Defendant Name: Citigroup Global Markets Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Citigroup Inc.
SIC Code: 6021
CUSIP: 17296742

Initial Case Details

Legal Case Name In the Matter of Citigroup Global Markets, Inc. and Citi Order Routing and Execution, LLC
First Document Date 14-Sep-2018
Initial Filing Format Administrative Action
File Number 3-18766
Allegation Type Broker Dealer

Violations Alleged

Securities Act
• Sec 17(a)(2)

Resolutions

First Resolution Date 14-Sep-2018
Headline Total Penalty and Disgorgement $12,656,165

Related Documents:

2018-193 14-Sep-2018 Press Release--Administrative Proceeding
SEC Charges Citigroup for Dark Pool Misrepresentations; Citigroup and Affiliate Ordered to Pay More than $12 Million in Disgorgement and Penalties
"The Securities and Exchange Commission today entered an order finding that Citigroup Global Markets Inc. misled users of a dark pool operated by one of its affiliates."
33-10545 14-Sep-2018 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 8A of the Securities Act of 1933 and Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and imposing Remedial Sanctions and a Cease-and-Desist Order
"This proceeding arises from the conduct of Respondents in connection with a "crossing network" or "dark pool" called Citi Match. . . . CGMI marketed Citi Match exclusively to institutional customers, including mutual fund and retirement fund advisers. During the relevant period, CGMI made material misstatements and omissions to these institutional users concerning (a) the types of market participants that were allowed to place orders in Citi Match and (b) Citi Match's practice of routing orders to other trading venues for execution. . . . Additionally, from at least December 2011 to April 30, 2015, CORE operated as an exchange by virtue of providing Citi Match as a marketplace for NMS stocks. Despite this, CORE did not register as a national securities exchange or operate pursuant to an exemption from such registration."

Other Defendants in Action:

Citi Order Routing and Execution, LLC