SEC Levies $2.9 Million Penalty Against Citigroup Over Record-Keeping Violations
The U.S. Securities and Exchange Commission (SEC) has taken action against Citigroup Global Markets Inc, issuing a cease-and-desist order in response to alleged willful violations of record-keeping requirements within the company's underwriting business. The order comes with a $2.9 million penalty, and while Citigroup has agreed to the terms, it has not admitted to the findings.