Merrill Lynch Fined for Disclosure Failures on Notes

Stockbroker Law - Thursday, August 11, 2016
Merrill Lynch Fined for Disclosure Failures on Notes

The SEC and Financial Industry Regulatory Authority (FINRA) announced an assessment of a $5,000,000 fine against Merrill Lynch for misleading information relating to its strategic return notes. Merrill Lynch sold over $168,000,000 worth of these notes to customers, which were promoted as a hedge against declines in the financial markets. FINRA determined that Merrill Lynch failed to disclose quarterly transaction costs of 1.5% per quarter.

We offer a free initial consultation to investors who may have been victimized with a purchase of structured notes and other improper investments sold by brokerage firms. For a free initial consultation contact the Law Offices of Timothy J. O'Connor at (518) 426-7700.

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