Law360: Bribery Charges Over BNY Mellon's Wealth Fund Interns Loom
Violations of the Foreign Corrupt Practices Act are investigated and prosecuted aggressively by the Securities and Exchange Commission. Whistleblowers play a vital role in bringing bribery and related corruption to light. Whistleblowers may receive an award of up to 30 percent of the amount collected from the wrongdoer – no matter where the whistleblower lives in the world. — Shayne Stevenson
"Bank of New York Mellon Corp. has revealed that it may face bribery charges over internships it allegedly gave to relatives of sovereign wealth fund officials, following an investigation by the U.S. Securities and Exchange Commission. The bank said in a Friday securities filing that the SEC had made a preliminary determination to recommend enforcement action for alleged violations of the Foreign Corrupt Practices Act. The filing didn't say which sovereign wealth funds are facing scrutiny from the SEC." Full article »
