Bank of America Fined $415 Million for violations
The Securities and Exchange commission found the Bank of America's Merrill Lynch to have irresponsibly used billions of dollars of client money.
- Abe Aron
- י"ח סיון התשע"ו
זינדל פלאש
According to a New York Times report," The S.E.C. said Merrill Lynch misused as much $5 billion in customer cash weekly from 2009 to 2012, making complex options trades that generated $50 million in profits for the company over that period. In the process, the bank failed to safeguard customer assets that could have been jeopardized in the event the company failed…Though customers did not lose money, the enormous exposure to risk brought on such steep penalties, said Andrew J. Ceresney, the S.E. C.'s director of enforcement. "קישורים:
Bank of America to Pay $415 Million to Settle S.E.C. Inquiry
Bank of America to Pay $415 Million to Settle S.E.C. Inquiry
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