UPDATE 1-Citigroup fined over risky fund recommendations
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The brokerage watchdog NASD on Tuesday censured Citigroup Inc. (CN: Quote, Profile, Research) and fined the financial services company $275,000 for violating rules regarding sales of risky investments.
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The staff of the U.S. Securities and  Exchange Commission is considering recommending a civil  injunction and/or administrative proceedings against Citigroup  Asset Management, Citicorp Trust Bank, former asset management  unit Chief Executive Thomas Jones and three other people,  Citigroup C.N said on Friday.
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British regulators Wednesday began investigating unusual trading activity by Citigroup Inc. in European government bond and bond derivative markets.
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Citigroup will take control of  investment funds worth $49bn as it continues to ride out financial market problems.
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Citigroup appeared to concede it had breached City rules yesterday when a senior executive expressed his regrets about an unprecedented Â£7bn European bond trade last month.
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Twenty-nine investment firms, including some of Wall Street's biggest names, have been fined a total $9.2 million by securities regulators who said they were late in reporting disciplinary history and other data about their brokers. The investment arms of Merrill Lynch &amp; Co. and Wachovia Corp. were barred from registering new brokers for five business days.
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Investment bank Morgan Stanley gets a record $19m fine from the New York Stock Exchange for a number of regulatory and supervisory lapses.
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The Securities and Exchange Commission yesterday ordered mutual funds to stop paying higher commissions to brokers who promote the companies&#39; funds. The agency also required portfolio managers to reveal investments in funds they ...
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The Financial Services Authority said Thursday it had fined the Bank of Ireland for breaching regulations intended to prevent money laundering.
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December 30, 2004 -- The NASD collected a record $102 million in disciplinary fines in 2004, roughly three times what it levied the previous year, as it issued stiff penalties following industry probes of mutual-fund trading.
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&gt;Citigroup Inc. was sued by a group of institutional investors who contend the bank defrauded them in selling $2.4 billion of notes linked to the creditworthiness of Enron Corp.
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CHICAGO _ Discount brokerage Charles Schwab Corp. on Tuesday settled regulators&#39; allegations that it allowed scores of improper mutual fund trades, agreeing to pay a $350,000 fine.
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NEW YORK, September 14 (New Ratings) - Charles Schwab Corporation (SCH.NYS) has agreed to pay a fine of $350,000 to settle the enforcement proceedings by federal regulators in connection with the alleged illegal processing of some mutual fund trade
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US financial services giant Citigroup (CN: Quote, Profile, Research) regrets its controversial sale of around 11 billion euros ($13.
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NEW YORK, Aug. 19 -- National Securities Corp., a Seattle brokerage firm, has agreed to a one-month ban on opening mutual fund accounts and must pay $600,000 in fines and restitution to settle allegations that its employees helped ...
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Brokerage Charles Schwab &amp; Co. has agreed to pay a $350,000 civil fine to settle federal regulators&#39; allegations that it illegally allowed certain customers to change mutual fund trade orders after the market&#39;s close.
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Citigroup's write-off was smaller than expected, but the stock got punished. What gives?