Investment adviser Merrill Lynch (Merrill) and derivatives specialist Harvest Volatility Management LLC (Harvest) agreed to pay $9.3m for failing to follow “basic client instructions,” according to the SEC.
The charges arise from Harvest’s management of its Collateral Yield Enhancement Strategy (CYES), a variation of the Iron Condor investing strategy.
Free Trial
Register for free to keep reading.
To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.
- Unlimited access to industry insights
- Stay on top of key rules and regulatory changes with our Rules Navigator
- Ad-free experience with no distractions
- Regular podcasts from trusted external experts
- Fresh compliance and regulatory content every day