- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-08-30T18:23:00
The Securities and Exchange Commission (SEC) fined a Citigroup subsidiary $2.9 million as part of a settlement addressing alleged recordkeeping failures concerning underwriting expenses that occurred for at least a decade.
Citigroup Global Markets, a registered broker-dealer and investment adviser, agreed to pay the civil penalty, cease and desist from further violations, and be censured, the SEC announced in a press release Tuesday.
The details: From at least 2009 through May 2019, Citigroup Global Markets used an unsubstantiated and unverified method to calculate and record indirect expenses associated with its underwriting activities, the SEC alleged in its order.
2023-09-29T14:51:00Z By Kyle Brasseur
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.
2023-09-27T18:47:00Z By Kyle Brasseur
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.
2023-09-12T18:35:00Z By Kyle Brasseur
Citigroup Global Markets was fined $250,000 by the Financial Industry Regulatory Authority regarding inaccurate trade confirmations to customers.
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.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
2025-06-16T18:04:00Z By Neil Hodge
Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned ...
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