FINRA fines Merrill Lynch $825K over order execution supervision lapses
By 
Kyle Brasseur2024-05-10T16:55:00
Merrill Lynch was assessed an $825,000 penalty by the Financial Industry Regulatory Authority (FINRA) for alleged supervision failures regarding the execution of marketable equity orders entered into its electronic order systems.
The firm failed to establish and maintain written supervisory procedures reasonably designed to achieve compliance with its best execution obligations, FINRA said in a disciplinary notice published Thursday.
The self-regulatory organization found Merrill Lynch violated FINRA Rules 3110 and 2010.
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