FINRA Fines Merrill Lynch $6 Million for Longstanding AML Program Failures

Firm Failed to File Nearly 1,500 Suspicious Activity Reports

WASHINGTON—FINRA announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6 million for failing to establish and implement policies, procedures, and internal controls reasonably designed to cause the reporting of suspicious transactions as required by the Bank Secrecy Act.

2021072679901 David R. Geake CRD 3088891 AWC gg (2023-1691626813100).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2021072679901 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: David R. Geake (Respondent) Former General Securities Representative CRD No. 3088891 Pursuant to FINRA Rule 9216, Respondent David R. Geake submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

2023078100501 Billy P. Stanage, Jr. CRD 4450674 AWC gg (2023-1691626813120).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2023078100501 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Billy P. Stanage, Jr. (Respondent) Former General Securities Representative CRD No. 4450674 Pursuant to FINRA Rule 9216, Respondent Billy P. Stanage, Jr. submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

2019061789201 Christopher Harrington Jr. CRD 5250991 AWC vr (2023-1691626813104).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2019061789201 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Christopher Harrington, Jr. (Respondent) Former General Securities Representative CRD No. 5250991 Pursuant to FINRA Rule 9216, Respondent Christopher Harrington, Jr. submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

2022075178601 Ariya Pejouhesh CRD 5059630 AWC vr (2023-1691626813102).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2022075178601 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Ariya Pejouhesh (Respondent) General Securities Representative CRD No. 5059630 Pursuant to FINRA Rule 9216, Respondent Pejouhesh submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.
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