Are client assets safe after BNY Mellon's custody failures?

Is the £126m fine slapped on the world's biggest custodian a worrying sign?

Stephanie Baxter
clock

As the world's biggest custodian bank faces a hefty fine for failing to meet rules that protect client assets, Stephanie Baxter asks if alarm bells should be ringing.

At a glance BNY Mellon was fined £126m for a series of failures to safeguard client assets over six years The bank apologised and took remedial action but schemes are concerned this coul...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

CDC could signal 'new era' for pensions adequacy

CDC could signal 'new era' for pensions adequacy

CDC will lead to rethink of scheme governance, decision-making and member comms

Jonathan Stapleton
clock 12 August 2025 • 2 min read
IHT on pensions pre-55 slammed as 'brutal'

IHT on pensions pre-55 slammed as 'brutal'

HMRC confirms those under minimum pension age will see IHT applied on their pots

Isabel Baxter
clock 12 August 2025 • 2 min read
Industry supportive of LGPS access and fairness consultation proposals

Industry supportive of LGPS access and fairness consultation proposals

Experts say the proposals should help with reducing the gender pensions gap in the LGPS

Holly Roach
clock 08 August 2025 • 2 min read
Trustpilot