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
Document Reference:
34-83408
Document Details
Legal Case Name
In the Matter of Merrill Lynch, Pierce, Fenner & Smith, Incorporated
Document Name
Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions
Document Date
12-Jun-2018
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
According to the SEC: "These proceedings arise out of Merrill's failure reasonably to supervise Firm personnel so as to prevent and detect violations of antifraud provisions of the federal securities laws in connection with Merrill's secondary market purchases and sales of certain bonds known as non-agency residential mortgage-backed securities ("non-agency RMBS")."
Disgorgement & Penalty Information
Resolutions
Censured
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$8,630,306.00
Shared:
Civil Penalty
Individual:
$5,267,720.00
Shared:
Pre-Judgment Interest
Individual:
$1,905,135.00
Shared:
