Defendant Name:
Banc of America Securities LLC
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 Banc of America Securities LLC with Merrill Lynch, Pierce, Fenner & Smith Incorporated as Successor
First Document Date
14-Mar-2007
Initial Filing Format
Administrative Action
File Number
3-12591
Allegation Type
Insider Trading
Violations Alleged
•
Section 15(f) Exchange Act; Rule 15c1-2(a) Exchange Act
Resolutions
First Resolution Date
14-Mar-2007
Related Documents:
34-55466
14-Mar-2007
Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Sections 15(b)(4) and 21C of the Securities Exchange Act of 1934
On March 14, 2007, the SEC instituted settled administrative and cease-and-desist proceedings against Banc of America Securities LLC ("BAS"). According to the SEC: "During the period January 1999 through December 2001, BAS violated the antifraud and internal controls provisions of the federal securities laws in connection with its issuance of research. First, BAS lacked politics and procedures to prevent the misuse by the firm and its employees of material nonpublic information concerning the content and timing of its research reports. Second, BAS issued materially false and misleading research on three different companies."
34-59595
18-Mar-2009
Administrative Proceeding
Order Extending Deadline To Certify Compliance With Undertakings Pursuant to Section 15(f) of the Securities Exchange Act of 1934
The Commission ordered that: "The deadline for Respondent to certify compliance with certain undertakings
. . . is extended for forty-five days from the date of this Order."
34-63571
17-Dec-2010
Administrative Proceeding
Order Terminating the Fair Fund, Discharging the Distribution Fund Administrator and Cancelling the Administrator's Bond
This order, filed on December 17, 2010, relates to the termination of the Fair Fund and discharges the Plan administrator and cancels the administrator's bond. All distributions have been made and the final money remaining in the Fund will be transferred to the US Treasury.
34-68023
09-Oct-2012
Administrative Proceeding
Order Amending Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Sections 15(b)(4) and 21C of the Securities Exchange Act of 1934
On October 9, 2012, the SEC amended its earlier 2007 Banc of America Securities LLC ("BAS") Order as agreed to in the Amended Offer of Merrill Lynch, Pierce, Fenner & Smith Incorporated as Successor to BAS. Among other things, the amended order stated that "henceforth the successors and assigns of BAS shall comply with all orders, addenda and undertakings in SEC v. Merrill Lynch, Pierce, Fenner & Smith Inc., 03 Civ. 2941 (WHP) (S.D.N.Y. April 28, 2003), as modified on March 15, 2010".
