Image:
The firm agreed to a cease-and-desist order and a censure
BNY Mellon’s Investment Adviser arm has agreed to pay the US Securities and Exchange Commission $1.5m in penalties following “misstatements and omissions” about its ESG approach to managing funds.
According to a statement issued by the SEC, BNY Mellon Investment Adviser suggested it had embedded ESG quality reviews into all of its funds, which the federal agency found was "not always the cas...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
