U.S. Regulator Financial Industry Regulatory Authority Says It Fines Bank Of America Unit $24M For Treasuries Spoofing And Related Supervisory Failures
Portfolio Pulse from Benzinga Newsdesk
The Financial Industry Regulatory Authority (FINRA) has fined a Bank of America unit $24 million for engaging in Treasuries spoofing and for related supervisory failures.

November 30, 2023 | 3:10 pm
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Bank of America's unit has been fined $24 million by FINRA for Treasuries spoofing and supervisory failures, which could negatively impact investor sentiment.
The fine imposed by FINRA on a Bank of America unit for spoofing and supervisory failures is a significant penalty that could lead to negative investor sentiment in the short term. Such regulatory actions often result in reputational damage and could lead to increased scrutiny from regulators, possibly affecting the stock price negatively.
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