U.S. SEC charges Bank of America subsidiary $15 million for RMBS trader lapses

WASHINGTON (Reuters) – The Securities and Exchange Commission on Tuesday said Bank of America subsidiary Merrill Lynch, Pierce, Fenner & Smith Inc. will pay $15 million to settle charges that staff misled clients into overpaying for Residential Mortgage Backed Securities (RMBS).

Leave a Reply

Read the original at Reuters: Business News.