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.
First Document Date 29-Aug-2023
Initial Filing Format Administrative Action
File Number 3-21583
Allegation Type Broker Dealer

Violations Alleged

Other
• Section 17(a) Exchange Act; Rule 17a-3 Exchange Act

Resolutions

First Resolution Date 29-Aug-2023
Headline Total Penalty and Disgorgement $2,900,000

Related Documents:

34-98238 29-Aug-2023 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and imposing Remedial Sanctions and a Cease-and-Desist Order
On August 29, 2023, the SEC instituted settled administrative and cease-and-desist proceedings against Citigroup Global Markets Inc., stating: "This matter concerns Respondent’s failure to make and keep current books and records concerning expenses that the firm incurred in connection with its underwriting of securities offerings. For at least ten years, ending in May 2019, CGMI calculated and recorded in its books and records certain expense estimates as underwriter for securities offerings without knowing the basis for its calculation method during this period or taking steps to review or verify whether it was reasonable."
2023-165 29-Aug-2023 Press Release--Administrative Proceeding
SEC Charges Citigroup Global Markets Inc. with Recordkeeping Failures concerning Underwriting Expenses
On August 29, 2023, the SEC "announced settled cease-and-desist proceedings against broker-dealer Citigroup Global Markets Inc. (CGMI) for willfully violating recordkeeping requirements concerning expenses that the firm incurred in connection with its underwriting business."