CFTC: Merrill Lynch to Pay $300,000 for Failure to Promptly Produce Audit Trail Data

Data : 10/09/2019 @ 22:25
Fonte : Dow Jones News
Titolo : Bank of America Corporation (BAC)
Quotazione : 33.67  0.58 (1.75%) @ 02:00
Quotazione Bank of America Grafico
After-Hours
Ultimo Scambio
Ultimo $ 33,68 ▲ 0,01 (0,03%)

CFTC: Merrill Lynch to Pay $300,000 for Failure to Promptly Produce Audit Trail Data

Grafico Azioni Bank of America (NYSE:BAC)
Storico

3 Mesi : Da Set 2019 a Dic 2019

Clicca qui per i Grafici di Bank of America
   By Stephen Nakrosis 
 

The U.S. Commodity Futures Trading Commission said Tuesday that Merrill Lynch, Pierce, Fenner & Smith Inc. will pay $300,000 to settle charges it failed to produce required records and separately failed to "supervise its employees and agents to ensure that they fulfilled the firm's statutory and regulatory obligations to keep and promptly produce such records."

The CFTC said Merrill Lynch failed to produce reliable audit trail data requested by the commission's enforcement division. The CFTC order said these failures led to delays in a CFTC investigation.

The CFTC order also noted Merrill Lynch took steps to revise its procedures for responding to regulatory data requests, including delegating employees to interpret the requests, provide data and independently assess the procedure and results.

"As this case shows, the CFTC will hold registrants accountable for their regulatory obligations," said James McDonald, director of the CFTC's Division of Enforcement. "Recordkeeping requirements are important for regulatory and enforcement purposes, and the failure to produce reliable audit trail data here impeded a CFTC investigation."

A spokesperson for Merrill Lynch said the company had no comment.

Bank of America Corp. (BAC) is the parent of Merrill Lynch.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

September 10, 2019 16:10 ET (20:10 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
La tua Cronologia
BIT
BMPS
Monte Pasc..
BITI
FTSEMIB
FTSE Mib
BIT
UCG
Unicredit
NASDAQ
AAPL
Apple
FX
EURUSD
Euro vs Do..
Le azioni che visualizzerai appariranno in questo riquadro, così potrai facilmente tornare alle quotazioni di tuo interesse.

Registrati ora per creare la tua watchlist personalizzata in tempo reale streaming.

Per accedere al tempo reale push di Borsa è necessario registrarsi.

Accedendo ai servizi offerti da ADVFN, ne si accettano le condizioni generali Termini & Condizioni

P: V:it D:20191207 16:22:49