Defendant Name: Citigroup Global Markets Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Citigroup Inc.

Document Reference: 2018-155_33-83859

Document Details

Legal Case Name In the Matter of Citigroup Global Markets Inc. and Citigroup Inc.
Document Name Citigroup to Pay More Than $10 Million for Books and Records Violations and Inadequate Controls
Document Date 16-Aug-2018
Document Format Administrative Proceeding
File Number 3-18647
Allegation Type Broker Dealer
Document Summary The Commission stated that: "The Securities and Exchange Commission today announced that Citigroup has agreed to pay $10.5 million in penalties to settle two enforcement actions involving its books and records, internal accounting controls, and trader supervision. The charges stem from $81 million of losses due to trader mismarking and unauthorized proprietary trading and $475 million of losses due to fraudulently-induced loans made by a Mexican subsidiary."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     Shared:     $5,750,000.00
Shared with: Citigroup Global Markets Inc.

Related Documents:

34-83859 16-Aug-2018 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 a Cease-and-Desist Order
According to the Commission: "This matter involves CGMI's failure reasonably to supervise its traders with a view towards preventing mismarking and unauthorized trading in Citi proprietary accounts that ultimately caused CGMI's books and records, and those of its parent, Citigroup, to be inaccurate."

Other Defendants in Action:

Citigroup Inc.

Related Actions:

In the Matter of Mahesh Agarwal
Mahesh Agarwal