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Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, 547 U.S. 71 (2006), was a case decided by the Supreme Court of the United States involving the extent to which state law securities fraud class action claims were preempted by the Securities Litigation Uniform Standards Act of 1998 (SLUSA).
The fiduciary rule was overturned in March by the 5th U.S. Circuit Court of Appeals. ... Merrill Lynch, along with JPMorgan Chase & Co, effectively banned brokerage retirement accounts last June ...
Merrill Lynch, Pierce, Fenner & Smith Inc. v. Manning, 578 U.S. ___ (2016), was a United States Supreme Court case in which the Court held, 8–0, that the jurisdictional test established by §27 of the Securities Exchange Act of 1934 is the same as 28 U.S.C. § 1331's [1] test for deciding if a case "arises under" a federal law.
The Uniform Fiduciary Income and Principal Act (UFIPA) is one of the uniform acts that have been proposed in an attempt to harmonize the law in all fifty U.S. states. [1] UFIPA was finalized and adopted by the Uniform Law Commission (ULC) in 2018. [2] UFIPA is an updated version of the Uniform Principal and Income Act (UPIA).
Former Merrill Lynch CEO, John Thain, gave out up to $4 billion in bonuses before Bank of America took the company over. Normally, bonuses are paid in January, but they were rushed to beat the Jan ...
In those states which adopted part or all of the Uniform Prudent Investor Act, investments must be chosen based on their suitability for each account's beneficiaries or, as appropriate, the customer. Although specific criteria for determining "suitability" do not exist, it is generally acknowledged, that the following items should be considered ...
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Later that day, Merrill Lynch was sold to Bank of America for 0.8595 share of Bank of America common stock for each Merrill Lynch common share, or about $50 billion or $29 per share. [ 50 ] [ 51 ] This price represented a 70.1% premium over the September 12 closing price or a 38% premium over Merrill's book value of $21 a share, [ 52 ] but also ...