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
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
Undertaking to Cooperate in Related Action
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$900,000.00
Shared:
