A subsidiary of Bank of America (BofA) agreed to pay $3 million and take remedial measures to resolve allegations that its surveillance system didn’t detect manipulative trading, the Financial Industry Regulatory Authority (FINRA) said.
BofA Securities (BofAS) will pay $669,000 to FINRA and the remainder to exchanges, including Choe BYX and Nasdaq, the self-regulatory agency announced in a disciplinary action Wednesday.
