August 20, 2018 BY LeapRate Staff
Merrill Lynch pays $8.9M to settle conflict of interest advisory charges
The U.S. Securities and Exchange Commission (SEC) has announced that Merrill Lynch, Pierce, Fenner & Smith has agreed to pay approximately $8.9 million to settle charges that it failed to disclose a conflict of interest arising out of its own business interests in deciding whether to continue to offer clients products managed by an outside third-party advisory…
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