The info provided on this site or in any communication containing a link to this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Merrill Lynch or its affiliates to any registration requirement within such jurisdiction or country. Neither the information, nor any opinion contained in this site constitutes a solicitation or offer by Merrill Lynch or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service...
References to "Merrill Lynch" are references to any company in the Merrill Lynch, Pierce, Fenner & Smith Incorporated group of companies, which are wholly owned by Bank of America Corporation. Securities and Insurance Products: Are Not FDIC Insured • Are Not Bank Guaranteed • May Lose Value • Are Not a Bank Deposit • Are Not a Condition to Any Banking Service or Activity • Are Not Insured by Any Federal Government Agency
- Disclaimer of Warranty and Limitation of Liability
- Routing Disclosures Made Pursuant to Rule 606 of SEC Regulation NMS
- Auction Rate Securities: A Description of Merrill Lynch's Auction Practices and Procedures
- USA PATRIOT Act
- Copyright or Other Notices
- Use in the United Kingdom (UK)
- Merrill Lynch International ("MLI")
- Bank of America Merrill Lynch International Designated Activity Company (BAMLI DAC)
- Bank of America, N.A., London Branch ("BANA London")
- Ecommerce Activities: Minimum Information Requirements for Merrill Lynch International
- Termination of Participation in FDIC's Transaction Account Guarantee Program
- Information on Reporting Errors and Canceling Certain Transfers Going Outside Of the U.S. (Remittance Transfers)
- Merrill Lynch Schedule of Miscellaneous Account and Service Fees Link opens in a Pdf file
- Merrill Edge Advised Schedule of Miscellaneous Account and Service Fees
- Merrill Edge Self Directed Schedule of Miscellaneous Account and Service Fees
- Merrill Guided Investing Schedule of Miscellaneous Account and Service Fees
- Merrill Guided Investing with an Advisor Schedule of Miscellaneous Account and Service Fees
- MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED ARTICLE 38(6) CSDR DISCLOSURE: U.S. LAW
- MSRB Rule G-10 Disclosure
- FINRA Rule 5270 Block Order Handling Disclosure
- Order Handling
Disclaimer of Warranty and Limitation of Liability
The information on this site is provided "AS IS". Merrill Lynch does not warrant the accuracy of the materials provided herein, either expressly or implied, for any particular purpose and expressly disclaims any warranties of merchantability or fitness for a particular purpose. Merrill Lynch will not be responsible for any loss or damage that could result from interception by third parties of any information made available to you via this site. Although the information provided to you on this site is obtained or compiled from sources we believe to be reliable, Merrill Lynch cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose. Neither Merrill Lynch, nor any of its affiliates, directors, officers or employees, nor any third-party vendor will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this site, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials, whether or not the circumstances giving rise to such cause may have been within the control of Merrill Lynch or of any vendor providing software or services support. In no event will Merrill Lynch, its affiliates or any such parties be liable to you for any direct, special, indirect, consequential, incidental damages or any other damages of any kind even if Merrill Lynch or any other party have been advised of the possibility thereof.
This material provides general information only. Neither the information nor any views expressed constitutes an offer or an invitation to make an offer, to buy or sell any securities or other investment or any options, futures or derivatives related to such securities or investments. It is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person who may receive this material. Investors should seek financial advice regarding the appropriateness of investing in any securities, other investment or investment strategies discussed in this report and should understand that statements regarding future prospects may not be realized. Investors should note that income from securities or other investments, if any, may fluctuate and that price or value of such securities and investments may rise or fall. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily a guide to future performance. Any information relating to the tax status of financial instruments discussed herein is not intended to provide tax advice or to be used by anyone to provide tax advice. Investors are urged to seek tax advice based on their particular circumstances from an independent tax professional.
Routing Disclosures Made Pursuant to Rule 606 of SEC Regulation NMS
Rule 606 of SEC Regulation NMS requires broker-dealers receiving non-directed client orders to publicly disclose, on a quarterly basis, the top execution venues to which such orders are routed for execution. Broker-dealers also must disclose material aspects of the relationships they maintain with the identified execution venues. The Rule 606 statistics for Merrill Lynch, Pierce, Fenner & Smith Incorporated are available for public review by clicking here. The Rule 606 statistics for Merrill Lynch, Pierce, Fenner & Smith Incorporated prior to Q1 2020 are available for public review by clicking here.
In response to the terrorist attacks on September 11, 2001, the US Congress passed the USA PATRIOT Act. Parts of this Act apply to the financial services industry and require certain financial institutions to request specific information from clients. Click here for further information.
You agree that, under any circumstance, you will not (and that you will not authorize or permit any other person to):
- sell, lease, transfer, recirculate, republish, redistribute, make available or otherwise provide access to this site, or any portion thereof or data thereon, to any person, including through oral, written, or electronic means whether as a demonstration or otherwise;
- photocopy, download or otherwise reproduce in any medium any portion of the site, except that you may, for your own personal use, download onto your personal computer system, or print a hard copy of, limited portions of content on the site, in whole or in part, provided that, in each case, all copyright and other proprietary notices are retained and complied with; and/or
- alter, decompile or reverse engineer any software component of the sites.
Where this communication constitutes a financial promotion it is issued and approved for distribution in the UK by Merrill Lynch International only to, and directed at, (a) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (b) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is only available to relevant persons and will be engaged in only with relevant persons. The UK compensation scheme and rules for the protection of private customers do not apply to the services provided or products sold by non-UK regulated affiliates.
The information herein was obtained from various sources. We do not guarantee its accuracy. Neither the information, recommendations or opinions expressed herein constitutes an offer to buy or sell any securities, futures, options or investment products. Merrill Lynch may trade for its own account in the securities or other products described here.
Foreign-currency-denominated investments are subject to fluctuations in exchange rates that could have a positive or adverse effect on the investor's return. Unless otherwise stated, any pricing information in this message is indicative only, is subject to change and is not an offer to deal. Where relevant, the price quoted is exclusive of tax and delivery costs. Any reference to the terms of executed transactions should be treated as preliminary and subject to our written confirmation.
This information is not necessarily a publication of Merrill Lynch Research (ML Research), although a ML Research report may be referenced as a link or as an attachment hereto. Any summary of ML Research is qualified in its entirety by the views of ML Research and the specific disclaimers associated with that report. This information is for discussion purposes and neither the information nor any opinions expressed constitutes a solicitation by us for the purchase or sale of any securities or other financial instruments. Merrill Lynch and any affiliate may trade for its own accounts in any of the securities of issuers mentioned herein or in related investments, and may also from time to time perform or solicit investment banking or other services for, or from, any entity mentioned herein.
Merrill Lynch does not operate as a banking entity in all jurisdictions. Some products and services may not be available in all jurisdictions or to all clients.
Merrill Lynch reserves the right to monitor electronic communications (subject to and in accordance with local laws).
This material is approved for issue in the U.K. by Bank of America Merrill Lynch International Designated Activity Company (BAMLI DAC London Branch).
Registered Office: Two Park Place, Hatch Street, Dublin 2, Ireland. Branch Office: 2 King Edward Street, London EC1A 1HQ.
In respect of U.K. investors, certain Merrill Lynch entities, including Merrill Lynch, Pierce, Fenner & Smith Inc. (MLPF&S), have no place of business in the U.K. and are not authorised or regulated by the UK. The U.K. rules for the protection of retail clients and the U.K. Financial Services Compensation Scheme do not apply to such business. As against such entities, the regulatory regime governing an investor's rights will be different to that of the U.K. Investors may, however, be entitled to similar protection in the jurisdiction in which the relevant entity is organised or resident.
Bank of America Merrill Lynch International d.a.c., London Branch ("BAMLI DAC London")
"Authorised by the Central Bank of Ireland and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority"
Bank of America, N.A., London Branch ("BANA London")
"Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority."
Where a service and/or information is provided by way of an electronic medium such as a website or e-mail ("e-commerce activity"), the following details are hereby disclosed to the recipients of an e-commerce activity provided by Merrill Lynch International:
The e-commerce activity is provided by Merrill Lynch International ("MLI") whose registered office is at 2 King Edward Street, London EC1A 1HQ, United Kingdom. MLI is authorised by the UK Prudential Regulation Authority (“PRA”) and regulated by the Financial Conduct Authority (“FCA”) and the Prudential Regulation Authority. MLI is entered in the FCA's register (Register Number 147150). MLI's VAT number is GB245122493. MLI is subject to the PRA and FCA rules and guidance, access to which can be gained via the following link: www.fca.org.uk/ and http://www.prarulebook.co.uk/
Beginning January 1, 2010, Bank of America will no longer participate in the FDIC's Transaction Guarantee Program. Bank of America's decision impacts Merrill Lynch clients enrolled in the Merrill Lynch Bank Deposit Program (MLBDP) Fully FDIC Insured Sweep option. Thus, after December 31, 2009, funds held in the MLBDP Fully FDIC Insured Sweep will no longer be guaranteed in full under the TAG Program, but will be insured up to $250,000 per depositor per Merrill Lynch Affiliated Bank under the FDIC's general deposit rules. As a reminder, since two Merrill Lynch affiliated banks participate in the MLBDP, clients can benefit from FDIC insurance up to $500,000 for individual accounts/$1,000,000 for joint accounts.
Information on Reporting Errors and Canceling Certain Transfers Going Outside Of the U.S. (Remittance Transfers) Errors
If you believe there has been an error or problem with a wire transfer initiated by you from your U.S. based brokerage account to a recipient outside of the United States (a "remittance transfer"), please contact your Financial Advisor by calling or writing to the office that services your account. If you do not know how to reach the office that services your account, call (800) MERRILL (637.7455).
If you believe there has been an error or problem with a wire transfer initiated by you from your Trust Management Account (“TMA”) to a recipient outside of the United States (a "remittance transfer"), please contact your trust team by calling or writing to us at the address below. If you do not know how to reach the trust team that services your account, call (800) 878.7878.
P.O. Box 830269
Dallas, TX 75283-0269
You must make contact, within 180 days of the date we promised to you that funds would be made available to the recipient.
When you contact your Financial Advisor or trust team, please tell him/her:
1. The error or problem with the transfer, and why you believe it is an error or problem;
2. The name of the person receiving the funds, and if you know it, his or her telephone number or address;
3. The dollar amount of the transfer; and
4. The confirmation code or number of the transaction.
We will determine whether an error occurred within 90 days after you contact your Financial Advisor or trust team and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation.
You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees.
In order to cancel, for a U.S. based brokerage account, you must contact your Financial Advisor within 30 minutes from the time you authorized the transfer. If you cannot reach your Financial Advisor, please call (800) MERRILL (637.7455).
In order to cancel, for a Trust Management Account (“TMA”), you must contact your trust team within 30 minutes from the time you authorized the transfer. If you cannot reach your trust team, please call (800) 878.7878
When you contact your Financial Advisor or trust team, you must provide him/her with information to help us identify the transfer you wish to cancel, including the amount and location where the funds were sent.
We will refund your money within three business days of your request to cancel a transfer as long as the funds have not already been picked up or deposited into a recipient's account.
For questions or complaints about remittance transfers sent through Merrill Lynch, you may contact:
Consumer Financial Protection Bureau
Merrill Lynch, Pierce, Fenner & Smith Incorporated is registered with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board (MSRB). An investor brochure that describes the protections that may be provided by MSRB rules and how to file a complaint with an appropriate regulatory authority is available on the MSRB website at www.msrb.org.
FINRA Rule 5270 Block Order Handling Disclosure
Pursuant to FINRA Rule 5270 regarding block transactions in any security or related financial instrument, we disclose that, Merrill Lynch may trade on a principal basis ahead of, or alongside, your block order at prices that would satisfy your order when such trades are for the purpose of fulfilling, or facilitating the execution of, your order. For these orders you may instruct us that you do not wish us to trade principally ahead of, or alongside, your order for these purposes. However, such instruction will limit the range of execution alternatives that we are able to offer.
A copy of Rule 5270 can be obtained at https://www.finra.org/. Please contact your financial advisor if you have questions regarding how your block orders are handled.
In the interest of increasing transparency regarding Merrill Lynch, Pierce Fenner & Smith Incorporated’s (“Merrill Lynch”) execution services in light of recent periods of extreme market volatility, we are providing you with additional information about our order handling procedures. Consistent with our duty of best execution, we handle your orders so as to obtain competitive execution prices, we regularly review the quality of our executions, we seek the most favorable terms reasonably available for your orders under prevailing market conditions, and we seek to execute your marketable orders fully and promptly. During volatile or extreme market conditions, we may determine to make changes to our order handling procedures when warranted, including cancelling orders or placing restrictions on your accounts, and we may do so without prior notice to you. If we determine to make changes to our order handling procedures, we will do so in a manner that is fair to our customers, consistent and reasonable, with a goal of preserving the continued execution of our customers’ orders consistent with our best execution obligations.
Market conditions such as high volumes of trading at the market opening or intra-day may cause delays in execution and executions at prices significantly away from the market price quoted or displayed at the time your order was entered. Similarly, because we may route your orders to other broker-dealers for execution, any adjustments made by those executing broker-dealers to their order handling procedures and any delays they experience may impact the execution of your orders. You may suffer market losses during periods of volatility in the price and volume of a particular security due to delays or interruptions in placing or executing orders.
Merrill Lynch executes various order types itself or through one or more of its affiliates. You should carefully review the differences among the order types you may place through Merrill Lynch and consider the order type you place. Stop orders are not guaranteed to execute as the order will not be triggered unless the stop price is reached and, once triggered, a stop order becomes a market order and execution prices can deviate significantly from the stop price, particularly during volatile or extreme market conditions. Similarly, limit orders will be executed only at the specified limit price or better and, as such, while limit orders can help manage some of the risks during volatile or extreme market conditions, limit orders are not guaranteed to execute. Further, we may reject or cancel orders with limit prices that we deem to be too far away from the market price.
Unless agreed otherwise with us in writing, you can place orders with Merrill Lynch during regular trading hours on days on which trading in securities generally occurs on the New York Stock Exchange (generally between 9:30 a.m. and 4:00 p.m. (ET), Monday through Friday). Orders placed outside of regular U.S. trading hours, including orders for foreign securities if your account is eligible for such trading, generally will not be executed until the next trading day. Similarly, Merrill Lynch’s support services for orders placed for foreign securities, such as changes to the order instructions or cancellations, will typically be limited to regular U.S. trading hours.