Certificate of Accounting of Securities and Similar Investments in the Custody of Management Investment Companies Filed Pursu...
May 28 2021 - 1:14PM
Edgar (US Regulatory)
Report of Independent Registered Public
Accounting Firm
The Board of Directors of
BNY Mellon High Yield Strategies Fund:
We have examined management's assertion, included in the
accompanying Management Statement Regarding
Compliance With Certain Provisions of the Investment
Company Act of 1940, that BNY Mellon High Yield
Strategies Fund (the "Fund"), the sole series of BNY
Mellon High Yield Strategies Fund, complied with the
requirements of subsections (b) and (c) of Rule 17f-2 under
the Investment Company Act of 1940 (the Act) as of
October 31, 2020. Management is responsible for its
assertion about the Fund's compliance with those
requirements of subsections (b) and (c) of Rule 17f-2 of the
Act (the specified requirements). Our responsibility is to
express an opinion on management's assertion about the
Fund's compliance based on our examination.
Our examination was conducted in accordance with
attestation standards established by the American Institute
of Certified Public Accountants. Those standards require
that we plan and perform the examination to obtain
reasonable assurance about whether management's
assertion about compliance with the specified requirements
is fairly stated, in all material respects. An examination
involves performing procedures to obtain evidence about
whether management's assertion is fairly stated in all
materials respects. The nature, timing, and extent of the
procedures selected depend on our judgement, including an
assessment of the risks of material misstatement of
management's assertion, whether due to fraud or error. We
believe that the evidence we obtained is sufficient and
appropriate to provide a reasonable basis for our opinion.
Included among our procedures were the following tests
performed as of October 31, 2020, and with respect to
agreement of security purchases and sales, for the period
from July 31, 2020 (the date of the Fund's last
examination) through October 31, 2020:
1. Count and inspection of all securities located in the vault of
The Bank of New York Mellon (the "Custodian") in Jersey
City, NJ, without prior notice to management;
2. Confirmation with the Custodian of all securities held,
hypothecated, pledged or placed in escrow or out for
transfer with brokers or pledgees, if any;
3. Obtained the Custodian reconciliation of security positions
held by institutions in book entry form (e.g., the Federal
Reserve Bank, The Depository Trust Company and various
sub-custodians) to Custodian records and verified that
reconciling items were cleared in a timely manner;
4. Reconciliation of the Fund's securities per the books and
records of the Fund to those of the Custodian;
5. Agreement of pending purchase and sale activity for the
Fund as of October 31, 2020, if any, to documentation of
corresponding subsequent bank statements;
6. Agreement of five security purchases and five security
sales, since the date of the last examination, from the books
and records of the Fund to corresponding bank statements;
7. Review of the BNY Mellon Asset Servicing Custody and
Securities Lending Services Service Organization Control
Report ("SOC 1 Report") for the period April 1, 2019 to
July 31, 2020 and noted no relevant findings were reported
in the areas of Asset Custody and Trade Settlement.
We believe that our examination provides a reasonable
basis for our opinion. Our examination does not provide a
legal determination on the Fund's compliance with
specified requirements.
In our opinion, management's assertion that the Fund
complied with the requirements of subsections (b) and (c)
of Rule 17f-2 of the Investment Company Act of 1940 as of
October 1, 2019 - September 30, 2020, with respect to
securities reflected in the investment accounts of the Funds
is fairly stated, in all material respects.
This report is intended solely for the information and use of
management and The Board of Directors of BNY Mellon
High Yield Strategies Fund, and the Securities and
Exchange Commission and is not intended to be and should
not be used by anyone other than these specified parties.
/s/ KPMG LLP
New York, New York
May 28, 2021
February 26, 2021
Management Statement Regarding Compliance With
Certain Provisions of the Investment Company Act of
1940
|
We, as members of management of BNY Mellon High
Yield Strategies Fund (the "Fund"), the sole series of BNY
Mellon High Yield Strategies Fund, are responsible for
complying with the requirements of subsections (b) and (c)
of Rule 17f-2, "Custody of Investments by Registered
Management Investment Companies" of the Investment
Company Act of 1940. We are also responsible for
establishing and maintaining effective internal controls
over compliance with those requirements. We have
performed an evaluation of the Fund's compliance with the
requirements of subsections (b) and (c) of Rule 17f-2 as of
October 31, 2020 and for the period from July 31, 2020
(the date of the Fund's last examination) through October
31, 2020.
Based on the evaluation, we assert that the Fund was in
compliance with the requirements of subsections (b) and (c)
of Rule 17f-2 of the Investment Company Act of 1940 as of
October 31, 2020, and for the period from July 31, 2020
(the date of the Fund's last examination) through October
31, 2020 with respect to securities reflected in the
investment accounts of the Funds.
BNY Mellon High Yield Strategies Fund
Jim Windels
Treasurer
1
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