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Violation Tracker Individual Record

Company: Harvest Volatility Management LLC
Penalty: $5,500,000
Year: 2024
Date: September 25, 2024
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Securities and Exchange Commission announced charges against Harvest Volatility Management LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. for exceeding clients' designated investment limits over a two-year period beginning in March 2016, which resulted in clients paying higher fees, being subjected to increased market exposure, and incurring investment losses. As part of the separate settlements, Harvest and Merrill agreed to pay a combined $9.3 million in penalties and disgorgement to resolve the SEC's claims.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.