Defendant Name: Merrill Lynch, Pierce, Fenner & Smith Incorporated

Defendant Type: Subsidiary of Public Company

Document Reference: 2015-105

Document Details

Legal Case Name In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corporation
Document Name Merrill Lynch Admits Using Inaccurate Data for Short Sale Orders, Agrees to $11 Million Settlement
Document Date 01-Jun-2015
Document Format Administrative Proceeding
File Number 3-16567
Allegation Type Broker Dealer
Document Summary On June 1, 2015, the SEC announced that it, "charged two Merrill Lynch entities with using inaccurate data in the course of executing short sale orders."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Compliance Related Independent Consultant

Related Documents:

34-75083 01-Jun-2015 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On June 1, 2015, the SEC instituted settled administrative and cease-and-desist proceedings against Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corporation. According to the SEC: "These proceedings concern Merrill's violations of Regulation SHO ('Reg SHO') of the Exchange Act, in connection with its practices relating to its execution of short sales. As described more fully below, the violations arose from two separate issues concerning Merrill's use of its 'easy to borrow' lists."