SEC
Whistleblower
Attorneys

June 14, 2019

Industrial and Commercial Bank of China Financial Services LLC

Trading and Pricing

SANCTION AMOUNT: $42,835,192

Defendants: Industrial and Commercial Bank of China Financial Services LLC

The Commission found that Respondent improperly obtained pre-released ADRs from depositary banks when it should have known that neither the firm nor its customers owned the foreign shares needed to support them. This led to inappropriate short selling and dividend arbitrage.

Named one of the top whistleblower practices/attorneys in the country by The New York Times, Wall Street Journal and NPR
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