Defendant Name: Argo Group International Holdings, Ltd.

Defendant Type: Public Company
SIC Code: 6361
CUSIP: G0464B10

Document Reference: 34-89009

Document Details

Legal Case Name In the Matter of Argo Group International Holdings, Ltd.
Document Name Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date 04-Jun-2020
Document Format Administrative Proceeding
File Number 3-19822
AAER 4146
Allegation Type Issuer Reporting and Disclosure
Document Summary On June 4, 2020, the SEC instituted settled cease-and-desist proceedings against Argo Group International Holdings, Ltd. The SEC stated: "This matter arises from Argo Group International Holding, Ltd.'s failure to disclose in its definitive proxy statements that, from 2014 through 2018, it paid over $5.3 million to its then Chief Executive Officer, President and member of its Board of Directors, Mark E. Watson III, in the form of a wide range of perquisites and personal benefits. In connection with this conduct, Argo violated Sections 13(a), 13(b)(2)(A), 13(b)(2)(B), and 14(a) of the Exchange Act and Rules 12b-20, 13a-1, 14a-3, and 14a-9 thereunder. In late 2019, Watson resigned and agreed to reimburse Argo for certain perquisites and/or personal expenses."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Undertakings: "Respondent undertakes to cooperate fully with the Commission in any and all investigations, litigations or other proceedings relating to or arising from the matters described in the Order."
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:

Civil Penalty

Individual:     $900,000.00 Shared:    

Related Documents:

2020-127 04-Jun-2020 Press Release--Administrative Proceeding
Insurance Company Settles SEC Charges for Failing to Disclose Executive Perks
The SEC stated that: "[It] settled charges against Bermuda-based insurance company Argo Group International Holdings, Ltd. for failing to fully disclose perquisites and benefits provided to its former chief executive officer."

Related Actions:

In the Matter of Mark E. Watson III