Bank of New York Mellon fined £126m by regulator for 'failings'

US banking giant found to have broken rules designed to protect more than £1tn worth of assets held on behalf of UK-based clients in event of collapse A US banking giant has been fined £126m by the City regulator for breaking rules designed to protect more than £1tn worth of assets held on behalf of UK-based clients in the event of a Lehman Brothers-style collapse. The Bank of New York Mellon was handed the penalty by the Financial Conduct Authority (FCA) over failings between November 2007 a...