The Securities and Exchange Commission (SEC) on Friday said Cantor Fitzgerald & ...
Cantor Fitzgerald and BMO obtained pre-released ADRs indirectly from other broker-dealers when “they should have known that the pre-release transactions were not backed by foreign shares,” according to the SEC.The multi-year SEC effort has aimed to clean up common abuses related to the use of “pre-release” ADRs.
Because of slight differences is international trade settlement times, ADRs are allowed to be “pre-released” to close any gap, usually less than a few days. That’s where, according to the SEC, banks and brokers flouted the requirement to hold enough foreign shares, creating an undue surplus.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
U.S. judge urges VW, SEC to resolve civil Dieselgate suitA federal judge in California on Friday urged the U.S. Securities and Exchange C...
Baca lebih lajut »
Trump defends handling of economy, China at New Hampshire campaign rallyPresident Donald Trump on Thursday defended his handling of the U.S. economy and...
Baca lebih lajut »
Global Markets Fall As China Promises Tariff RetaliationDownturn follows worst day of trading for U.S. market in 2019.
Baca lebih lajut »
Dow opens flat, holding most of Wednesday's steep lossesU.S. stock markets opened mostly flat on Thursday, in essence holding most of Wednesday’s steep losses.
Baca lebih lajut »
Stocks Struggle To Recover Amid China ThreatsGlobal markets are falling as China promises tariff retaliation by lisettevoytko
Baca lebih lajut »
Here's how to handle market anxietyCNBC's 'Power Lunch' talks about how to invest in a volatile market with Doug Boneparth, financial advisor and president of Bone Fide Wealth .
Baca lebih lajut »