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 International Financial Services, LLC, now known as Insigneo International Financial Services, LLC
First Document Date 28-Sep-2023
Initial Filing Format Administrative Action
File Number 3-21753
Allegation Type Broker Dealer

Violations Alleged

Other
• Section 17(a)(1) Exchange Act; Rules 15l-1(a)(1), 17a-14(f)(3) Exchange Act

Resolutions

First Resolution Date 28-Sep-2023
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-98609 28-Sep-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, and Section 203(e) of the Investment Advisers Act of 1940 Making Findings, and Imposing Remedial Sanctions and Cease-and-Desist Orders
On September 28, 2023, the SEC announced settled administrative and cease-and-desist proceedings against Citigroup Global Markets, Inc. and Citi International Financial Services, LLC, now known as Insigneo International Financial Services, LLC, for making "securities recommendations to retail customers without complying with the disclosure requirements under Regulation Best Interest (Reg. BI) or the requirement to deliver the Form Client Relationship Summary (Form CRS)."
34-98609-s 28-Sep-2023 Administrative Summary
SEC Charges Broker-Dealers with Violations of Regulation Best Interest and Form CRS Rules for Failing to Effect Delivery of Required Disclosures
On September 28, 2023, the SEC stated that: "[It] charged Citigroup Global Markets, Inc. (“CGMI”), a dually registered broker-dealer and investment adviser, and Citi International Financial Services, LLC (“CIFS”), now known as Insigneo International Financial Services, LLC, a registered broker-dealer, for making securities recommendations to retail customers without complying with the disclosure obligation of Regulation Best Interest (Reg. BI) between June 30, 2020 and March 31, 2021 and the requirement to deliver Form Client Relationship Summary (Form CRS) between July 30, 2020 and March 31, 2021."

Other Defendants in Action:

Citi International Financial Services, LLC, now known as Insigneo International Financial Services, LLC