Defendant Name:
Citi International Financial Services, LLC, now known as Insigneo International Financial Services, LLC
Defendant Type:
Subsidiary of Public Company
Document Reference:
34-98609-s
Document 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
Document Name
SEC Charges Broker-Dealers with Violations of Regulation Best Interest and Form CRS Rules for Failing to Effect Delivery of Required Disclosures
Document Date
28-Sep-2023
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Civil Penalty
Individual:
Shared:
$1,975,000.00
Shared with: Citigroup Global Markets, Inc.
Other Defendants in Action: