BNY Mellon paid $14.8 million over internships provided to relatives of foreign officials

Summary

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