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

Defendant Type: Subsidiary of Public Company

Document Reference: 2016-192

Document Details

Legal Case Name In the matter of Merrill Lynch, Pierce, Fenner, & Smith Incorporated
Document Name Merrill Lynch Charged With Trading Controls Failures That Led to Mini-Flash Crashes
Document Date 26-Sep-2016
Document Format Administrative Proceeding
File Number 3-17573
Allegation Type Broker Dealer
Document Summary On September 26, 2016, the SEC announced that "Merrill Lynch has agreed to pay a $12.5 million penalty for maintaining ineffective trading controls that failed to prevent erroneous orders from being sent to the markets and causing mini-flash crashes."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured

Related Documents:

34-78929 26-Sep-2016 Administrative Proceeding
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 a Cease-and-Desist Order
On September 26, 2016, the SEC issued a settled administrative proceeding against Merrill Lynch, Pierce, Fenner & Smith Incorporated for violations of Section 15(c)(3) of the Exchange Act and Exchange Act Rule 15c3-5.