December 21, 2018 BY Valentina Kirilova
Merrill Lynch fined $6m for selling Facebook, General Motors, LinkedIn IPOs to industry insiders
FINRA has informed the public that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. for improperly selling shares in initial public offerings (IPOs) to industry insiders. Merrill Lynch will pay a $5.5 million fine, and disgorge $490,530 it earned as revenue from the sales. IPOs included Facebook, Inc. (NASDAQ:FB), General Motors Co. (NYSE:GM),…
Read more