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

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
First Document Date 26-Sep-2016
Initial Filing Format Administrative Action
File Number 3-17573
Allegation Type Broker Dealer

Violations Alleged

Exchange Act
• Sec 15(c)
Other
• Rules 15c3-5(b), 15c3-5(c)(1)i, 15c3-5(c)(1)(ii), 15c3-5(e) Exchange Act

Resolutions

First Resolution Date 26-Sep-2016
Headline Total Penalty and Disgorgement $12,500,000

Related Documents:

34-78929 26-Sep-2016 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 a Cease-and-Desist Order
On September 26, 2016, the SEC issued a settled administrative proceeding against Merrill Lynch, Pierce, Fenner & Smith Incorporated for violations of Section 15(c)(3) of the Exchange Act and Exchange Act Rule 15c3-5.
2016-192 26-Sep-2016 Press Release--Administrative Proceeding
Merrill Lynch Charged With Trading Controls Failures That Led to Mini-Flash Crashes
On September 26, 2016, the SEC announced that "Merrill Lynch has agreed to pay a $12.5 million penalty for maintaining ineffective trading controls that failed to prevent erroneous orders from being sent to the markets and causing mini-flash crashes."