Defendant Name:
ITG Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Investment Technology Group, Inc.
SIC Code:
6211
CUSIP:
46145F10
Document Reference:
33-10279
Document Details
Legal Case Name
In the Matter of ITG Inc.
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933, and Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
12-Jan-2017
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On January 12, 2017, the SEC instituted a settled proceeding against ITG Inc. According to the SEC: "These proceedings arise out of ITG’s improper practices involving the pre-release of American Depositary Receipts (“ADRs”). [...] The result of this conduct was the issuance of ADRs that in many instances were not backed by ordinary shares as required by the Depositary Agreements. This conduct violated Section 17(a)(3) of the Securities Act."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$15,070,144.10
Shared:
Civil Penalty
Individual:
$7,535,072.05
Shared:
Pre-Judgment Interest
Individual:
$1,845,252.36
Shared:
