Merrill Lynch failed to report 68.5 million transactions between February 2014 and 2016, said the Financial Conduct Authority. Photo: BloombergLondon: Bank of America Corp.’s Merrill Lynch was fined £34.5 million ($45.5 million) for failing to report two years’ worth of exchange traded derivative transactions, in what UK regulators said was the first penalty under the European Markets Infrastructure Regulation (EMIR). The Financial Conduct Authority (FCA) said Merrill failed to report 68.5 million transactions between February 2014 and 2016. UK regulators are working to implement a raft of new regulations from around the world, including EMIR and Mifid. “We have re-evaluated and improved our related processes and can confirm that no clients were financially impacted as a result.” Bloomberg

Source: Mint October 23, 2017 10:18 UTC