Defendant Name:
Citigroup Global Markets Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Citigroup Inc.
SIC Code:
6021
CUSIP:
17296710
Initial Case Details
Legal Case Name
SEC v. Citigroup Global Markets Inc., f/k/a Salomon Smith Barney Inc.
First Document Date
28-Apr-2003
Initial Filing Format
Civil Proceeding
Case Number
03-cv-02945
Allegation Type
Investment Advisers/Investment Companies
Federal District Court
New York, Southern District of New York
Violations Alleged
•
Section 15(c), 15(f), 17(a) Exchange Act; Rules 15c1-2, 17a-3 Exchange Act; Rules 2110, 2210(d)(1), 2210(d)(2), 3010 Conduct Rules of NASD; Rules 342, 401, 472, 476(a)(6) NYSE
Resolutions
First Resolution Date
28-Apr-2003
Headline Total Penalty and Disgorgement
$400,000,000
Related Documents:
SEC Sues Citigroup Global Markets, Formerly Known as Salomon Smith Barney, and Former Research Analyst Jack B. Grubman for Research Analyst Conflicts of Interest Firm to Settle with SEC, NASD, NYSE, NY Attorney General, and State Regulators; Grubman to Settle with SEC, NASD, NYSE, and NY Attorney General
According to the SEC: "The Securities and Exchange Commission announced today that it has settled charges against Citigroup Global Markets Inc., formerly known as Salomon Smith Barney Inc. ("SSB"), a New York-based brokerage firm and investment bank, arising from an investigation of research analyst conflicts of interest. This settlement, and settlements with nine other brokerage firms, are part of the global settlement the firms have reached with the Commission, NASD, Inc., the New York Stock Exchange, Inc. ("NYSE"), the New York Attorney General, and other state regulators."
Complaint
According to the SEC: "In 1999, 2000, and 2001 (the "relevant period"), as described below, SSB issued research reports on two telecommunications ("telecom") companies that were fraudulent and issued research reports on several telecom companies that violated NASD and NYSE rules regulating their members' communications with the public (the "Advertising Rules")."
Final Judgment as to Defendant Citigroup Global Markets Inc., F/K/A Salomon Smith Barney Inc.
Court Approves Modifications to Global Research Analyst Settlement
On March 19, 2010, the SEC published a litigation release announcing that the Honorable William H. Pauley issued an order approving modifications to the final judgments entered against Citigroup Global Markets Inc. and the other firms covered by the Global Research Analyst Settlement.
