You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

BNY Mellon overcharged Fidelity, US says

Bank of New York Mellon Corp. secretly manipulated the cost of millions of dollars in currency trades conducted for Boston mutual fund giant Fidelity Investments, according to court documents filed by the Department of Justice in an ongoing investigation of the bank’s foreign exchange pricing.

Federal prosecutors and New York’s attorney general filed civil fraud charges against BNY Mellon last year, alleging that the bank overcharged pension funds and investment managers for certain foreign currency trades and misled them about practices that generated $1.5 billion in revenues.

Your comment is subject to the rules of our Posting Policy

This comment may appear on your public profile. Public Profile FAQ

Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of