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.
The Financial Industry Regulatory Authority said BofA Securities’ failures occurred from 2009 to October 2020, and included 26 options positions that exceeded applicable size limits by 20 percent to 2,900 percent.
