BNY Mellon Discloses U.K. Probe Into Protection of Client Assets

Aug 11, 2014 3:25 pm ET

Aug. 11 (Bloomberg) -- Bank of New York Mellon Corp., the world’s largest custody bank, said today that the U.K. Financial Conduct Authority is investigating the protections the bank has in place for safeguarding client interests.

BNY Mellon made the disclosure in a regulatory filing. Kevin Heine, a spokesman for the bank, declined to comment beyond the filing. BNY Mellon declined 0.2 percent to $38.44 at 2:35 p.m. in New York trading.