Updated:CHARLOTTE, N.C. —
The Financial Industry Regulatory Authority has fined Bank of America's Merrill Lynch unit for $8 million.
F.I.N.R.A. said the company failed to waive charges for mutual fund sales for some charities and retirement accounts.
The regulator has ordered Merrill Lynch to pay back $24.4 million to affected customers.
Sign up for breaking news alerts, click here.