Cantor Fitzgerald and BMO Capital Charged for Improper Handling of ADRs

17Aug - by Editor - 0 - In STL.News

Washington DC (STL.News) – The Securities and Exchange Commission today announced that broker Cantor Fitzgerald & Co. will pay more than $647,000 and broker BMO Capital Markets Corporation will pay over $3.9 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).  With today’s actions, the SEC has charged 13 financial institutions in its ongoing investigation into abusive ADR pre-release practices, which, thus far, has included monetary settlements exceeding $427 million.

ADRs – U.S.

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