Xpeng Motors Files To Raise $1.1B With IPO
The Guangzhou-based company is backed by Alibaba and Sequoia Capital.
Merrill Lynch Fined $8M Over ADR Trades
"An entity like Merrill may not avoid liability by using another broker to obtain fraudulently issued ADRs on its behalf," the SEC says.
JPMorgan Chase Fined $135M Over ADR Trades
JPMorgan's settlement with the SEC means all four depositary banks have been sanctioned for improper handling of "pre-released" ADRs.
Citibank Fined $38M for Mishandling ADR Trades
The SEC says the bank allowed ADRs to be “pre-released” while not backed by actual shares, leaving them ripe for potential market abuse.