Merrill Lynch to pay almost $11 Million in SEC short-sale case

Merrill Lynch, part of Charlotte-based Bank of America, agreed to pay almost $11 million to resolve U.S. Securities and Exchange Commission claims that it used inaccurate data when it executed certain short sale orders.

The SEC announced the settlement in a statement Monday.

Bank of America spokesman Bill Halldin said the bank has taken steps to improve its internal controls for the execution of short sales.

This story was originally published June 1, 2015 at 4:27 PM with the headline "Merrill Lynch to pay almost $11 Million in SEC short-sale case."