Citigroup Inc. said Friday it is being investigated for hiring practices that might violate the FCPA.
Entries in BNY Mellon (11)
This summer the SEC charged BNY Mellon with violating the FCPA by providing highly sought-after student internships to family members of foreign government officials who were directly affiliated with a Middle Eastern sovereign wealth fund. The enforcement action is a clear harbinger of what's to come.
During the third calendar quarter, there were five corporate FCPA enforcement actions and one individual resolution.
The Securities and Exchange Commission Tuesday said BNY Mellon agreed to pay $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act by providing valuable student internships to family members of foreign government officials affiliated with a Middle Eastern sovereign wealth fund.
The Financial Conduct Authority Tuesday fined two Bank of New York Mellon units a total of £126 million ($185 million) for failing to comply with the FCA custody rules for the safe-keeping of client money.
Bank of New York Mellon Corp. said the SEC has recommended an enforcement action for possible FCPA violations related to the bank's dealings with sovereign wealth funds.