$26 million Against Merrill Lynch to New Hampshire

Merrill Lynch

New Hampshire ordered Merrill Lynch, a subsidiary of Bank of America, to pay $26.25 million in fines and restitution to the state and to the former Governor of New Hampshire. The governor claimed that he lost money through a former broker. This lead to a settlement for the allegations including unauthorized and excessive trading.

This case against Merrell is the largest monetary sanction in the state’s history and the second-largest FINRA settlement in over ten years.

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