Defendant Name: Bank of New York Mellon Corporation

Defendant Type: Public Company

Document Reference: 2017-9

Document Details

Legal Case Name In the Matter of the Bank of New York Mellon Corporation
Document Name BNY Mellon Settles Charges Stemming From Miscalculations of Regulatory Capital Figures
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 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."

Disgorgement & Penalty Information

Resolutions
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution

Related Documents:

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."