ICAP Discloses Receipt of Wells Notice by Subsidiary

SEC230ICAP plc announced that yesterday, October 22, 2009, the SEC’s New York Regional Office staff provided its subsidiary, ICAP Securities USA LLC with a “Wells Notice.”  The staff intends to recommend that the Commission bring enforcement actions for possible securities law violations that relate to “an existing SEC investigation into the market in certain fixed income securities which has been ongoing since 2005.

ICAP plc added that it has “discussed these matters with the SEC, has substantial disagreements with the SEC regarding how they should properly be viewed, and will vigorously put forth its position if and when any such charges are brought.”

Read the ICAP plc statement