The Financial Industry Regulatory Authority fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6.25 Million and the firm will pay approximately $780,000 in restitution for inadequately supervising its customers' use of leverage in their Merrill brokerage accounts. For more info visit https://www.finra.org/media-center/news-releases/2016/finra-sanctions-merrill-lynch-7-million-inadequate-supervision