Citing 16 breaches of the regulations governing fund administration outsourcing, the Central Bank of Ireland fined BNY Mellon Fund Services DAC a total of €10,780,000 ($11.9 million), making it the largest monetary penalty to date ever imposed on a fund services provider in Ireland. “BNY DAC is the second-largest fund administrator in Ireland with just… Read More >>
AIB Grapples with AML Fine and Pending IPO
As talk swirls around its initial public offering (IPO), Allied Irish Banks (AIB) was fined more than €2.2 million ($2. 4 million) by the Irish central bank over compliance violations relating to anti-money laundering (AML) and terrorist financing laws. The fine is the second highest imposed by the central bank for AML after Ulster Bank’s… Read More >>
