Defendant Name:
Citigroup Global Markets Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Citigroup Inc.
SIC Code:
6021
CUSIP:
17296742
Document Reference:
34-98238
Document Details
Legal Case Name
In the Matter of Citigroup Global Markets Inc.
Document Name
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
Document Date
29-Aug-2023
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$2,900,000.00
Shared:
