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 12-Jun-2018
Initial Filing Format Administrative Action
File Number 3-18538
Allegation Type Broker Dealer

Violations Alleged

Other
• 15(b)(4)(E) Exchange Act

Resolutions

First Resolution Date 12-Jun-2018

Related Documents:

34-83408 12-Jun-2018 Administrative Proceeding
Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions
According to the SEC: "These proceedings arise out of Merrill's failure reasonably to supervise Firm personnel so as to prevent and detect violations of antifraud provisions of the federal securities laws in connection with Merrill's secondary market purchases and sales of certain bonds known as non-agency residential mortgage-backed securities ("non-agency RMBS")."
2018-105 12-Jun-2018 Press Release--Administrative Proceeding
SEC Charges Merrill Lynch for Failure to Supervise RMBS Traders
According to the SEC: "The Securities and Exchange Commission today announced that Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $15 million to settle charges that its employees misled customers into overpaying for Residential Mortgage Backed Securities (RMBS)."