for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

BNY Mellon to pay more than $54 mln for improper handling of ADRs- SEC

WASHINGTON, Dec 17 (Reuters) - The top U.S. securities regulator on Monday said that Bank of New York Mellon will pay more than $54 million to settle charges of improper handling of “pre-released” American Depositary Receipts, U.S. securities representing foreign shares of a foreign company.

BNY Mellon agreed to disgorge $29.3 million in alleged ill-gotten gains, as well as pay prejudgment interest and a penalty, without admitting or denying the findings, the Securities and Exchange Commission said.

Reporting by Lisa Lambert

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up