Massachusetts Regulator Investigating BNY Technology Snafu
- Galvin queries record keeper and six large fund providers.
- Billions of dollars in assets were affected, officials say.
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Massachusetts’ chief securities regulator is investigating a technology failure that caused delays in the pricing of mutual funds and exchange-traded funds for several days last month.
Secretary William Galvin has asked Bank of New York Mellon Corp. and six mutual fund providers how the “glitch” in fund accounting affected individual investors, his office said Friday in a statement.