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Settlement Depository Institutions

A&O Shearman

Fourth Depositary Bank Settles SEC Allegations Of Improper Handling Of Pre-Release ADRs

A&O Shearman on

On December 26, 2018, the Securities and Exchange Commission (“SEC”) announced that a fourth depositary bank (“the Bank”) had agreed to pay a civil monetary penalty and disgorgement totaling $135.1 million to resolve...more

A&O Shearman

A Second Broker-Dealer Settles SEC Allegations Over Improper Handling Of Pre-Released ADRs

A&O Shearman on

On August 18, 2017, the Securities and Exchange Commission (“SEC”) announced that broker-dealer Banca IMI Securities Corp. (“BISC”), an indirect, wholly-owned U.S. subsidiary of Italian bank Intesa Sanpaolo SpA, agreed to pay...more

Ballard Spahr LLP

CFPB settles first overdraft opt-in rule enforcement action

Ballard Spahr LLP on

The CFPB announced yesterday that it had reached a settlement with Regions Bank regarding claims that the bank unlawfully charged overdraft fees to customers who had not opted-in for overdraft coverage. The matter is the...more

Orrick - Finance 20/20

EU Regulation on Improving Securities Settlement and Regulating Central Securities Depositories Published in the EU Official...

Orrick - Finance 20/20 on

On August 28, the text of the Regulation on improving securities settlement and regulating central securities depositories (Regulation 909/2014) was published in the Official Journal of the EU. EU Regulation 909/2014....more

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