Defendant Name:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Defendant Type:
Subsidiary of Public Company
Document Reference:
2016-128
Document Details
Legal Case Name
In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional
Document Name
Merrill Lynch to Pay $415 Million for Misusing Customer Cash and Putting Customer Securities at Risk
Document Date
23-Jun-2016
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On June 23, 2016, the SEC announced that "Merrill Lynch has agreed to pay $415 million and admit wrongdoing to settle charges that it misused customer cash to generate profits for the firm and failed to safeguard customer securities from the claims of its creditors."
Disgorgement & Penalty Information
Resolutions
Compliance Related Independent Consultant
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Other Defendants in Action: