SEC Staff to Recommend Action Against BofA
- Share via
Bank of America Corp. disclosed that the Securities and Exchange Commission staff planned to recommend enforcement action against its brokerage unit because of improper stock trading.
In a regulatory filing, the Charlotte, N.C.-based company said the agency had been conducting a formal investigation into trading and research at Banc of America Securities, specifically events at its San Francisco office from 1999 to 2002.
Eloise Hale, a Banc of America Securities spokeswoman, said, “We disagree with the SEC conclusions and intend to contest the staff’s recommendation.”
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
