May 10, 2019 / 5:04 PM / a year ago

Banca IMI Securities Corp pleads guilty to antitrust charge -U.S. Justice Department

WASHINGTON, May 10 (Reuters) - Banca IMI Securities Corp has pleaded guilty to an antitrust charge and was sentenced to a pay a criminal fine of more than $2 million for its involvement in a bid-rigging conspiracy for certain financial instruments, the U.S. Justice Department said in a statement on Friday.

It said the New York-based broker-dealer, which is indirectly controlled by Banca IMI, admitted that it conspired with other institutions and individuals to submit rigged bids to borrow pre-release American Depository Receipts between March 2012 and at least August 2014. (Reporting by Mohammad Zargham)

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