UK watchdog fines BoA's Merrill Lynch $20 million for reporting failures

April 22, 2015 9:14 AM

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LONDON, April 22 (Reuters) - Britain's markets regulator has fined Bank of America Merrill Lynch a record 13.2 million pounds ($20 million) for failing to report transactions properly over a seven year period.

The Financial Conduct Authority (FCA) said on Wednesday that Bank of America's Merrill Lynch International arm incorrectly reported 35 million transactions and failed to report another 121,387 transactions between November 2007 and November 2014.

Also read: EU fines 3 banks $520 million over market rigging

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