Brazilian prosecutors ask BNY Mellon unit to return $2.5 billion to local fund [Reuters]
The Bank of New York Mellon Corporation (BK)
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Source: Reuters
Brazilian prosecutors ask BNY Mellon unit to return $2.5 billion to local fund | Reuters Reuters Staff 1 Min Read SAO PAULO (Reuters) - Brazilian prosecutors asked on Thursday that the local unit of Bank of New York Mellon Corp ( BK.N ) return 8.2 billion reais ($2.56 billion) to local pension fund Postalis, according to a statement. Prosecutors said the Brazilian unit of BNY Mellon, which managed part of the assets held by the pension fund Postalis, caused losses to the fund. According to prosecutors, BNY has failed to monitor the risks Postalis was subject to as a result of investments and did not comply with local rules for asset allocation. BNY Mellon did not immediately respond to requests for comment. A Sao Paulo court now will decide if the bank will face charges. Reporting by Iuri Dantas and Carolina Mandl; Editing by Phil Berlowitz and Bill Trott All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2018 Reuters. All Rig
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BK
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- 4/16/24 - Beat
BK
Sec Filings
- 4/16/24 - Form 8-K
- 4/11/24 - Form 3
- 4/10/24 - Form 8-K
- BK's page on the SEC website