The Federal Reserve Board issued a consent prohibition order against Nicholas Sheeley, a former employee of Commerce Bank in Kansas City, Missouri, for misappropriation of customer funds, and separately terminated two existing enforcement actions against Société Générale S.A. and Industrial and Commercial Bank of China Ltd. The terminations relate to cease and desist orders issued to Société Générale S.A. on November 19, 2018 and to Industrial and Commercial Bank of China Ltd. and its New York Branch on March 12, 2018; both actions were terminated on November 5, 2025.
Federal Reserve Board 2025-11-13
Federal Reserve Board issues prohibition order against former Commerce Bank employee and terminates enforcement actions against Société Générale and Industrial and Commercial Bank of China
The Federal Reserve Board issued a consent prohibition order against Nicholas Sheeley, a former Commerce Bank employee, for misappropriating customer funds. It also terminated cease and desist orders against Société Générale S.A. and Industrial and Commercial Bank of China Ltd., originally issued in 2018.