Defendant Name:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Defendant Type:
Subsidiary of Public Company
Document Reference:
2009-54
Document Details
Legal Case Name
In the Matter Of Merril Lynch, Pierce, Fenner, & Smith Incorporated
Document Name
SEC Charges Merrill Lynch for Failure to Protect Customer Order Information on "Squawk Boxes"
Document Date
11-Mar-2009
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
The SEC stated that: "[It] charged Merrill Lynch, Pierce, Fenner & Smith Inc. with
securities laws violations for having inadequate policies and procedures for
controlling access to institutional customer order flow. Merrill Lynch agreed
to settle the SEC’s charges and pay a $7 million penalty, among other
remedies."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Monetary Penalties:
Civil Penalty
Individual:
$7,000,000.00
Shared: