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According to the order, BNY Mellon did not evaluate or hire the family members through its existing, highly competitive internship programs that have rigorous hiring standards.
On August 18, 2015, the SEC announced that BNY Mellon has agreed
to pay $14.8 million to settle charges that it violated the Foreign
Corrupt Practices Act by providing student internships to family
members of foreign government officials affiliated with a Middle
Eastern sovereign wealth fund. The SEC's order finds that BNY
Mellon lacked adequate internal controls to prevent and detect the
improper hiring practices. According to the order, BNY Mellon did
not evaluate or hire the family members through its existing,
highly competitive internship programs that have rigorous hiring
standards.
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