Bank of New York Mellon Corporation
Approved Evidence
BNY Mellon paid $6.6 million over regulatory capital books-and-records and internal-control failures
The SEC imposed a $6.6 million civil monetary penalty on Bank of New York Mellon Corporation over books-and-records and internal accounting control deficiencies associated with the calculation and reporting of risk-based regulatory capital ratios. SEC regulatory records state that staff alleged violations of federal securities-law books-and-records and internal-control requirements in connection with regulatory capital ratios presented in annual and quarterly reports. Source: https://www.sec.gov/Archives/edgar/data/1285911/000128591120000006/xslFTA1X01/primary_doc.xml
BNY Mellon paid $14.8 million over internships provided to relatives of foreign officials
The SEC brought an enforcement action against BNY Mellon concerning internships provided to relatives of officials associated with foreign sovereign wealth funds. SEC regulatory records describe Foreign Corrupt Practices Act violations connected with providing a limited number of internships to relatives of sovereign wealth fund officials. BNY Mellon was ordered to pay approximately $14.8 million, including disgorgement, prejudgment interest and a $5 million civil monetary penalty. Source: https://www.sec.gov/Archives/edgar/data/1285911/000128591126000002/xslFTA1X01/primary_doc.xml
BNY Mellon paid $714 million and admitted giving foreign-exchange clients worst rates despite promising best execution
Bank of New York Mellon agreed in March 2015 to a $714 million global settlement resolving federal, New York State, private customer and regulatory claims concerning fraudulent foreign-exchange practices. Federal prosecutors alleged that BNY Mellon represented that customers would receive competitive or best rates and best execution while actually assigning prices at or near the worst interbank rates available during the trading day or session. BNY Mellon admitted and accepted responsibility for conduct alleged in the civil fraud lawsuits, agreed to terminate employment relationships with responsible executives and reform its practices. Sources: https://www.justice.gov/archive/usao/nys/pressreleases/March15/BNYMSettlement2.php ; https://www.justice.gov/usao-sdny/pr/us-attorney-s-office-southern-district-new-york-recovers-nearly-12-billion-forfeitures