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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-09-29T14:51:00
A broker-dealer affiliate of Citigroup and a former Citi broker-dealer agreed to pay a total of nearly $2 million as part of a settlement with the Securities and Exchange Commission (SEC) resolving allegations they violated the disclosure obligations of Regulation Best Interest (Reg BI).
Citigroup Global Markets and Citi International Financial Services were found by the SEC to have made securities recommendations without following proper client relationship summary (CRS) form guidance, the agency alleged in an administrative proceeding published Thursday.
The alleged violations occurred before Citi International Financial Services was sold to Insigneo Financial Group in August 2022. The firm is now named Insigneo International Financial Services.
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News and analysis for the well-informed compliance or audit exec.
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2024-02-19T16:00:00Z By Kyle Brasseur
A subsidiary of the Teachers Insurance and Annuity Association of America agreed to pay more than $2.2 million as part of a settlement with the Securities and Exchange Commission for not acting in the best interest of its retail customers regarding their retirement accounts.
2024-01-31T19:27:00Z By Aaron Nicodemus
Citibank faces a lawsuit from New York Attorney General Letitia James for allegedly failing to protect and reimburse customers who lost thousands of dollars in fraudulent wire transfers.
2023-11-21T16:56:00Z By Kyle Brasseur
Registered broker-dealer Laidlaw and Company agreed to pay more than $800,000 as part of a settlement with the Securities and Exchange Commission addressing multiple alleged violations of Regulation Best Interest.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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