Defendant Name:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Defendant Type:
Subsidiary of Public Company
Document Reference:
2020-90
Document Details
Legal Case Name
In the Matter of Merrill Lynch, Pierce, Fenner & Smith, Incorporated
Document Name
SEC Orders Three Self-Reporting Advisory Firms to Reimburse Investors
Document Date
17-Apr-2020
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
The SEC "announced settled charges against two advisers that self-reported as part of the Division of Enforcement's Share Class Selection Disclosure Initiative, and a third adviser that self-reported within months of the initiative's self-reporting deadline. The Commission's orders today are the final cases the Division intends to recommend under the terms of the initiative. Including today's actions, the Commission has ordered more than $139 million to be returned to investors as part of the initiative."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
"comply with certain undertakings, including returning the money to investors"
Self Reporting to SEC
Monetary Penalties:
Disgorgement
(Penalty was noted in document, but no amount was listed)
Pre-Judgment Interest
(Penalty was noted in document, but no amount was listed)
