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Massachusetts regulator investigates BNY Mellon fund pricing snafu
September 4, 2015 / 4:21 PM / 2 years ago

Massachusetts regulator investigates BNY Mellon fund pricing snafu

BOSTON, Sept 4 (Reuters) - The top securities regulator of Massachusetts said on Friday he is investigating the computer glitch at BNY Mellon Corp that last month disrupted pricing on more than $400 billion worth of mutual fund and exchange-traded fund assets.

Secretary of Commonwealth William Galvin said he has asked BNY Mellon and six mutual funds the technical glitch in fund accounting affected individual investors.

“In the warp-speed of trading these days computer problems can happen,” Galvin said in a press release. “But the fallout that seems only to affect large financial institutions can hit the average investor looking at his and her retirement money.”

Reporting By Tim McLaughlin, Editing by Franklin Paul

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