Defendant Name: Merrill Lynch, Pierce, Fenner & Smith Incorporated

Defendant Type: Subsidiary of Public Company
Public Company Parent: Bank of America Corporation
SIC Code: 6029
CUSIP: 06050510

Initial Case Details

Legal Case Name In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated; and BAC North America Holding Co.
First Document Date 11-Jul-2023
Initial Filing Format Administrative Action
File Number 3-21524
Allegation Type Broker Dealer

Violations Alleged

Other
• Section 17(a) Exchange Act; Rule 17a-8 Exchange Act
Additionally, BAC North America Holding Co. is alleged to have caused Merrill Lynch, Pierce, Fenner & Smith Incorporated's violation of Section 17(a) Exchange Act; Rule 17a-8 Exchange Act.

Resolutions

First Resolution Date 11-Jul-2023
Headline Total Penalty and Disgorgement $6,000,000

Related Documents:

34-97872 11-Jul-2023 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Section 203(e) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and Cease-and-Desist Orders
On July 11, 2023, the SEC instituted settled administrative and cease-and-desist proceedings against Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill") and BAC North America Holding Co., stating: "From January 2009 to November 2019, Merrill failed to file certain Suspicious Activity Reports ("SARs") in violation of the broker-dealer books and records provisions of Exchange Act Section 17(a) and Rule 17a-8."
2023-128 11-Jul-2023 Press Release--Administrative Proceeding
SEC Charges Merrill Lynch and Parent Company for Failing to File Suspicious Activity Reports
On July 11, 2023, the SEC "announced charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated and its parent company BAC North America Holding Co. (BACNAH) for failing to file hundreds of Suspicious Activity Reports (SARs) from 2009 to late 2019."

Other Defendants in Action:

BAC North America Holding Co.