Judge Blocks, Blasts SEC-Citigroup Settlement
Judge Jed S. Rakoff on Monday rejected a settlement negotiated between the SEC and Citigroup over a $1 billion mortgage fund and said that he could not determine whether the $285 million settlement was “fair, reasonable, adequate and in the public interest.”
Citigroup to Pay $285 Million to Settle SEC Charges on CDO Deal
The SEC charged Citigroup’s principal U.S. broker-dealer subsidiary with betting against clients who invested in the CDO as the housing market showed signs of distress.
FINRA Fines Citigroup $500,000
FINRA announced Tuesday that it had fined Citigroup Global Markets Inc. $500,000 for failure to supervise a former registered sales assistant in its branch office in Palo Alto, Calif.