Defendant Name: BMO Capital Markets Corporation

Defendant Type: Subsidiary of Public Company

Document Reference: 2019-155

Document Details

Legal Case Name In the Matter of BMO Capital Markets Corporation
Document Name Cantor Fitzgerald and BMO Capital Charged for Improper Handling of ADRs
Document Date 16-Aug-2019
Document Format Administrative Proceeding
File Number 3-19356
Allegation Type Broker Dealer
Document Summary The SEC stated: "[B]roker BMO Capital Markets Corporation will pay over $3.9 million to settle charges of improper handling of "pre-released" American Depositary Receipts (ADRs)."

Disgorgement & Penalty Information

Resolutions
None Specified
Cooperation Before the Resolution
Monetary Penalties:

Disgorgement

Individual:     $2,200,000.00 Shared:    

Civil Penalty

Individual:     $1,200,000.00 Shared:    

Pre-Judgment Interest

Individual:     $546,000.00 Shared:    

Total Penalty

Individual:     $3,900,000.00 Shared:    

Related Documents:

34-86693 16-Aug-2019 Administrative Proceeding
Order Instituting Administrative Proceedings, Pursuant to Section 15(b)(4) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions
On August 16, 2019, the SEC instituted settled administrative and cease and desist proceedings against BMO Capital Markets Corporation ("BMO CMC"). The SEC stated: "These proceedings arise out of BMO CMC’s improper practices with respect to securities lending transactions involving pre-released American Depositary Receipts (“ADRs”)."