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The SEC is alleging that the custodian giant once engaged in the “improper handling” of pre-released American Depositary Receipts.
Custodian giant Bank of New York Mellon has agreed to pay more than $54 million to settle charges via the SEC that engaged in the “improper handling of ‘pre-released’ American Depositary Receipts (ADRs).” As the SEC notes, ADRs are “U.S. securities that represent foreign shares of a foreign company” that “require a corresponding number of...
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