In the Matter of BNY Mellon Capital Markets, LLC

BNY Mellon Capital Markets, LLC was censured and fined for reporting transactions to the Municipal Securities Rulemaking Board’s (MSRB’s) Real-time Transaction Reporting System (RTRS) without the required special condition indicator for transactions in new issue municipal securities. According to FINRA, the firm failed to include the required M020 special condition indicator for all of the firm’s List Offering Price/Takedown Transactions reported to RTRS. The findings also stated that the firm failed to establish and maintain a supervisory system, including written procedures, reasonably designed to ensure compliance with the firm’s reporting obligation under MSRB Rule G-14(b).

Summary generated from official Financial Industry Regulatory Authority press release