FINRA fines Citigroup unit $250K over trade designations
By 
Kyle Brasseur2023-09-12T18:35:00
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.
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.
Related articles
-
News BriefFidelity unit fined $900K by FINRA for due diligence lapses
Fidelity Brokerage Services agreed to pay a $900,000 penalty levied by the Financial Industry Regulatory Authority regarding alleged due diligence failures caused by errors in the firm’s automated screening system.
-
News BriefCiti affiliates fined $2M in SEC Reg BI case
Citigroup Global Markets and Citi International Financial Services agreed to pay a total of nearly $2 million as part of a settlement with the Securities and Exchange Commission resolving allegations they violated the disclosure obligations of Regulation Best Interest.
-
News BriefCitigroup unit to pay $8.3M in FINRA partial tender offer case
A broker-dealer affiliate of Citi agreed to pay nearly $8.3 million as part of a settlement with the Financial Industry Regulatory Authority addressing allegations the firm overtendered shares in partial tender offers and received millions in ill-gotten gains.
More from Regulatory Enforcement
-
ArticleNY auto insurers on the hook for $19M for cybersecurity violations
Eight auto insurers failed to meet the requirements of New York’s cybersecurity regulations during widespread online attacks in 2021 and will pay $19 million under consent orders with the New York State Department of Financial Services (NYDFS).
-
News BriefCanada to launch new federal office targeting financial crime and fraud
Canada is creating a new federal office to lead efforts against financial crime. The initiative marks the government’s most significant move yet to modernize its approach to fraud and money laundering.
-
News BriefSmartmatic faces DOJ charges amid allegations of election contract bribes
Three executives of a multinational voting machine company in the crosshairs of President Donald Trump since 2020 have been indicted in Florida by the U.S. Department of Justice for allegedly paying $1 million in bribes to the Philippines top election official.