Defendant Name:
Bank of New York Mellon Corporation
Defendant Type:
Public Company
SIC Code:
6022
CUSIP:
06405810
Document Reference:
34-75720
Document Details
Legal Case Name
In the Matter of The Bank of New York Mellon Corporation
Document Name
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
Document Date
18-Aug-2015
Document Format
Administrative Proceeding
AAER
3679
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On August 18, 2015, the SEC instituted cease-and-desist proceedings against The Bank of New York Mellon Corporation. BNY Mellon consented to the entry of the order without admitting or denying the SEC's allegations. According to the Commission: "This matter concerns violations of the anti-bribery and internal accounting controls provisions of the Foreign Corrupt Practices Act...by BNY Mellon. The violations took place during 2010 and 2011, when employees of BNY Mellon sought to corruptly influence foreign officials in order to retain and win business managing and servicing the assets of a Middle Eastern sovereign wealth fund."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$8,300,000.00
Shared:
Civil Penalty
Individual:
$5,000,000.00
Shared:
Pre-Judgment Interest
Individual:
$1,500,000.00
Shared:
