In the Matter of Bank of America, N.A. and Merrill Lynch, Pierce, Fenner & Smith, Inc.
Securities and Exchange Commission
S.E.C. Rel. No. 9421 (2014)
Relevant factsFree
A federal district court in North Carolina entered judgment enjoining Bank of America, N.A. from violating various sections of the Securities Act of 1933, a judgment that would ordinarily disqualify Bank of America from using Regulation D securities exemptions going forward. Bank of America asked the SEC to waive that disqualification.
IssueFree
Whether the SEC may waive a Regulation D disqualification upon a showing of good cause and a determination that denying a Regulation D exemption is unnecessary under the circumstances.
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