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convergex.com

Founded Year

2006

Stage

Acquired | Acquired

Valuation

$0000 

About Convergex Group

Convergex is an agency-focused global brokerage and trading related services provider that takes on the industry's toughest challenges, from complicated trades to complex businesses. With clients' interests as the top priority, Convergex delivers comprehensive solutions that span global high-touch and electronic trading, prime brokerage, clearing, commission management and beyond.

Convergex Group Headquarter Location

1633 Broadway 48th Floor

New York, New York, 10019,

United States

800-367-8998

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Expert Collections containing Convergex Group

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Convergex Group is included in 1 Expert Collection, including Fintech.

F

Fintech

7,344 items

US-based companies

Convergex Group Patents

Convergex Group has filed 3 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/23/2008

12/31/2013

Financial markets, Bridge systems, Financial regulatory authorities, Information technology management, International trade

Grant

Application Date

5/23/2008

Grant Date

12/31/2013

Title

Related Topics

Financial markets, Bridge systems, Financial regulatory authorities, Information technology management, International trade

Status

Grant

Latest Convergex Group News

Convergex agrees to pay $151m to settle securities and wire fraud charges

Sep 29, 2017

Convergex agrees to pay $151m to settle securities and wire fraud charges ConvergEx Group, a brokerage firm agreed to pay more than $151m to US regulators to settle criminal and civil charges that it exaggerated fees when trading for clients, deceived charities and other big investors. As part of the settlement, ConvergEx, the parent company, paid $43.8m and signed a deferred prosecution agreement with the US Department of Justice (DoJ) to thwart criminal charges. Furthermore, it also paid $107m to the US Securities and Exchange Commission (SEC) and admitted wrongdoing to settle related civil charges. According to the US regulators, two former traders including Thomas Lekargeren and Jonathan Daspin at ConvergEx Group were engaged in sending trades through an overseas unit to add hidden markups and markdowns, subsequently pocketed millions of dollars in illegal charges, during 2006 through 2011. ConvergEx Global Markets Limited (CGM Limited), a former broker-dealer registered in Bermuda, and ConvergEx Group have agreed to pay in total a criminal penalty of nearly $18m and forfeit approximately $12.8m, for a total penalty of $30.8m. Apart from this, both firms agreed to pay restitution of about $12.8m to defrauded customers. In a parallel action, the U.S. Securities and Exchange Commission also reached a resolution today with three ConvergEx Group subsidiaries, Daspin and Lekargaren. DoJ acting assistant attorney general Mythili Raman said that ConvergEx along with several of its employees, engaged in a concerted and coordinated effort to fleece its clients by charging them millions of dollars in unwarranted fees and then concealed those charges from its clients through a pattern of deception. Assistant director in charge Parlave said, "With today's guilty pleas, ConvergEx and two of its employees admitted their roles in a scheme in which they committed securities fraud." Share:

  • When was Convergex Group founded?

    Convergex Group was founded in 2006.

  • Where is Convergex Group's headquarters?

    Convergex Group's headquarters is located at 1633 Broadway, New York.

  • What is Convergex Group's latest funding round?

    Convergex Group's latest funding round is Acquired.

  • Who are the investors of Convergex Group?

    Investors of Convergex Group include Cowen, GTCR and Bank of New York.

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