FINRA fines Pershing LLC (Bank of NY Mellon) only $175,000 for failing to report millions of fractional share trades over 26 years.

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FINRA charged Pershing LLC, a subsidiary of Bank of New York Mellon, for failing to report millions of fractional share trades from June 1997 to June 2023. Pershing agreed to pay a fine of $175,000 as part of the settlement. The violations included failing to report trades and not maintaining a proper supervisory system for these trades.

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