SEC, Finra Fine Merrill Lynch $12 Million Over Anti-Money-Laundering Failures

Reported by Kenneth Corbin Government and industry regulators have fined Merrill Lynch $12 million over allegations that the firm failed for more than a decade to file the required Suspicious Activity Reports (SARs) flagging transactions that it knew or suspected were being used to support criminal activity. The Securities and Exchange Commission and brokerage industry […]