Defendant Name: BNY Mellon Investment Adviser, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Bank of New York Mellon Corporation
SIC Code: 6022
CUSIP: 06405810

Initial Case Details

Legal Case Name In the Matter of BNY Mellon Investment Adviser, Inc.
First Document Date 23-May-2022
Initial Filing Format Administrative Action
File Number 3-20867
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Section 34(b) Investment Company Act

Resolutions

First Resolution Date 23-May-2022
Headline Total Penalty and Disgorgement $1,500,000

Related Documents:

IA-6032 23-May-2022 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940 and Section 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On May 23, 2022, the SEC instituted settled administrative and cease-and-desist proceedings against BNY Mellon Investment Adviser, Inc. stating: "This matter arises from material misstatements and omissions made by registered investment adviser BNYMIA concerning the consideration of Environmental, Social, and Governance ("ESG") principles to make investment decisions for certain mutual funds advised by BNYMIA (the "Overlay Funds")."
2022-86 23-May-2022 Press Release--Administrative Proceeding
SEC Charges BNY Mellon Investment Adviser for Misstatements and Omissions Concerning ESG Considerations
The SEC stated that: "[It] charged BNY Mellon Investment Adviser, Inc. for misstatements and omissions about Environmental, Social, and Governance (ESG)considerations in making investment decisions for certain mutual funds that it managed. To settle the charges, BNY Mellon Investment Adviser agreed to pay a $1.5 million penalty."