Hong Kong market watchdog fines Citi $45 million for equities misconduct [Reuters]
Citigroup, Inc. (C)
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Source: Reuters
A Citibank sign is seen outside of a bank outlet in New York March 4, 2009. REUTERS/Lucas Jackson/File Photo HONG KONG, Jan 28 (Reuters) - Hong Kong's market regulator has fined a Citigroup (C.N) subsidiary HK$348.25 million ($45 million) for misconduct in its cash equities business and is launching disciplinary proceedings against some former senior managers at the bank. The Securities and Futures Commission (SFC) said on Friday that some of Citigroup Global Markets Asia Limited's (CGMAL) trading desks had issued inaccurate "indications of interest" in stocks to generate client inquiries and had also made misrepresentations to customers when executing some trades. The SFC said senior CGMAL managers had attended a roundtable with the watchdog in 2014 during which it drew attention to common deficiencies found in the market, and that it had also issued a circular in 2018 providing further guidance. Despite both these efforts, CGMAL had still failed to identify the misconduct or rectify
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C
Earnings
- 4/12/24 - Beat
C
Sec Filings
- 4/15/24 - Form 424B2
- 4/15/24 - Form 424B2
- 4/15/24 - Form 424B2
- C's page on the SEC website