Defendant Name: Bank of New York Mellon Corporation

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

Document Reference: 34-79777

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 12-Jan-2017
Document Format Administrative Proceeding
File Number 3-17768
Allegation Type Issuer Reporting and Disclosure
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:

Civil Penalty

Individual:     $6,600,000.00 Shared:    

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."