SEC's ESG Task Force Nets First Fine In BNY Mellon Case

By Al Barbarino (May 23, 2022, 7:14 PM EDT) -- The U.S. Securities and Exchange Commission announced Monday it had fined a Bank of New York Mellon advisory unit $1.5 million over alleged environmental, social and governance disclosure failures, in the first announcement tying a settled order directly to the work of its ESG task force.

BNY Mellon Investment Adviser Inc., a wholly owned subsidiary of BNY Mellon, misled clients into thinking that certain fund investments had undergone so-called ESG quality reviews when in fact they had not, the SEC said.

"As this action illustrates, the commission will hold investment advisers accountable when they do not accurately describe their incorporation of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!