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The SEC alleges that three Citi traders were mismarking transactions and engaged in unauthorized proprietary trading and fraudulent loans. Their actions spurred major losses for the firm.
The Securities and Exchange Commission (SEC) reports that Citigroup has agreed to pay $10.5 million in penalties to settle two enforcement actions involving its books and records, its internal accounting controls, and its trader supervision. The charges stem from $81 million in losses due to trader mismarking and unauthorized proprietary trading, and $475 million in...
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