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:
2018-105
Document Details
Legal Case Name
In the Matter of Merrill Lynch, Pierce, Fenner & Smith, Incorporated
Document Name
SEC Charges Merrill Lynch for Failure to Supervise RMBS Traders
Document Date
12-Jun-2018
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
According to the SEC: "The Securities and Exchange Commission today announced that Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $15 million to settle charges that its employees misled customers into overpaying for Residential Mortgage Backed Securities (RMBS)."
Disgorgement & Penalty Information
Monetary Penalties:
Civil Penalty
Individual:
$5,200,000.00
Shared:
Disgorgement and prejudgment interest
Individual:
$10,200,000.00
Shared: