Defendant Name:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Defendant Type:
Subsidiary of Public Company
Document Reference:
2019-40
Document Details
Legal Case Name
In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated
Document Name
Merrill Lynch to Pay Over $8 Million for Improper Handling of ADRs
Document Date
22-Mar-2019
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
The SEC stated that: "Merrill Lynch, Pierce, Fenner & Smith Incorporated will pay over $8 million to settle charges of improper handling of 'prereleased' American Depositary Receipts (ADRs)."
Disgorgement & Penalty Information
Resolutions
None Specified
Monetary Penalties:
Disgorgement
Individual:
$4,400,000.00
Shared:
Civil Penalty
Individual:
$2,890,000.00
Shared:
Pre-Judgment Interest
Individual:
$724,000.00
Shared:
Total Penalty
Individual:
$8,000,000.00
Shared: