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BNY Mellon Settles ‘Pre-Release ADRs’ Case for $54M

December 20, 2018 by Eugene Grygo

BNY Mellon Settles ‘Pre-Release ADRs’ Case for $54M

Custodian giant Bank of New York Mellon has agreed to pay more than $54 million to settle charges via the SEC that engaged in the “improper handling of ‘pre-released’ American Depositary Receipts (ADRs).” As the SEC notes, ADRs are “U.S. securities that represent foreign shares of a foreign company” that “require a corresponding number of… Read More >>

Filed Under: Securities Operations, Buy-Side, Data Management, Operational Risk, Risk Management, Governance, Standards, Performance Measurement, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Compliance, Regulatory Reporting Tagged With: ADRs, BNY Mellon, pre-released ADRs, SEC, Securities Act violation, settlement

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