Bank of America unit failed to disclose conflict of interest to ...

Aug 21, 2018 · Bank of America’s Merrill Lynch unit has agreed to pay $8.9 million to settle Securities and Exchange Commission allegations that it failed to disclose a conflict of interest to customers with ...

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Bank Of America Unit Failed To Disclose Conflict Of Interest To ...

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Merrill Lynch Penalized By SEC For Failing To Disclose Conflict Of …

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Bank of America Corp.’s Merrill Lynch unit agreed to pay almost $9 million to settle a U.S. regulator’s allegations that it failed to disclose a conflict of interest tied to an outside ...

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Merrill Lynch Penalized By SEC For Failing To Disclose… - Inkl

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Aug 20, 2018 · Bank of America Corp.’s Merrill Lynch unit agreed to pay almost $9 million to settle a U.S. regulator’s allegations that it failed to disclose a conflict of interest tied to an outside …

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Bank Of America Unit Failed To Disclose Conflict Of Interest To ... - Inkl

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Aug 22, 2018 · Bank of America's Merrill Lynch unit has agreed to pay $8.9 million to settle Securities and Exchange Commission allegations that it failed to disclose a conflict of interest …

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Bank Of America/Merrill Lynch Merger Litigation | Bernstein …

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Sep 18, 2008 · Lead Plaintiffs enter into settlement for $2.425 billion and corporate governance changes to be implemented by Bank of America. The parties in the Bank of America …

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Section 8 - Compliance/Conflicts Of Interest, Self-Dealing And

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For example, on August 19, 2003, the SEC imposed a civil money penalty of $750,000 on Deutsche Asset Management, Inc., the investment advisory unit of Deutsche Bank AG, for …

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FAQs about Bank of America unit failed to disclose conflict of interest to ... Coupon?

Does BofA have a conflict of interest policy?

BofA faces actual, potential and perceived conflicts of interest on a regular basis during the normal course of business. This document provides a summary of BofA Conflicts of Interest Policy, which applies when we provide investment and ancillary services to our clients. This policy applies to all EMEA employees. ...

What is a conflict of interest?

The sale or purchase of assets between an account and the bank, bank insiders, agents, or affiliates is an inherent conflict of interest. Inevitably, management is confronted with the dilemma of serving two diametrically opposed interests, one interest seeking the highest sales price and the other seeking the lowest sales price. ...

Does the absence of risk reduce a conflict of interest?

The absence of risk in a transaction does not lessen or mitigate a conflict of interest. For example, investments in own-bank deposits may seem to involve little risk and appear to be an innocuous conflict of interest, but, as can be seen in Subsection 8.E.3, there are numerous considerations in making such an assessment. ...

What is prudent administration of conflicts of interest?

The prudent administration of conflicts of interest includes management's (1) recognition that conflicts of interest exist or potentially exist and (2) assurance that there are sufficient procedural and supervisory guidelines to safeguard against breaches of the fiduciary's duty of loyalty. ...

Can counsel insulate a bank from litigation and loss?

However, counsel's opinion alone cannot insulate a bank from litigation and loss if management has acted improperly or imprudently. Self-dealing always involves a conflict of interest, but not all conflicts of interest involve self-dealing. Self-dealing occurs when a fiduciary is a party to a transaction with itself or its affiliates. ...

How does BofA manage conflict?

BofA must take all appropriate steps to identify, escalate and manage Conflicts between the Firm (including its managers, employees and tied agents and any person directly or indirectly linked to them by control) and its clients, or between one client and another, that arise in the course of the Firm providing services. ...