ADVFN - Advanced Financial Network.
HOME» NYSE » C » C Stock Price » C Stock News

Citigroup Share News

 Citigroup Stock Price
C Stock Price
 Citigroup Stock Chart
C Stock Chart
 Citigroup Stock News
C Stock News
 Citigroup Company Information
C Company Information
 Citigroup Stock Trades
C Stock Trades

Finra Fines Citigroup $3.5 Million For Inaccurate RMBS Data

DOW JONES NEWSWIRES The Financial Industry Regulatory Authority has fined Citigroup Inc.'s (C) Global Markets group $3.5 million for allegedly posting inaccurate data about deals it was making on mortgage-backed securities during the subprime mortgage and housing market crisis. Citigroup wasn't immediately available for comment, but has neither admitted nor denied the charges, Finra said. The regulatory agency fined the banking giant for allegedly providing inaccurate mortgage performance information, as well as for supervisory failures and other violations in connection with its residential mortgage-backed securitizations, or RMBS. Finra claims Citigroup posted inaccurate mortgage performance data on its website from January 2006 to October 2007. The bank didn't remove the information until early May 2012, despite receiving several warnings that it was inaccurate, the regulatory agency said. "Investors use this data to inform their decisions and in this case, for over six years, investors potentially used faulty data to assess the value of the RMBS," said Brad Bennett, FINRA's chief of enforcement. Issuers of RMBS are required to disclose information on the historical performance of similar securities offered in the past, as a way for investors to assess the value and risk associated with their securities and the mortgages on which they are based. Citigroup's purported inaccurate information about three subprime, or Alt-A, securitizations may have affected investors' view of subsequent RMBS, the regulatory group said. Finra also said the bank allegedly failed to supervise the pricing of mortgage-backed securities, lacked procedures to verify traders' prices, and didn't maintain required records, including, for instance, documentation of margin calls leading to the re-pricing of certain securities. In 2010, Citigroup was fined $75 million by the Securities and Exchange Commission for allegedly misleading investors about $39 billion in subprime-mortgage assets. -By Kristin Jones; Dow Jones Newswires; 212-416-2208; [email protected]

Stock News for Citigroup (C)
DateTimeHeadline
01/13/201710:47:37Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201710:40:20Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/12/201716:07:00Citigroup Subsidiary Fined $1 Million Linked to Overcharge Fees
01/12/201703:03:00Big Banks' Stocks Face Big Expectations -- WSJ
01/11/201714:18:00High Hopes for J.P. Morgan, Goldman as Banks Kick Off Earnings
01/11/201713:47:22Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/11/201711:35:54Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/10/201716:41:54Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/10/201716:04:51Current Report Filing (8-k)
01/10/201716:04:24Current Report Filing (8-k)
01/10/201716:03:04Current Report Filing (8-k)
01/10/201716:00:00Citi Retail Services and BRP Announce New Financial Services...
01/10/201713:30:34Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/10/201709:49:00Citi to Power Data Center in Roanoke, TX with Clean, Renewable...
01/09/201716:27:10Securities Registration (section 12(b)) (8-a12b)
01/09/201716:03:38Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/09/201715:23:37Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/09/201715:15:32Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
01/09/201709:10:02Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
01/06/201717:18:15Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

Citigroup and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US