Disciplinary and Other FINRA Actions

2 Disciplinary and Other FINRA Actions September 2024 Firms Fined Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #7691, New York, New York) July 1, 2024 – A Letter of …

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FINRA Orders Merrill Lynch, Pierce, Fenner & Smith, Inc. To Pay …

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Jun 2, 2022 · FINRA announced today that it has ordered Merrill Lynch, Pierce, Fenner & Smith, Inc. to pay more than $15.2 million in restitution and interest to thousands of customers who …

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FINRA Orders Merrill Lynch, Pierce, Fenner & Smith To Pay $7.2M

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Jun 4, 2020 · FINRA orders Merrill Lynch, Pierce, Fenner & Smith Inc. to pay more than $7.2 million in restitution and interest to customers who incurred unnecessary sales charges and …

bloomberglaw.com

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SEC Charges Pair Of Wells Fargo Advisory Firms And Merrill Lynch …

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Jan 17, 2025 · The firms agreed to settle the SEC’s charges and pay $60 million in total civil penalties. According to the SEC’s orders, Wells Fargo Advisors and Merrill Lynch offered bank …

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Merrill Lynch Fine - $2m - Trade Reporting Errors - FINRA - Sep 2024

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Merrill Lynch fined $2M by FINRA for trade reporting errors between 2010-2020, including misreported execution times and customer allocations. ... Order Book Replay; Surveillance …

steel-eye.com

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Merrill Lynch To Pay $2M FINRA Fine Over Trade Report Flaws

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By Sydney Price. Law360 (October 1, 2024, 10:57 PM EDT) -- Merrill Lynch Pierce Fenner & Smith Inc. has agreed to pay the Financial Industry Regulatory Authority $2 million to settle …

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CFTC Orders Merrill, Lynch, Pierce, Fenner & Smith Incorporated To …

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Sep 22, 2017 · CFTC Orders Merrill, Lynch, Pierce, Fenner & Smith Incorporated to Pay $2.5 Million to Settle Charges of Supervision Failures and Recordkeeping Violations ... The Order …

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Merrill Lynch, Pierce, Fenner & Smith Inc. — Market Access Advisors

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May 9, 2024 · Merrill Lynch was fined $825,000 for failing to review the execution timeliness of orders processed through the firm’s electronic order systems from the time the orders were …

marketaccessadvisors.com

FAQs about Disciplinary and Other FINRA Actions Coupon?

Did Merrill Lynch admit to FINRA's findings?

In settling this matter, Merrill Lynch accepted and consented to the entry of FINRA’s findings without admitting or denying them. FINRA is a not-for-profit organization dedicated to investor protection and market integrity. It regulates one critical part of the securities industry—brokerage firms doing business with the public in the United States. ...

Did Merrill Lynch & Pierce Fenner & Smith fail to file SARs?

The Securities and Exchange Commission today announced charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated and its parent company BAC North America Holding Co. (BACNAH) for failing to file hundreds of Suspicious Activity Reports (SARs) from 2009 to late 2019. ...

How much did Merrill Lynch pay to settle SEC charges?

Merrill Lynch agreed to pay a $6 million penalty to settle the SEC charges and, in a parallel action, Merrill Lynch agreed to pay a separate $6 million fine to settle charges brought by the Financial Industry Regulatory Authority (FINRA). ...

How did Wells Fargo & Merrill Lynch deal with the SEC?

The firms agreed to settle the SEC’s charges and pay $60 million in total civil penalties. According to the SEC’s orders, Wells Fargo Advisors and Merrill Lynch offered bank deposit sweep programs (BDSPs) as the only cash sweep option for most advisory clients and received a significant financial benefit from advisory client cash in the BDSPs. ...

Who is responsible for implementing Merrill Lynch's SAR policies and procedures?

According to the SEC’s order, BACNAH assumed responsibility for creating and implementing Merrill Lynch’s SAR policies and procedures and for filing Merrill Lynch’s SARs. ...

How much will harvest pay Merrill & Merrill?

Harvest will also pay $3.5 million in disgorgement and prejudgment interest, while Merrill will pay $2.8 million in disgorgement and prejudgment interest. The SEC's investigation was conducted by Bobby Gray, Matthew Finnegan, and Suzanne Romajas, under the supervision of Jeff Leasure and Mr. Cave. ...