Defendant Name:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Bank of America Corporation
SIC Code:
6029
CUSIP:
06050510
Document Reference:
34-97872
Document Details
Legal Case Name
In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated; and BAC North America Holding Co.
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Section 203(e) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and Cease-and-Desist Orders
Document Date
11-Jul-2023
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On July 11, 2023, the SEC instituted settled administrative and cease-and-desist proceedings against Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill") and BAC North America Holding Co., stating: "From January 2009 to November 2019, Merrill failed to file certain Suspicious Activity Reports ("SARs") in violation of the broker-dealer books and records provisions of Exchange Act Section 17(a) and Rule 17a-8."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$6,000,000.00
Shared:
Other Defendants in Action:
