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The regulator alleges that the firm provided inaccurate research ratings for equity securities from 2011 to 2015.
The Financial Industry Regulatory Authority reports that it has fined Citigroup Global Markets Inc. (CGMI) $5.5 million and required the firm to pay “at least” $6 million in compensation to retail customers for “displaying inaccurate research ratings for numerous equity securities during a nearly five-year period, and for related supervisory violations.” In fact, according to...
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