ING Financial Markets LLC agreed to pay $5 million in settlement with the New York Stock Exchange Regulation over improper handling of pre-released American depository receipts, or ADRs.

The NYSE Regulation investigated improper practices in ING's securities lending desk from 2007 to 2015. The NYSE Regulation found that ING was lending ADRs that were not backed by ordinary shares as required by deposit agreements between the issuer and the depositary banks, and by the ADR brokers' pre-release agreements with the depositary banks.

Ann Louise Healy, a former ING employee, has also settled with the NYSE. The company terminated Healy's employment June 8 following the investigation.