The Financial Industry Regulatory Authority fined Merrill Lynch, Pierce, Fenner & Smith, Inc. $2.8 Million for supervisory failures that resulted in overcharging customers $32 million in unwarranted fees, and for failing to provide certain required trade notices. For more info visit https://www.finra.org/media-center/news-releases/2012/finra-fines-merrill-lynch-28-million-overcharging-customers-32-million