Dominion Lending Centres Clearlease Reports Hong Kong securities watchdog fines Bank of America-Merrill Lynch unit over client sales

Dominion Lending Centres Clearlease Reports Hong Kong securities watchdog fines Bank of America-Merrill Lynch unit over client sales

VANCOUVER, BC – (May 12, 2011) Clearlease Reports Hong Kong’s securities watchdog said Thursday it fined a unit of Bank of America Corp. 3 million Hong Kong dollars ($386,000) over the sales of some financial products to clients in 2007.

The Securities and Futures Commission said Thursday it also issued a reprimand to Merrill Lynch (Asia Pacific) Ltd. over the sales of the index-linked notes to 72 clients.

The SFC said an investigation found Merrill Lynch failed to “properly assess the financial situation and investment objectives” of 40 clients.

The watchdog was also concerned that key product information wasn’t given to clients until after they had agreed to invest.

The company has agreed to buy back the notes from clients who still own them or make top-up payments to those who redeemed them for less than they invested. A total of $3.7 million will be spent on buying back the notes, which are structured investment products linked to Japanese stock indexes.

Merrill Lynch declined comment. It was bought by Bank of America in 2009.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Hong Kong securities watchdog fines Bank of America-Merrill Lynch unit over client sales

VANCOUVER, BC – (May 12, 2011) Clearlease Reports Hong Kong’s securities watchdog said Thursday it fined a unit of Bank of America Corp. 3 million Hong Kong dollars ($386,000) over the sales of some financial products to clients in 2007.

The Securities and Futures Commission said Thursday it also issued a reprimand to Merrill Lynch (Asia Pacific) Ltd. over the sales of the index-linked notes to 72 clients.

The SFC said an investigation found Merrill Lynch failed to “properly assess the financial situation and investment objectives” of 40 clients.

The watchdog was also concerned that key product information wasn’t given to clients until after they had agreed to invest.

The company has agreed to buy back the notes from clients who still own them or make top-up payments to those who redeemed them for less than they invested. A total of $3.7 million will be spent on buying back the notes, which are structured investment products linked to Japanese stock indexes.

Merrill Lynch declined comment. It was bought by Bank of America in 2009.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Hong Kong securities watchdog fines Bank of America-Merrill Lynch unit over client sales

VANCOUVER, BC – (May 12, 2011) Clearlease Reports Hong Kong’s securities watchdog said Thursday it fined a unit of Bank of America Corp. 3 million Hong Kong dollars ($386,000) over the sales of some financial products to clients in 2007.

The Securities and Futures Commission said Thursday it also issued a reprimand to Merrill Lynch (Asia Pacific) Ltd. over the sales of the index-linked notes to 72 clients.

The SFC said an investigation found Merrill Lynch failed to “properly assess the financial situation and investment objectives” of 40 clients.

The watchdog was also concerned that key product information wasn’t given to clients until after they had agreed to invest.

The company has agreed to buy back the notes from clients who still own them or make top-up payments to those who redeemed them for less than they invested. A total of $3.7 million will be spent on buying back the notes, which are structured investment products linked to Japanese stock indexes.

Merrill Lynch declined comment. It was bought by Bank of America in 2009.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk



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