Defendant Name: Citigroup Global Markets Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 2023-165

Document Details

Legal Case Name In the Matter of Citigroup Global Markets Inc.
Document Name SEC Charges Citigroup Global Markets Inc. with Recordkeeping Failures concerning Underwriting Expenses
Document Date 29-Aug-2023
Document Format Administrative Proceeding
File Number 3-21583
Allegation Type Broker Dealer
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Censured
Monetary Penalties:

Civil Penalty

Individual:     $2,900,000.00 Shared:    

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."