Citigroup Affiliates to Pay $180 Million for Hedge Fund Fraud
Two Citigroup affiliates—Citigroup Global Markets and Citigroup Alternative Investments—today agreed to pay nearly $180 million to the Securities and Exchange Commission to settle charges that they defrauded investors in two hedge funds by claiming they were safe, low-risk, and suitable for traditional bond investors. The funds later crumbled and eventually ...
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Citigroup to Pay $15M for Compliance Failures
Citigroup Global Markets today reached a $15 million settlement with the Securities and Exchange Commission to settle charges that it failed to enforce policies and procedures to prevent and detect securities transactions that could involve the misuse of material, nonpublic information. The SEC also said the firm failed to adopt ...
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ArticleFormer U.S. clothing business CEO faces 25 years for bribery in Honduras
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
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News BriefFTC orders AI firms to disclose safeguards for children and teens
AI chatbots are increasingly used by children and teens, prompting the FTC to order seven AI companies to explain how they monitor potential harms to minors.