Merrill Lynch Fines $3M by Six Exchanges Over Supervision Rules Violations (BAC)
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Six Exchanges Collectively Fine Merrill Lynch $3 Million for Violating the SEC’s Market Access Rule and the Exchanges’ Respective Supervision Rules
September 26, 2016 12:28 PM EDTKANSAS CITY, Mo. and NEW YORK, Sept. 26, 2016 (GLOBE NEWSWIRE) -- The Bats BZX Exchange, Inc., Bats BYX Exchange, Inc., Bats EDGX Exchange, Inc., New York Stock Exchange LLC, NYSE Arca, Inc., and The NASDAQ Stock Market LLC (collectively, the exchanges) announced today that, in disciplinary actions initiated by the Financial Industry Regulatory Authority (FINRA) on their behalf, the exchanges collectively fined Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill Lynch or the firm) $3 million for violating the Securities and Exchange Commissions (SEC) market access rule and the exchanges respective supervision rules.
The SECs market access rule, Rule 15c3-5, requires, among... More
