An affiliate of financial services firm Citi was fined $250,000 by the Financial Industry Regulatory Authority (FINRA) regarding inaccurate trade confirmations to customers.

Citigroup Global Markets agreed to settle the matter, which was uncovered during a FINRA examination.

The details: From October 2016 through July 2020, Citigroup Global Markets issued approximately 37,000 inaccurate trade confirmations to customers through its alternative trading system, CitiBLOC ATS, according to FINRA’s disciplinary notice published Monday.

The customer orders were labeled as “cross as agent” trades when they should have logged as principal trades, the self-regulatory organization noted.

The firm addressed the issue with a logic correction implemented in July 2020.

Compliance considerations: FINRA noted Citigroup Global Markets was fined $550,000 in May 2018 for allegedly issuing approximately 12.5 million customer trade confirmations that contained inaccurate information.

Citi declined to comment.