ITG swung to a net loss in the third quarter after setting aside almost $24 million to deal with an SEC probe – leaving the agency broker's new boss with even more on his plate as he continues a turnaround project.

The firm said in a November 9 statement that it had set aside $22.1 million in the third quarter to cover a potential settlement with the US Securities and Exchange Commission over an inquiry into the "pre-release" of American Depositary Receipts. It said it had incurred legal fees related to the matter of $1.6 million.