JPMorgan Chase Bank N.A. is paying more than $135 million in total monetary relief to settle the SEC’s allegations that it improperly handled “pre-released” American Depositary Receipts (ADRs), an industry practice that the bank says it has stepped away from. The SEC’s actions against JPMorgan constitute the “eighth action against a bank or broker, and… Read More >>
Deutsche Bank Subsidiaries Charged with ADR Mismanagement
Two U.S.-based subsidiaries of Deutsche Bank A.G. will pay nearly $75 million to settle charges of “improper handling” of pre-released American Depositary Receipts (ADRs), the SEC reports. The Deutsche Bank subsidiaries are Deutsche Bank Trust Co. Americas (DBTCA), a depositary bank, and Deutsche Bank Securities Inc. (DBSI), a registered broker-dealer. The case stems from a… Read More >>
