Law360, New York (January 12, 2017, 7:32 PM EST) — The Bank of New York Mellon Corp. will pay $6.6 million to the U.S. Securities and Exchange Commission to settle allegations that it supplied investors with misinformation by excluding about $14 billion in collateralized loan obligation assets from certain reported calculations.
BNY Mellon allegedly exlcuded $14 billion in CLO assets without regulatory permission when it calculated its risk-based capital ratios and risk-weighted assets, the SEC said on Thursday. As a result, the bank made misstatements in reports to investors from 2010 to 2014, constituting violations of…
Source: Law360
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