Goldman Sachs Group, Citigroup, and Robinhood Markets each issued quarterly filings this week disclosing regulatory investigations they are respectively facing into varied business practices.
Goldman Sachs disclosed in a securities filing Thursday the bank is cooperating with a Consumer Financial Protection Bureau (CFPB) investigation into its “credit card account management practices, including with respect to the application of refunds, crediting of nonconforming payments, billing error resolution, advertisements, and reporting to credit bureaus.”
The bank offered no further information regarding the probe.
Citigroup said Thursday it is being investigated by unnamed agencies regarding its trading in government securities.
In a securities filing, the bank said, “Government and regulatory agencies are conducting investigations or making inquiries regarding Citigroup’s sales and trading activities in connection with sovereign and other government-related securities.”
The bank said it is cooperating with the authorities looking into the matter.
Fintech platform Robinhood said Wednesday it received requests from the Securities and Exchange Commission’s (SEC) Division of Enforcement regarding its compliance with Regulation SHO’s trade reporting requirements, which regulate short sale practices.
In a securities filing, Robinhood disclosed the SEC, which had requested other information about the company’s compliance with Regulation SHO in October 2021, is now seeking information about how Robinhood handled “trade reporting and other requirements in connection with securities lending and fractional share trading.” The company said it previously received similar requests for information from the examinations staff at the Financial Industry Regulatory Authority as well.
Robinhood said it was cooperating with the SEC’s investigation.
No comments yet