UK watchdog fines Bank of New York Mellon $185 million

April 15, 2015 9:13 AM

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LONDON, April 15 (Reuters) - Britain's markets regulator said on Wednesday it has fined Bank of New York Mellon 126 million pounds ($185.30 million) for failing to comply with custody rules.

BNY looks after assets on behalf of clients and the rules ensure that the money is safe even if the bank goes bust.

Also read: EU fines 3 banks $520 million over market rigging

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