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Institutional FX

SEC Imposes $9M Penalties on Harvest and Merrill Lynch over Investor Risk Violations

  • According to SEC, Merrill Lynch introduced clients to Harvest and collected fees.
  • Both firms let CYES accounts exceed exposure limits, causing higher fees and investor losses.
Wednesday, 25/09/2024 | 14:07 GMT by Tareq Sikder
Institutional FX

Merrill Lynch to Pay $6M to SEC to Settle Suspicious Activity Reports Charges

  • FINRA slammed a fine of $6M on Merrill Lynch for the same failure.
  • The private regulator previously fined Credit Suisse Securities and UBS Securities.
Tuesday, 11/07/2023 | 21:51 GMT by Solomon Oladipupo
Executive Moves

Dieter Enkelmann Steps Down as Julius Baer CFO as Evie Kostakis Steps Up

  • Enkelmann plans to move on to other non-executive posts outside the bank.
  • Kostakis will succeed Enkelmann as CFO and Member of the group and bank’s Executive Board.
Wednesday, 22/12/2021 | 14:13 GMT by Tom Hazan
Executive Moves

MarketAxess Onboards Charles Li to Join Its Board of Directors

  • Li brings in excess of a quarter of a century of experience to the role with MarketAxess.
Monday, 19/07/2021 | 10:30 GMT by Tom Hazan
Executive Moves

Michael Findlay Is Onboarded as FCA's Chair of Markets Practitioner Panel

  • Michael Findlay succeeds interim Chair, Tim Waddell, the Vice-Chair of Global Corp. & Investment Banking for EMEA.
Tuesday, 15/06/2021 | 12:00 GMT by Tom Hazan
Executive Moves

Diginex Hires Ex-Merrill Lynch CFO Jim Pollock as Its New COO

  • He is bringing over 30 years of financial sector experience to the startup.
Wednesday, 12/02/2020 | 10:20 GMT by Arnab Shome
Regulation

SFC Suggests that Merrill Wealth is Merrill Lynch Clone Firm

  • The entity has been listed on the regulator’s warning page as a “suspicious website.”
Thursday, 25/07/2019 | 12:25 GMT by Celeste Skinner
Regulation

Merrill Lynch Pays $36.5 Million to Settle Spoofing Charges

  • Prosecutors filed complaints describing the plot, quoting conversations MLCI staff had via online chat with other traders.
Wednesday, 26/06/2019 | 17:19 GMT by Aziz Abdel-Qader
News

Ex-Merrill Lynch Banker Suspended by FINRA for Crypto Business

  • Kyung Soo Kim will also have to pay a $5,000 fine for starting a mining operation without informing his employers
Thursday, 13/06/2019 | 10:14 GMT by David Kimberley
Regulation

Merrill Lynch Pays $8 Million to Settle ADRs Case with SEC

  • The SEC has probed and fined several Wall Street banks in similar cases including Citigroup, Deutsche Bank, and J.P. Morgan.
Friday, 22/03/2019 | 20:48 GMT by Aziz Abdel-Qader
Institutional FX

Merrill Lynch Fined $42 Million by SEC for Misleading Clients Over Orders

  • The wealth manager told clients it was executing orders internally when they were really being passed on to other broker-dealers
Wednesday, 20/06/2018 | 07:01 GMT by David Kimberley
Regulation

Merrill Lynch to Pay Back More Than $10 Million over Securities Fraud

  • The SEC found that traders had lied to customers about how much they had paid for residential mortgage backed securities
Wednesday, 13/06/2018 | 06:34 GMT by David Kimberley
Regulation

Merrill Lynch Pays $60,000 Fine for Inappropriate Order Limits in Australia

  • MLAF set inappropriate order limits in its upstream and downstream systems, undetected for 6 years.
Tuesday, 12/09/2017 | 06:43 GMT by Colin Firth
Regulation

SFC Fines Merrill Lynch Asian Subsidiaries $15m for Internal Control Failures

  • The SFC reprimanded a pair of Merrill Lynch subsidiaries $15m after an independent review.
Friday, 24/03/2017 | 14:38 GMT by Jeff Patterson
Executive Moves

BAML Drops Joint Leadership in Investment Banking Unit, Diego De Giorgi Becomes Sole Head

  • Bank of America Merrill Lynch (BAML) is the latest firm to shake up the top ranks of its investment bank.
Wednesday, 19/10/2016 | 15:13 GMT by Aziz Abdel-Qader
Regulation

Merrill Lynch Fined $2.8 Million by FINRA for Reporting Violations

  • A large part of the transmitted information was deemed inaccurate.
Tuesday, 18/10/2016 | 16:32 GMT by Aziz Abdel-Qader
Executive Moves

Former Merrill Lynch and Visa Europe Heads Join Bink Loyalty App

  • Wigley and Perry have joined the company in senior roles tasked wtih executing the launch of Bink’s new service.
Tuesday, 04/10/2016 | 09:29 GMT by Finance Magnates Staff
Regulation

Merrill Lynch Settles for $15.5m over Mini-Flash Crashes

  • This is the highest-ever SEC penalty for violations of the Market Access Rule.
Monday, 26/09/2016 | 20:32 GMT by Aziz Abdel-Qader
Regulation

Bank of America Settles for $12.8m with Former Merrill Lynch Employees

  • Bank of America reached a settlement, awarding a total of $12.8 million for claims by 270 former employees.
Friday, 09/09/2016 | 10:27 GMT by Jeff Patterson
Regulation

Merrill Lynch Poised to Further Lose Over Structured Notes Sales

  • Merrill Lynch sold approximately $150 million of these volatility notes to approximately 4,000 retail investor.
Thursday, 01/09/2016 | 15:26 GMT by Aziz Abdel-Qader
Executive Moves

Barclays’ John Langley to Part Ways with Lender by Year's End

  • Mr. Langley has worked at Merrill Lynch and Barclays for the past two decades and will retire from the group in December.
Friday, 26/08/2016 | 06:18 GMT by Jeff Patterson
Regulation

Merrill Lynch Fined $425m For Misleading Investors and Misusing Assets

  • SEC and FINRA launched a crackdown on Merrill Lynch which will pay more than $400 million to settle several violations.
Thursday, 23/06/2016 | 23:57 GMT by Aziz Abdel-Qader
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