Hashtag: #ConvergEx

Former Convergex Markets Trader Pleads Guilty

47-year-old Michael Marshall of Bermuda pleaded guilty in the District of New Jersey to one count of conspiracy to falsify the books and records of a broker-dealer, the U.S. Department of Justice said. A statement from the U.S. Department of Justice said, “Michael Craig Marshall, 47, of Bermuda, pleaded guilty before U.S. District Judge Jose L.... Read more of this article

ConvergEx Group Subsidiary To Pay $26 Million

A brokerage subsidiary of ConvergEx Group LLC was sentenced and ordered to pay a criminal penalty and restitution of $26 million for wire fraud and conspiracy to commit securities and wire fraud in connection with a scheme to charge clients millions of dollars in unwarranted and hidden fees, a statement from the FBI said. “CGM Limited, a subsidiary... Read more of this article

Conspiracy Charge Filed Against Former Trader

According to the FBI, a former trader for ConvergEx Global Markets Ltd. — a former securities broker-dealer registered in Bermuda — has been charged in New Jersey with conspiracy to commit wire fraud. 47-year-old Craig Marshall — who the FBI said was based in Bermuda — was charged under seal by criminal complaint on May 27, 2014,... Read more of this article

ConvergEx To Pay $150M To Settle Fraud Case

The U.S. Securities and Exchange Commission said today [Dec 18] that subsidiaries of ConvergEx Group agreed to pay more than $107 million and admit wrongdoing to settle the SEC’s charges. In a parallel action, the Department of Justice announced criminal charges against ConvergEx Group, a brokerage subsidiary, and the two former employees. To resolve... Read more of this article

ConvergEx Shuts Bermuda Trading Program

ConvergEx Group has shuttered its Bermuda-based programme trading operation, the subject of an investigation by the Securities and Exchange Commission and the US Department of Justice, industry journal “Traders” reported yesterday [Mar.12] Meanwhile, Anthony Blumberg, chief executive officer of the division, known as ConvergEx Global Markets,... Read more of this article

ConvergEx Bermuda Woes Spotlighted

The cover story of the February issue of “aiCIO” explains why the Federal Bureau of Investigation, the Securities & Exchange Commission and the US Postal Service have reportedly focused their attention on the transition management practices of ConvergEx Group, an affiliate of leading global custodian BNY Mellon with a major Bermuda presence. Published... Read more of this article

ConvergEx Bermuda Subsidiary Probed

ConvergEx Group today [Dec.24] announced the company and CVC Capital Partners have terminated their pending merger because of parallel investigations by the US Securities & Exchange Commission and Department of Justice into a Bermuda subsidiary of the technology firm. The transaction, announced on July 20, 2011, provided for ConvergEx to be acquired... Read more of this article