Tuesday, November 25, 2014

Citigroup Global Markets Fined for Equity Research Supervision Failures

FINRA fined Citigroup Global Markets, finding that from January 2005 to February 2014, Citigroup failed to meet its supervisory obligations regarding the potential selective dissemination of non-
public research to clients and sales and trading staff.

CitigroupAccording to the press release during this period, Citigroup issued approximately 100 internal warnings concerning communications by equity research analysts. However, when Citigroup detected violations involving selective dissemination and client communications, there were lengthy delays before the firm disciplined the research analysts and the disciplinary measures lacked the severity necessary to deter repeat violations of Citigroup policies

For more information - FINRA Fines Citigroup Global Markets Inc. $15 Million for Supervisory Failures Related to Equity Research and Involvement in IPO Roadshows | Business Wire


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