Investigation into KPMG in connection with The Bank of New York Mellon’s compliance with the FSA’s client asset rules
The Financial Reporting Council (FRC) has launched an investigation under the Accountancy Scheme into the conduct of KPMG Audit plc, auditors to The Bank of New York Mellon London branch and The Bank of New York Mellon International Limited, (‘BNY Mellon’) in relation to its role in reporting to the FSA on BNY Mellon’s compliance with the FSA’s client asset rules for the years ended 31 December 2007 to 31 December 2011. The decision to investigate follows the FCA Final Notice in respect of BNY Mellon published on 14 April 2015.
