- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
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.
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.
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.
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
