BNY Mellon Capital Markets, LLC has agreed to pay a fine of $60,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From April 2022 through May 2024, in approximately 1,725 instances, BNY Mellon Capital Markets reported transactions to the MSRB’s Real Time Transaction Reporting System (RTRS) without the required special condition indicator for transactions in new issue municipal securities, in violation of MSRB Rule G-14.

From April 2022 through at least May 2024, the firm violated MSRB Rule G-27 by failing 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.

On top of the $60,000 fine, the firm has agreed to a censure.

BNY Mellon Capital Markets has been a FINRA member firm since August 1986 and a Municipal Securities Rulemaking Board (“MSRB”) registrant since April 1995. The firm, which is headquartered in New York, New York, has approximately 190 registered individuals in 11 branch offices.