Tag: Investment Technology Group (NYSE:ITG)

SFC fines
June 22, 2017 BY LeapRate Staff

SEC adds additional charges and fines in ITG foreign shares ADRs case

The U.S. Securities and Exchange Commission today announced additional charges in an enforcement investigation involving the improper handling of American Depositary Receipts (ADRs) by a Wall Street firm’s securities lending desk. The SEC’s order finds supervisory failures by Anthony Portelli, a former managing director and head of operations at broker-dealer ITG Inc., a unit of…

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SFC fines
January 12, 2017 BY LeapRate Staff

Broker ITG paying $24 million SEC fine for foreign share ADRs violation

The U.S. Securities and Exchange Commission today announced that broker Investment Technology Group (NYSE:ITG) agreed to pay more than $24.4 million to settle charges that it violated federal securities laws when it prompted the issuance of American Depository Receipts (ADRs) without possessing the underlying foreign shares. ADRs are U.S. securities that represent shares of a…

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