- 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.
2024-09-18T18:53:00Z By Aaron Nicodemus
First Horizon Advisors will pay a $325,000 fine to settle allegations from the Securities and Exchange Commission that it violated Regulation Best Interest in part due to issues with incorporating a merged firms’ accounts into its systems.
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.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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