Defendant Name: Argo Group International Holdings, Ltd.

Defendant Type: Public Company

Document Reference: 2020-127

Document Details

Legal Case Name In the Matter of Argo Group International Holdings, Ltd.
Document Name Insurance Company Settles SEC Charges for Failing to Disclose Executive Perks
Document Date 04-Jun-2020
Document Format Administrative Proceeding
File Number 3-19822
Allegation Type Issuer Reporting and Disclosure
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $900,000.00 Shared:    

Related Documents:

34-89009 04-Jun-2020 Administrative Proceeding
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
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."

Related Actions:

In the Matter of Mark E. Watson III
Mark E. Watson III