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, Fenner & Smith Incorporated
First Document Date 22-Mar-2019
Initial Filing Format Administrative Action
File Number 3-19114
Allegation Type Broker Dealer

Violations Alleged

Other
• Section 15(b)(4)(E) Exchange Act

Resolutions

First Resolution Date 22-Mar-2019
Headline Total Penalty and Disgorgement $8,000,000

Related Documents:

34-85395 22-Mar-2019 Administrative Proceeding
Order Instituting Administrative Proceedings, Pursuant to Section 15(b)(4) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions
On March 22, 2019, the SEC issued an order against Merrill, Lynch, Pierce, Fenner & Smith Incorporated, stating: "These proceedings arise out of Merrill's improper practices with respect to securities lending transactions involving pre-released American Depositary Receipts ("ADRs")."
2019-40 22-Mar-2019 Press Release--Administrative Proceeding
Merrill Lynch to Pay Over $8 Million for Improper Handling of ADRs
The SEC stated that: "Merrill Lynch, Pierce, Fenner & Smith Incorporated will pay over $8 million to settle charges of improper handling of 'prereleased' American Depositary Receipts (ADRs)."