BNY Mellon resolves Massachusetts forex case with fee discount

BOSTON Mon Dec 23, 2013 11:05am EST

BOSTON Dec 23 (Reuters) - Massachusetts' top securities regulator said on Monday his office has revolved an administrative complaint with Bank of New York Mellon Corp over its handling of foreign exchange transactions.

BNY Mellon agreed to discount by $15.45 million over nine years the custodial services fees it charges to the state's Pension Reserves Investment Management Board, which oversees public retirement money, Massachusetts Secretary of State William F. Galvin said in a statement.

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