-
Citigroup Fined for Telling Clients to Buy When It Meant Sell
Citigroup Inc. will pay $11.5 million to resolve Financial Industry Regulatory Authority claims that a brokerage unit harmed retail customers by displaying inaccurate research ratings for hundreds of securities for nearly five years. Citigroup Global Markets Inc. showed incorrect ratings -- such as “buy” instead of “sell” -- to brokers, customers and supervisors on 38 percent of the equities covered by its research department from February 2011 to December 2015, Finra said in a statement on Thursday. Errors in an electronic feed of data provided to a clearing firm caused the incorrect ratings, Finra said. ... (full story)
- Comments
- Comment
- Subscribe
- Comment #1
- Quote
- Dec 29, 2017 12:06am Dec 29, 2017 12:06am
- moneygrows
- | Commercial Member | Joined Jan 2011 | 34 Comments
- Comment #2
- Quote
- Dec 29, 2017 12:09am Dec 29, 2017 12:09am
- Guest
- | IP XXX.XXX.57.116
- Comment #3
- Quote
- Dec 29, 2017 2:49am Dec 29, 2017 2:49am
- Guest
- | IP XXX.XXX.179.201
- Comment #4
- Quote
- Dec 29, 2017 7:45am Dec 29, 2017 7:45am
- saruhn
- | Joined Nov 2014 | Status: Team 600 | 138 Comments
- Comment #5
- Quote
- Dec 29, 2017 8:19am Dec 29, 2017 8:19am
- Pleiadian
- | Joined Oct 2009 | Status: Member | 595 Comments
Don't wait for the wind, take to the oars.
- Comment #6
- Quote
- Dec 29, 2017 8:36am Dec 29, 2017 8:36am
- Micc23
- | Joined May 2017 | Status: Member | 848 Comments
- Comment #7
- Quote
- Dec 30, 2017 7:34am Dec 30, 2017 7:34am
- Not-KPMG
- Joined Jun 2015 | Status: Member | 7592 Comments
Beware of robber banks (RB), bad advisors.