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Merrill Lynch Outsources Internal Policy Enforcement To Massachusetts Authorities

Which is charging $2.5 million for its troubles.
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Merrill Lynch Chief Compliance Officer (ex-officio) William Galvin

Who have now fined the company $2.5 million for not running some PowerPoint slideshows past compliance before showing them to a few hundred employees.

The two presentations were made to certain Merrill financial advisers in January 2013, drawing more than 300 attendees, according to a statement from Sec. Galvin. The presentations were put on before they were reviewed by Merrill’s compliance staff, in violation of the company’s policy, the statement said.

Merrill Lynch Fined $2.5 Million Over 2013 Boston Presentation [WSJ]
Merrill Lynch settles Massachusetts complaint for $2.5 million [Boston Globe]



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