions in the unregistered sales of securities on behalf of a China-based issuer and its affiliates."