Six Exchanges Collectively Fine Merrill Lynch $3 Million for Violating the SEC’s Market Access Rule and the Exchanges’ Respective Supervision Rules
Nasdaq | September 26, 2016
The Bats BZX Exchange, Inc., Bats BYX Exchange, Inc., Bats EDGX Exchange, Inc., New York Stock Exchange LLC, NYSE Arca, Inc., and The NASDAQ Stock Market LLC (collectively, the “exchanges”) announced today that, in disciplinary actions initiated by the Financial Industry Regulatory Authority (“FINRA”) on their behalf, the exchanges collectively fined Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch” or the “firm”) $3 million for violating the Securities and Exchange Commission’s (“SEC”) market access rule and the exchanges’ respective supervision rules.