Jul. 12, 2023
Merrill Lynch to pay $12 million for failure to file suspicious activity reports
The charges were brought but the Securities and Exchange Commission and the Financial Industry Regulatory Authority.
The Securities and Exchange Commission announced charges against Merrill Lynch Tuesday for failing to file hundreds of suspicious activity reports over a 10-year span.
The government regulatory agency said Merrill Lynch agreed to pay a $6 million penalty to settle the charges and, in a parallel action, agreed to pay a separate $6 million fine to settle charges brought by the Financial Industry Regulatory Authority.
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