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:
34-59555
Document Details
Legal Case Name
In the Matter Of Merril Lynch, Pierce, Fenner, & Smith Incorporated
Document Name
Order Instituting Proceedings Pursuant to Sections 15(b)(4) and 21C of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Cease-and-Desist Order, Penalties, and Other Relief
Document Date
11-Mar-2009
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On March 11, 2009, the SEC instituted settled proceedings against Merrill Lynch, Pierce, Fenner, & Smith Incorporated stating: "From 2002 to 2004, several Merrill Lynch retail brokers permitted day traders to hear
confidential information regarding Merrill Lynch institutional customers’ unexecuted orders as
they were transmitted over Merrill Lynch’s squawk box system."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Monetary Penalties:
Civil Penalty
Individual:
$7,000,000.00
Shared:
