BNY Mellon fined for hiring SWF officials’ relatives

The Securities and Exchange Commission (SEC) on 18 August announced that New York-based BNY Mellon has agreed to pay $14.8m to settle charges that it violated the Foreign Corrupt Practices Act (FCPA) by providing student internships to family members of two officials at a Middle Eastern sovereign wealth fund. Without admitting or denying the findings, the company has agreed to pay $8.3m in disgorgement, $1.5m in prejudgment interest and a $5m penalty