FINRA hits Merrill Lynch with $225,000 fine for 1,600 missed customer complaints
Merrill Lynch will pay a $225,000 fine and take a censure, according to the Financial Industry Regulatory Authority, after FINRA said the firm did not correctly track or report customer complaints made in call-center surveys. The settlement, under case No. 2024081776401, covers the period from January 2018 to December 2023, with FINRA posting the action as of June 11.