Merrill to Pay $1.5 Million After Brokers Sidestepped Fee Waivers ...
Jul 3, 2024 · The Financial Industry Regulatory Authority censured Merrill Lynch and ordered it to pay $1.5 million to over 1,300 customers who were charged unnecessary fees in their advisory accounts ...
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Merrill To Pay $1.5 Million After Brokers Sidestepped Fee Waivers ...
3 weeks from now
Jul 3, 2024 · The Financial Industry Regulatory Authority censured Merrill Lynch and ordered it to pay $1.5 million to over 1,300 customers who were charged unnecessary fees in their advisory accounts ...
advisorhub.com
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Merrill Lynch To Reimburse Customers $1.5 Million Over Avoidable …
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Jul 3, 2024 · In an AWC published Monday, Finra stated that from January 2018 until June 2022, Merrill Lynch's representatives had advised customers to buy products in brokerage accounts …
investmentnews.com
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Merrill Lynch To Pay Nearly $1.5 Million In Restitution Over …
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Jul 12, 2024 · Merrill Lynch reached a settlement with the Financial Industry Regulatory Authority in connection with unnecessary fees charged to customers, according to AdvisorHub.. In a …
securitieslaw.com
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Finra Orders Merrill To Repay Customers Almost $1.5M On Fee …
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Jul 2, 2024 · Finra Orders Merrill To Repay Customers Almost $1.5M On Fee Lapses ... when the latter were eligible for fee waivers. Finra said Monday that because of those lapses Merrill had …
fa-mag.com
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Finra Orders Merrill To Repay Customers Almost $1.5M On Fee …
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Finra said Monday that because of those lapses Merrill had to pay restitution of $1,486,380, as well as interest, to 1,361 different customers. “Merrill Lynch offers customers a 12-month …
fa-mag.com
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Finra Fines Merrill Lynch $1.5 Million Over Avoidable Fees - MSN
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Merrill, a unit of Bank of America, allegedly offered clients a 12-month waiver on fees associated with the purchase of certain products if the transactions were executed through an advisory …
msn.com
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FINRA Orders Merrill Lynch To Pay $1.48M In Restitution To 1361 …
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Jul 3, 2024 · As a result of the firm’s supervisory failures, customers holding over 2,000 accounts paid almost $1.5 million in avoidable fees. By virtue of the foregoing, Merrill Lynch violated …
fxnewsgroup.com
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Merrill To Pay $1.5M In Restitution For Skirting No-fee Advisory ...
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FINRA’s settlement with Merrill calls on the firm to pay $1.49 million in restitution, as well as interest, to 1,361 clients. The industry watchdog accused Merrill of violating Regulation Best …
theadvisermagazine.com
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Merrill Violated Reg BI With $1.5M In Avoidable Fees: FINRA
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Jul 5, 2024 · Merrill's failure to stop its reps from dodging fee waivers affected 1,361 clients, according to FINRA. Merrill Violated Reg BI With $1.5M in Avoidable Fees: FINRA Tax Facts …
thinkadvisor.com
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Merrill Lynch Agrees To Settle Allegations Of 1.5 Million
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Jul 6, 2024 · Merrill Lynch agrees to pay nearly $1.5 million to settle allegations that its representatives executed transactions resulting in unnecessary fees for over 1,300 customers. …
thewealthadvisor.com
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Merrill Pays $15.2 Million To Investors Who Spent Too Much For …
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Jun 2, 2022 · Merrill customers paid approximately $13.4 million in excess fees and expenses, Finra said. Merrill agreed to provide restitution of $15.2 million, which includes an interest …
investmentnews.com
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Merrill To Reimburse Customers $15.2 Million For Mutual Fund …
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Jun 2, 2022 · In 2014, Merrill paid an $8 million fine and $24.2 million in restitution for suitability violations tied to selling Class A fund shares with sales charges to more than 30,000 accounts …
advisorhub.com
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Finra Orders Merrill Lynch To Repay Clients $15 Million For
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Industry regulator Finra ordered Merrill Lynch to pay more than $15.2 million to resolve allegations that it placed clients in costly shares of mutual funds when cheaper shares of the same funds ...
barrons.com
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Merrill To Pay $1.5M In Restitution For Skirting No-fee Advisory ...
3 weeks from now
Jul 3, 2024 · Merrill has agreed to pay nearly $1.5 million in restitution to more than 1,300 clients for turning to its brokerage to sell products that could have been offered at no fee through its …
financial-planning.com
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FINRA Orders Three Firms To Pay Over $8.2 Million In Restitution …
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Dec 20, 2024 · WASHINGTON—FINRA has ordered three firms—Edward Jones, Osaic Wealth, Inc. and Cambridge Investment Research, Inc.—to pay more than $8.2 million in restitution to …
finra.org
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Merrill Mutual Fund Enforcement Lessons Learned
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Jun 24, 2022 · This resulted in thousands of Merrill customers not taking advantage of the lower cost alternative and paying approximately $13.4 million in excess sales charges and fees. This …
mastercompliance.com
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FINRA: Merrill Lynch Must Pay $15.2M In Restitution To Customers
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Jun 7, 2022 · F. or the third time in eight years, Merrill Lynch, Pierce, Fenner & Smith has been ordered by the Financial Industry Regulatory Authority (FINRA) to pay restitution to thousands …
compliancechief360.com
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Merrill To Pay $15m Over Finra Mutual Fund Violation Allegations
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Jun 2, 2022 · Merrill Lynch has agreed to pay over $15m to customers who purchased Class C mutual fund shares when lower-cost options were available. ... (Finra). As a result, thousands …
citywire.com
FAQs about Merrill to Pay $1.5 Million After Brokers Sidestepped Fee Waivers ... Coupon?
Did Merrill violate FINRA's rule 2111?
Did Merrill offer a 12-month fee waiver?
Why did FINRA order three firms to pay restitution?
How much restitution has FINRA secured?
Why did Merrill Lynch pay $1.5 million?
What did Merrill Lynch do about avoidable fees?
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