Defendant Name: Merrill Lynch Professional Clearing Corporation

Defendant Type: Subsidiary of Public Company
Public Company Parent: Bank of America Corporation
SIC Code: 6211
CUSIP: 06050510

Initial Case Details

Legal Case Name In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corporation
First Document Date 01-Jun-2015
Initial Filing Format Administrative Action
File Number 3-16567
Allegation Type Broker Dealer

Violations Alleged

Other
• Rule 203(b) Regulation SHO

Resolutions

First Resolution Date 01-Jun-2015
Headline Total Penalty and Disgorgement $10,900,810

Related Documents:

2015-105 01-Jun-2015 Press Release--Administrative Proceeding
Merrill Lynch Admits Using Inaccurate Data for Short Sale Orders, Agrees to $11 Million Settlement
On June 1, 2015, the SEC announced that it, "charged two Merrill Lynch entities with using inaccurate data in the course of executing short sale orders."
34-75083 01-Jun-2015 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On June 1, 2015, the SEC instituted settled administrative and cease-and-desist proceedings against Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corporation. According to the SEC: "These proceedings concern Merrill's violations of Regulation SHO ('Reg SHO') of the Exchange Act, in connection with its practices relating to its execution of short sales. As described more fully below, the violations arose from two separate issues concerning Merrill's use of its 'easy to borrow' lists."

Other Defendants in Action:

Merrill Lynch, Pierce, Fenner & Smith Incorporated