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Merrill Lynch Fined $45M for Derivatives Reporting Failures

November 2, 2017 by Lynn Strongin Dodds

Merrill Lynch Fined $45M for Derivatives Reporting Failures

The U.K.’s Financial Conduct Authority (FCA) has fined Bank of America — Merrill Lynch (BAML) £34.5 million ($45.7 million) for failing to report derivatives transactions between 2014 and 2016. The enforcement action — which relates to 68.5 million exchange traded derivative transactions — is the first of its kind against a firm for failing to… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Derivatives Processing, Clearing, Middle-Office, Operational Risk, Risk Management, Governance, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Derivatives, Regulatory Compliance, Regulatory Reporting, Industry News Tagged With: anti-money laundering (AML), BAML, Bank of America, derivatives reporting, EMIR, EMIR regulation, European Markets Infrastructure Regulation, Financial Conduct Authority (FCA), Mark Steward, Merrill Lynch, Rio Tinto

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