Tagged with "Bank of America"

Merrill Lynch / Bank of America Changes Broker Bonus Payments for 2015

Posted on December 28th, 2014 at 6:40 PM

Merrill Lynch has told its brokers that they will receive higher bonus payments in 2015 for attracting new clients and assets, but will eliminated pay for servicing clients with less than $250,000 in assets. 

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Merrill Lynch / Bank of America Wants Former Reps to Return to Merrill

Posted on December 27th, 2014 at 1:33 PM

Merrill Lynch is offering former brokers 400% transition deals to return to the firm and sing its praises.

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March 11, 2025
Former CNBC Analyst Pleads Guilty to $2.7 Million Securities Fraud Scheme

James Arthur McDonald Jr., a former financial advisor and frequent CNBC guest analyst, has agreed to plead guilty to securities fraud, admitting to defrauding investors out of at least $2.7 million, as reported by ThinkAdvisor. The felony charge carries a maximum sentence of 20 years in federal prison.

March 10, 2025
Wells Fargo and Merrill Lynch Settle SEC Charges Over Cash Sweep Program Policies

The Securities and Exchange Commission (SEC) has announced settlements with Wells Fargo Clearing Services LLC, Wells Fargo Advisors Financial Network LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated over allegations that they failed to implement proper policies and procedures for their cash sweep programs.

March 7, 2025
FINRA Orders $8.2 Million in Restitution for Mutual Fund Customers

FINRA has directed Edward Jones, Osaic Wealth, Inc., and Cambridge Investment Research, Inc. to pay more than $8.2 million in restitution to customers harmed by failures to provide mutual fund sales charge waivers and fee rebates.