Defendant Name: Bank of New York Mellon Corporation

Defendant Type: Public Company
SIC Code: 6022
CUSIP: 06405810

Initial Case Details

Legal Case Name In the Matter of The Bank of New York Mellon Corporation
First Document Date 12-Jan-2017
Initial Filing Format Administrative Action
File Number 3-17768
Allegation Type Issuer Reporting and Disclosure

Violations Alleged

Exchange Act
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)

Resolutions

First Resolution Date 12-Jan-2017
Headline Total Penalty and Disgorgement $6,600,000

Related Documents:

2017-9 12-Jan-2017 Press Release--Administrative Proceeding
BNY Mellon Settles Charges Stemming From Miscalculations of Regulatory Capital Figures
On January 12, 2017, the SEC announced a settled order against BNY Mellon. According to the SEC: "Due to the miscalculations and the firm’s lack of internal accounting controls to ensure its financial statements were being prepared properly, BNY Mellon understated its risk-weighted assets and overstated certain risk-based capital ratios in quarterly and annual reports from the third quarter of 2010 to the first quarter of 2014."
34-79777 12-Jan-2017 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On January 12, 2017, the SEC instituted a settled proceeding against BNY Mellon. According to the SEC: "These proceedings arise out of BNY Mellon’s failure to properly include approximately $14 billion of certain assets of variable interest entities (the “VIEs”) in its calculation of risk-based capital ratios presented in annual and quarterly reports filed with the Commission."