{"id":28045,"date":"2014-08-12T10:04:40","date_gmt":"2014-08-12T14:04:40","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=28045"},"modified":"2014-08-12T10:04:40","modified_gmt":"2014-08-12T14:04:40","slug":"the-bank-of-new-york-mellon-corporation-nysebk-says-britain-is-probing-its-assets-protection-system","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/the-bank-of-new-york-mellon-corporation-nysebk-says-britain-is-probing-its-assets-protection-system-28045","title":{"rendered":"The Bank Of New York Mellon Corporation (NYSE:BK) Says Britain Is Probing Its Assets Protection System"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 08\/12\/2014 (wallstreetpr) \u2013 The diversified global financial services provider, <b>The Bank Of Yew York Mellon Corporation (NYSE:BK)<\/b> disclosed that the Britain\u2019s regulator is probing the system of protection in place as far as the assets are concerned. The move is reportedly to safeguard the clients\u2019 interests.<\/p>\n<p style=\"text-align: justify;\"><b>Investigation<\/b><\/p>\n<p style=\"text-align: justify;\">In a filing with the Securities and Exchange Commission or the SEC, the company had made the disclosure, <a href=\"http:\/\/www.bloomberg.com\/news\/2014-08-11\/bny-mellon-discloses-u-k-probe-into-protection-of-assets.html?cmpid=yhoo\">Bloomberg<\/a> reported. A spokesperson was contacted for the comments from the bank and he had refused to go beyond the filing, the report indicated. The United Kingdom\u2019s Financial Conduct Authority has been probing the protections angle that The Bank Of New York Mellon Corporation (NYSE:BK)\u00a0has.<\/p>\n<p style=\"text-align: justify;\">However, the news had no impact on the price of the stock in the market on Monday. It closed with a loss of 0.16% only though the volume was more than ten million shares compared to the three-month average volume of 5.5 million shares. It appeared that it was nothing unusual since the preceding two days of transactions witnessed a <a href=\"http:\/\/finance.yahoo.com\/q\/hp?s=BK+Historical+Prices\">volume<\/a> of 8.2million and 9.34 million shares.<\/p>\n<p style=\"text-align: justify;\"><b>Appointment<\/b><\/p>\n<p style=\"text-align: justify;\">Separately, The Bank Of New York Mellon Corporation (NYSE:BK)\u00a0said that it had appointed <a href=\"http:\/\/finance.yahoo.com\/news\/bny-mellon-names-michael-gordon-140000947.html\">Michael<\/a> Gordon as Head for its new Retirement and Strategic Solutions unit. The division is designed to meet the current needs of requirement apart from estimating the requirements of the next-generation and develop customized, transformational, and comprehensive investment solutions for the bank\u2019s clients.<\/p>\n<p style=\"text-align: justify;\">The company had indicated that its idea was to establish a non-conventional group with the sole purpose of meeting the client needs, who were hitherto not met, but provide further space for growth. Therefore, the company believes that Michael Gordon should be able to execute innovative solutions for its clients to differentiate BNY even as the insurance and retirement markets are changing dramatically.<\/p>\n<p style=\"text-align: justify;\">The Bank Of New York Mellon Corporation (NYSE:BK)\u00a0said that the retirement industry was progressing rapidly from accumulation from the client\u2019s objective. Over 50% of the U.S. individual assets would be in the form of retirement transition in less than three-year time, Gordon said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 08\/12\/2014 (wallstreetpr) \u2013 The diversified global financial services provider, The Bank Of Yew York Mellon Corporation (NYSE:BK) disclosed that the Britain\u2019s regulator is [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":28046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1942],"tags":[1356,1661],"stock_ticker":[],"class_list":["post-28045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-nysebk","tag-the-bank-of-new-york-mellon-corporation-nysebk","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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