The U.S. Securities and Exchange Commission (SEC) reports that broker Cantor Fitzgerald & Co. will pay more than $647,000 and broker BMO Capital Markets Corporation will pay more than $3.9 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). ADRs are U.S. securities that represent foreign shares of a foreign company,… Read More >>
Nomura Securities to Repay $25 Million to Bond Customers
New York City-based Nomura Securities International Inc. has agreed to repay approximately $25 million to customers for its alleged failure to adequately supervise traders in mortgage-backed securities, according to the Securities and Exchange Commission, which reports settling charges filed in two related enforcement actions. Nomura Securities International is the wholly owned subsidiary of Nomura Holdings… Read More >>
Merrill Lynch Pays $8M to Settle ADR Allegations
Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $8 million to settle charges of improper administration of “pre-released” American depositary receipts (ADRs), the Securities and Exchange Commission (SEC) reports. Merrill Lynch neither admits nor denies the SEC’s findings, but did submit an “Offer of Settlement.” In it, the firm agreed to pay… Read More >>
