Wedbush Securities will pay more than $8.1 million to settle charges for the improper handling of “pre-released” American Depositary Receipts, the Securities and Exchange Commission announced.

This marks the SEC’s 11th action against a bank or broker resulting from the its ongoing investigation into abusive ADR pre-release practices, which, thus far, has resulted in monetary settlements exceeding $422 million. On Monday, the SEC announced that Industrial and Commercial Bank of China Financial Services will pay more than $42 million to settle charges for the improper handling of pre-released ADRs.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...