CFTC fines Merrill Lynch $1.2 million for supervision failures

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CFTC fines Merrill Lynch $1.2 million for supervision failures

CFTC 230

The US Commodity Futures Trading Commission has issued an order filing and settling charges against broker-dealer Merrill Lynch for allegedly failing to diligently supervise its officers', employees', and agents' processing of futures exchange and clearing fees charged to its customers. The Commission’s order requires the firm pays a $1.2mn civil monetary penalty.

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