Merrill Lynch to Pay $15.7 Million, Enhance Compliance After Misleading Customers
Merrill Lynch will pay more than $15 million to settle charges that its employees misled customers into overpaying for residential mortgage-backed securities.
June 12, 2018 at 04:25 PM
1 minute read
The original version of this story was published on Corporate Counsel
Photo: Diego M. Radzinschi/NLJ lessons Merrill Lynch, Pierce, Fenner & Smith Inc. said residential mortgage-backed securities order
- Enhancing training and policies prohibiting false and misleading statements.
- Creating an electronic communications monitoring tool to search for false or misleading statements.
- Enhancing policies and training on prohibiting excessive commissions, and improving surveillance procedures to spot excessive commissions.
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