Industry | 2009.10.13
FINRA Fines Citigroup $600,000 for Failing to Supervise Tax-Related Stock Transactions
WASHINGTON--(BUSINESS WIRE)--The Financial Industry Regulatory Authority (FINRA) today announced that it has fined Citigroup Global Markets Inc. $600,000 and censured the firm for failing to supervise complex trading strategies designed in part to minimize potential tax liabilities. The firm also failed to report to an exchange trades executed under these strategies and to adequately monitor Bloomberg messages. Specifically, Citigroup failed to supervise and control trading activities by lacking
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