NASD Hits Merrill With $5M Fine for Small-Investor Violations

Hume, Lynn
March 2006
Bond Buyer;3/16/2006, Vol. 355 Issue 32340, p5
Trade Publication
The article reports on the fine levied by the National Association of Securities Dealers on Merrill Lynch, Pierce, Fenner & Smith Inc. in the United States. The organization need to pay five million dollars and take corrective measures to settle supervisory, registration, suitability and sales contest violations.


Related Articles

  • NASD Fines Merrill $5M For Fund Sales Contests. Barney, Lee // Money Management Executive;3/20/2006, Vol. 14 Issue 11, p1 

    The article reports that NASD has fined Merrill Lynch Pierce, Fenner & Smith for supervisory failures, impermissible sales contests, unsuitable mutual fund switches and other violations between 2001 and 2004, at two of its call centers, in Hopewell, New Jersey and Jacksonville, Florida. The...

  • Merrill Lynch campaign targeted at women stresses investment options.  // Marketing News;11/30/1979, Vol. 13 Issue 11, p11 

    Deals with the efforts of Merrill Lynch Pierce Fenner & Smith Inc. to target the women's market in the U.S. financial services sector in 1979. Launching of an advertising campaign; Sponsorship of educational seminars; Data on women consumers.

  • Bring Main Street back to Wall Street. SMITH JR., WINTHROP H. // Westchester County Business Journal;3/16/2015, Vol. 51 Issue 11, p20 

    The author informs about the role of investment firm Merrill Lynch, Pierce, Fenner & Beane in helping customers thinking to invest in the stock market through training of brokers and conducting free seminars and publication and the need to bring trust for Wall Street in the eyes of Americans.

  • NASD Fines 3 Firms Over Fund Charges. Hume, Lynn // Bond Buyer;12/20/2005, Vol. 354 Issue 32282, p5 

    The article reports that the National Association of Securities Dealers (NASD) has fined three firms, namely, Merrill Lynch Pierce Fenner & Smith Inc., Wells Fargo Investments LLC, and Linsco/Private Ledger Corp. in connection with their sales of Class B and Class C mutual fund shares. Merrill...

  • In brief.  // Fairfield County Business Journal;12/11/2006, Vol. 45 Issue 50, p6 

    The article offers news briefs related to finance in Connecticut. Cara Therapeutics Inc. secured $19 million for its relocation to Fairfield County. Merrill Lynch Pierce Fenner & Smith Inc. has been fined by the Department of Banking due to its claimed participation in market-timing trades at a...

  • Last Act in the Cliff-Hanger?  // Time;11/9/1970, Vol. 96 Issue 19, p92 

    The article looks at the rescue of Goodbody & Co., the fifth largest brokerage house of U.S. The undercapitalization of the firm almost lead to its liquidation that threatened the whole securities industry and an emergency meeting called at the New York Stock Exchange of the twenty richest...

  • Merrill to Pay $13.5M to Settle Market-Timing Abuse Charges. O'Brien, Elizabeth // Bond Buyer;3/10/2005, Vol. 351 Issue 32087, p32 

    Reports that Merrill Lynch Pierce Fenner & Smith Inc. has agreed to pay $13.5 million for inadequately supervising three financial advisers who engaged in market timing on behalf of hedge fund Millennium Partners LP. Use of the settlement funds by the states of New Jersey and Connecticut for...

  • MSS market eventually could support 30 companies. Mooney, Elizabeth V. // RCR;05/11/98, Vol. 17 Issue 19, p22 

    States that according to projections by the Merrill Lynch, Pierce, Fenner and Smith Incorporated, the revenues of the global satellite industry will increase from $38 billion in 1997 to $171 billion in 2007. Factors which will contribute to the increase in revenues; Reference to the report...

  • Brokerage targets small business. Ghering, Mike // Grand Rapids Business Journal;11/11/96, Vol. 14 Issue 46, pB-7 

    Reports on brokerage firm Merrill Lynch, Pierce, Fenner and Smith Inc.'s focus on the financial planning market for small business.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics