Securities Lawyers Blog
The law offices of Gana Weinstein LLP represents investors in investment disputes with their financial advisors or brokerage firms, such as BNY Mellon Securities Corporation. Many investors do not recognize financial advisor misconduct when it happens, but there are steps that can be taken to recover investment losses. There are many different types of broker misconduct, including breach of fiduciary duty, failure to supervise, misrepresentation, and churning. The attorneys at Gana Weinstein LLP can analyze your investments to determine if there was actionable misconduct by the broker or brokerage firm.
BNY Mellon Securities Corporation is the distributor for BNY and Dreyfus mutual funds, including the Dreyfus money market funds offered to institutional investors and intermediaries. Formerly known as MBSC Securities Corporation, the firm is based at 240 Greenwich Street in New York and is an affiliate of Mellon Investments Corporation within The Bank of New York Mellon Corporation.
BNY Mellon Securities Corporation – By the Numbers:
- CRD #: 231
- Regulatory Events: 5
- Arbitration Events: 8
- Broker Employees: 407
BNY Mellon Securities Corporation – Investment Advisors:
- SEC #: 54739
- Assets Under Management: $8,448,676,677
- ADV Form Employee: 253
BNY Mellon Securities Corporation – In the News:
FINRA v. BNY Mellon Securities Corporation (Case #2017054119401) – During the period January 2008 through April 2017 (the “Relevant Period”), MBSC failed to establish, maintain and enforce a supervisory system and written supervisory procedures reasonably designed to monitor the transmittal of funds from customer accounts to third parties. As a result, based upon instructions from two third party advisors, MBSC disbursed $971,289.07 in fees from accounts of approximately 75 customers to the advisors that exceeded the fees to which the advisors were entitled pursuant to their management agreements with MBSC’s customers. MBSC thereby violated NASD Rules 3010, 3012 and 2110 and FINRA Rules 3110, 3110(c)(2) and 2010.
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.