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Cantor Fitzgerald & BMO Capital Settle ADR Cases

August 27, 2019 by Louis Chunovic

Cantor Fitzgerald & BMO Capital Settle ADR Cases

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 >>

Filed Under: Securities Operations, Buy-Side, Corporate Actions, Middle-Office, Operational Risk, Reconciliation & Exceptions, Risk Management, Settlement, General Interest, Governance, Diversity, Equity, and Inclusion (DEI), Back-Office, Integration, Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Reporting, Industry News Tagged With: ADR, BMO, Cantor Fitzgerald, foreign shares, Sanjay Wadhwa, SEC, U.S. securities

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