Citigroup to Pay $250K Fine on Fund Sales
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The NASD on Monday censured Citigroup  Global Markets Inc. and fined it $250,000 for distributing  misleading sales material on hedge funds, the latest regulatory  mishap for the world's largest financial services company.
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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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The NASD ordered Citigroup Inc.   to pay $1.12 million over a scheme by more than 100 brokers to  obtain mutual fund sales charge waivers by falsely claiming  their customers, including hedge funds, were disabled.
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The founders of PBHG mutual funds agreed to pay &#36;160 million in restitution and civil fines and to be banned for life from the securities industry to resolve allegations they facilitated improper trading in the funds, regulators said on Wednesday.
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Fremont Investment Advisors of San Francisco has agreed to pay $2.1 million in restitution and $2 million in civil penalties to end a mutual fund timing case, New York Attorney General Eliot Spitzer announced Thursday.
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Securities regulators have ordered a division of Citigroup Inc. to pay a $275,000 fine plus restitution for allegedly recommending high-risk commodity futures funds to people who shouldn&#39;t have invested in them and failing to fully disclose the risks.
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Citigroup Inc  has barred  investors in one of its hedge funds from withdrawing their  money, and a new leveraged fund lost 52 percent in its first  three months, the Wall Street Journal reported on Friday.
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The U.S. attorney for the Southern District in New York said on Tuesday he charged 26 individuals with taking part in "a wide-ranging scheme to commit mortgage fraud" at companies that brokered loans with a total face value of at least $200 million.
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WASHINGTON -- The Securities and Exchange Commission is considering recommending charges against two former Citigroup Inc. employees and a current employee, the financial-services giant said Friday.
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The NASD on Monday said it fined  Citigroup Global Markets Inc. $250,000 for distributing  inappropriate hedge fund sales literature, in the regulator's  largest fine involving hedge fund sales by broker-dealers.
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A federal judge in New York has approved a $2.6 billion settlement of a class-action lawsuit on behalf of more than 170,000 WorldCom investors who claimed they were defrauded by Citigroup.
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WASHINGTON, Oct 25  - US brokerage regulator NASD said Monday it had fined Citigroup Global Markets Inc. a quarter of a million dollars in its largest ever enforcement action after the financial giant
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Citigroup Inc  awarded Chief  Executive Vikram Pandit $26.7 million of shares and 3 million  stock options, six weeks after he took over the largest U.S.  bank, and a week after reporting a record $9.83 billion  quarterly loss.
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Four Fidelity Investments brokerage units were fined a total of $3.75 million, regulator NASD said yesterday, citing broad record-keeping lapses it said it uncovered while probing the lavish gifts some company traders accepted from outside brokerages.
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Mutual fund companies have felt the pain of fines since New York Attorney General Eliot Spitzer uncovered the trading scandal one year ago Friday. But investors have administered the harshest punishment.
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Qwest Communications has agreed to pay $250 million to settle a wide-ranging fraud investigation by the Securities and Exchange Commission, The Associated Press has learned.
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Citgo Petroleum Corp. will pay a  $3.6 million fine in a settlement with the U.S. Justice  Department and also spend $320 million to cut air pollution  from six of its refineries, the government said on Wednesday.