Published August 18, 2015 12:04pm EDT | Updated August 19, 2015 6:43pm EDT

Bank Of New York Mellon Fined Over Internships To Wealth Fund's Family Members

The Bank of New York Mellon was fined $14.8 million by the Securities and Exchange Commission over internships that violated the Foreign Corrupt Practices Act. Bank of New York Mellon allegedly provided internships to family members of foreign government officials affiliated with a Middle Eastern sovereign wealth fund. The SEC didn't name the country. The bank didn't deny or admit the findings.