Press Release – New York, NY – February 1, 2017 – Sichenzia Ross Ference Kesner LLP partner Henry Nisser was interviewed by the FinOps Report in its article titled “Pre-Release ADRs: More SEC Fines on the Way?” The article discusses ITG Inc.’s recent agreement 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. Mr. Nisser emphasized the need for broker-dealers to set up stricter compliance procedures which include more frequent monitoring of their securities lending desks to prevent the misuse of pre-released ADRs.
Please read the full article here.
[starbox id=20]
