SEC Hits Merrill Lynch with $7.5M Fine for Missing Suspicious Activity Reports

Federal securities regulators announced Monday that Merrill Lynch, the investment arm of Bank of America, has been hit with a $7.5 million fine for neglecting to file a significant number of required suspicious activity reports.

The U.S. Securities and Exchange Commission said the violations spanned more than four years, from April 2020 through September 2024.