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U.S. SEC fines Cantor, BMO Capital Markets over improper handling of ADRs

WASHINGTON, Aug 16 (Reuters) - The Securities and Exchange Commission (SEC) on Friday said Cantor Fitzgerald & Co and BMO Capital Markets had agreed to pay $647,000 and $3.9 million respectively to settle charges of improper handling of "pre-released" American Depositary Receipts (ADRs).

With the latest actions, the SEC has charged 13 financial institutions in its ongoing investigation into abusive ADR practices, which has so far led to more than $427 million in monetary settlements. (Reporting by Michelle Price Editing by Tom Brown)