Tag: ADRs

December 27, 2018 BY Valentina Kirilova

JPMorgan Chase Bank pays more than $135m to settle SEC charges

The Securities and Exchange Commission (SEC) has announced that it has charged JPMorgan Chase Bank N.A. with improper handling of “pre-released” American Depositary Receipts (ADRs). The financial services company has agreed to pay more than $135 million to settle the charges. The official announcement reads as follows: ADRs – U.S. securities that represent foreign shares…

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SFC fines
September 26, 2018 BY Valentina Kirilova

SG Americas Securities fined $800.000 for improper handling of ADRs

The Securities and Exchange Commission (SEC) has announced that SG Americas Securities LLC will pay more than $800,000 to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs), predominantly by its predecessor entity. In its order against SG Americas, a registered broker-dealer and subsidiary of Paris-based Société Générale S.A., the SEC found that…

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Deutsche Bank
July 20, 2018 BY LeapRate Staff

Deutsche Bank hit with $75 million fine for improper handling of ADRs

The U.S. Securities and Exchange Commission (SEC) has announced that two U.S.-based subsidiaries of German financial services giant Deutsche Bank AG (FRA:DBK) will pay nearly $75 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). The case stems from a continuing SEC investigation into abuses involving pre-released ADRs. In proceedings against Deutsche…

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January 13, 2016 BY Mike Fox

Bank of New York Mellon accused of overcharging customers on Forex fees from ADR dividends

Reuters pointed out today that Bank of New York Mellon Corp (NYSE:BK) has been hit with a proposed class action lawsuit accusing it of skimming millions of dollars from clients by overcharging for currency conversions for American Depository Receipt dividends. Filed on Monday of this week in a Manhattan federal court, the lawsuit accused the world's biggest custody…

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