The Financial Industry Regulatory Authority (FINRA) on Wednesday fined Merrill Lynch $6.25 million and the firm will pay $780,000 in restitution for inadequate supervision of certain trading practices. The sanctions are related to oversight of accounts involving “leverage” or borrowing and high concentrations in Puerto Rican securities that led to losses. The firm also agreed to pay restitution to 22 customers as part of an agreement in which it neither admitted nor denied charges. If you suffered losses with Merrill Lynch, please call our securities law firm today at 312-332-4200 to speak to one of our attorneys about your options of recovering your losses on a contingency fee basis. The call is free with no obligation.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.