{"id":1639678,"date":"2022-09-12T19:35:55","date_gmt":"2022-09-12T23:35:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1639678"},"modified":"2022-09-12T19:36:08","modified_gmt":"2022-09-12T23:36:08","slug":"bank-of-america-is-fined-5-million-for-failing-to-report-7-42-million-options-positions","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bank-of-america-is-fined-5-million-for-failing-to-report-7-42-million-options-positions\/","title":{"rendered":"Bank of America is fined $5 million for failing to report 7.42 million options positions"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbank-of-america-is-fined-5-million-for-failing-to-report-7-42-million-options-positions%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1639678&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters) -A U.S. regulator on Monday fined Bank of America Corp $5 million for failing to report over-the-counter options positions approximately 7.42 million times, making it harder to monitor markets for possible manipulative behavior.<\/p>\n<p>The Financial Industry Regulatory Authority said BofA Securities\u2019 failures occurred from 2009 to October 2020, and included 26 options positions that exceeded applicable size limits by 20% to 2,900%.<\/p>\n<p>FINRA also said the bank\u2019s supervisory system was not reasonably designed to comply with reporting obligations to the regulator\u2019s Large Options Positions Reporting platform from 2014 to October 2020.<\/p>\n<p>Bank of America did not admit or deny wrongdoing in agreeing to settle, and has corrected the causes underlying the reporting failures, FINRA said. The regulator also imposed a censure.<\/p>\n<p>In a statement, Bank of America said the matter arose from an \u201cundetected system issue in the reporting process,\u201d and that the Charlotte, North Carolina-based bank has added data quality checks to ensure it meets its reporting obligations.<\/p>\n<p>FINRA is an independent nonprofit that recently regulated about 3,400 securities firms.<\/p>\n<p> (Reporting by Jonathan Stempel in New YorkEditing by Matthew Lewis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2748010\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8B0OU-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8B0OU-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -A U.S. regulator on Monday fined Bank of America Corp $5 million for failing to report over-the-counter options positions approximately 7.42 million times, making it harder to monitor markets<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1639678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1639678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1639678"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1639678\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1639678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1639678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1639678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}