Saturday, 22 August 2015

Citigroup to pay $15 million to settle U.S. compliance charges

    A unit of Citigroup Inc (C.N) will pay $15 million to settle civil charges alleging it failed to enforce policies designed to prevent and detect insider trading, U.S. regulators said. Wednesday's settlement with the Securities and Exchange Commission marks the second time this week that Citigroup has been dinged for regulatory failures.

    Earlier this week, two units of the bank also agreed to pay another $180 million to settle charges it defrauded hedge fund investors during the financial crisis.
A Citigroup spokeswoman said the company is "pleased to have the matter resolved."

    In the latest enforcement case, the SEC said on Wednesday that Citigroup failed to review thousands of trades executed by its trading desks during a 10-year period.

No comments:

Post a Comment