Tagged with "Bank of America"

FINRA Bars Former Bank of America Advisor For Allegedly Misappropriating Client Funds

Posted on February 3rd, 2022 at 11:44 AM
FINRA Bars Former Bank of America Advisor For Allegedly Misappropriating Client Funds

The Financial Industry Regulatory Authority (FINRA) has barred a former Bank of America advisor after he allegedly forged a client’s signature and misappropriated $58,000 of client funds.

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Bank of America Continues to Rebrand Merrill Lynch

Posted on February 28th, 2019 at 10:31 AM
Bank of America Continues to Rebrand Merrill Lynch

Bank of America, which bought the wirehouse, Merrill Lynch during the financial crisis of 2008, has announced that it has plans to rebrand its wealth management operations by dropping “Lynch” out of its name.

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Bank of America’s Merrill Lynch Unit to Pay a $15.7 Million Settlement for Failing to Properly Supervise Mortgage Bond Transactions

Posted on June 18th, 2018 at 4:28 PM
Bank of America’s Merrill Lynch Unit to Pay a $15.7 Million Settlement for Failing to Properly Supervise Mortgage Bond Transactions

Bank of America Corp.’s Merrill Lynch unit has agreed to pay a total of $15.7 million to settle a lawsuit filed by the SEC over allegations that it failed to properly supervise traders who persuaded clients to overpay for mortgage bonds.

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Merrill Lynch Fires Two Brokers in Colorado

Posted on May 14th, 2015 at 2:46 PM
Merrill Lynch Fires Two Brokers in Colorado

According to AdvisorHUB.com, Bank of America Merrill Lynch fired two experienced financial advisers in Colorado.

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Wirehouse Advisors' Tactical Play on Currency ETFs

Posted on May 7th, 2015 at 12:02 PM
Wirehouse Advisors' Tactical Play on Currency ETFs

According to a top investment strategist at Bank of America Merrill Lynch, more financial advisers are investing in funds that access European stocks while muting currency swings. That’s because the European Central Bank began a “quantitative easing” program that will inject a planned €1.1 trillion into the economy by September 2016.   

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NFL Star Dwight Freeney Sues Bank of America for Negligence

Posted on April 7th, 2015 at 9:54 AM
NFL Star Dwight Freeney Sues Bank of America for Negligence

NFL star Dwight Freeney is suing Bank of America and a Merrill Lynch financial adviser Michael Bock for allegedly defrauding him of over $20 million in an investment fraud.

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Bank Of America-Merrill Lynch Ready to Exit Protocol

Posted on March 10th, 2015 at 11:33 AM
Bank Of America-Merrill Lynch Ready to Exit Protocol

According to AdvisorHUB, all signs show that Bank of America/Merrill Lynch are ready to exit the protocol for broker recruiting.

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Whistleblower Receives $57M Award in Second Lawsuit Against Bank of America

Posted on February 4th, 2015 at 10:57 AM
Whistleblower Receives $57M Award in Second Lawsuit Against Bank of America

An ex-Countrywide Financial Corp. executive, will receive $57 million for a second whistleblower lawsuit accusing Bank of America Corp of bilking Freddie Mac and Fannie Mae through the sale of home loans. 

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The 10 Biggest Brokerage Industry Regulatory Fines in 2014

Posted on January 16th, 2015 at 9:47 AM

FINRA handed out some hefty fines to financial firms in 2014. Click to see 10 of the biggest fines handed out this year, presented in order of the amount of the fine.

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Staten Island Man Charged in $9 million Investment Fraud

Posted on December 29th, 2014 at 10:47 AM

Nicholas Spinelli, a Staten Island businessman, was charged in an investment fraud with stealing more than $9 million from 300 investors. 

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