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Mellon Bank Fined $54M

The Bank of New York Mellon will pay $54 million to settle charges of improper handling of pre-released American Depositary Receipts, “which resulted in abusive practices like inappropriate short selling,” the SEC said Monday.

WASHINGTON — The Bank of New York Mellon agreed Monday to pay $54 million to settle charges of improper handling of pre-released American Depositary Receipts, “which resulted in abusive practices like inappropriate short selling."

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