As the oldest bank in the United States, The Bank of New York has seen many changes over the past 220 years. But perhaps none as important as the regulatory changes being ushered into the financial services industry by the Securities and Exchange Commission within the last several months.

BONY is the leading provider of global products and services to the world's financial institutions, including a host of back-office services to the mutual fund industry. The Bank of New York is also the investment advisor to the BNY Hamilton Funds family and the parent to Ivy Asset Management, the $14.6 billion hedge fund manager-of-managers that the bank acquired in 2000. It also bought Lockwood Financial Services and Pershing last year, which it then merged to provide a single platform for managed accounts for the financial adviser marketplace.

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