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
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:
