Securities Lawyers Blog
We represent clients of financial advisors and brokerage firms in investment disputes against their firms, such as BNY Mellon Capital Markets, LLC. Our services cover a wide spectrum of broker misconduct, including unsuitable investments, failure to supervise, and losses in various investment products. Our firm can analyze your brokerage accounts, determine the extent of your investment losses, and understand the issues and remedies available.
BNY Mellon Capital Markets, LLC is the broker-dealer of BNY that provides securities underwriting, distribution, and trading, with a focus on fixed income execution and access to more than 60 bond markets. Formed in Delaware in 1999, the firm is an indirect wholly owned subsidiary of The Bank of New York Mellon Corporation and clears most transactions through its affiliate Pershing LLC.
BNY Mellon Capital Markets, LLC – By the Numbers:
- CRD #: 17454
- Regulatory Events: 25
- Arbitration Events: 1
- Broker Employees: 176
BNY Mellon Capital Markets, LLC – In the News:
FINRA v. BNY Mellon Capital Markets, LLC (Case #2024080120101) – From April 2022 through May 2024, in approximately 1,725 instances, BNY Mellon Capital Markets reported transactions to the MSRB’s Real Time Transaction Reporting System (RTRS) without the required special condition indicator for transactions in new issue municipal securities, in violation of MSRB Rule G-14. From April 2022 through at least May 2024, the firm violated MSRB Rule G-27 by failing to establish and maintain a supervisory system, including written procedures, reasonably designed to ensure compliance with the firm’s reporting obligation under MSRB Rule G-14. For these violations, BNY Mellon Capital Markets is censured and fined $60,000.
FINRA v. BNY Mellon Capital Markets, LLC (Case #2015047655501) – This AWC resolves three reviews by the Department of Market Regulation’s TRACE Agency/SP staff. Two of the reviews involved TRACE-eligible Securitized Products (“SP”) during four calendar quarters between July 2015 and September 2016, and the third involved TRACE-eligible Agency Debt securities during the period from July 1, 2016, through September 30, 2016. During the SP review periods, the firm failed to report to TRACE 326 transactions in TRACE-eligible SP within the time prescribed by Rule 6730, and during the Agency Debt review period, the firm failed to timely report transactions in TRACE-eligible Agency Debt. As a result, the firm violated FINRA Rules 6730(a) and 2010. In addition, during these review periods, the firm’s supervisory system was deficient and, as a result, the firm violated FINRA Rules 3110 and 2010.
FINRA v. BNY Mellon Capital Markets, LLC (Case #2015044233001) – In connection with Review No. 20150442330, the Trading and Financial Compliance Examinations (“TFCE”) staff of the Department of Market Regulation conducted a 2015 TFCE Cycle Examination of certain trading activity of the firm, primarily for the trade dates of June 17-18, 2015 (the “review period”). As described further below, during the review period, the firm violated FINRA Rules 4511, 7450, 2010, and 3110, and SEC Rules 17a-3 and 606.
Gana Weinstein LLP has successfully handled hundreds of customer investment disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.