(Reuters) - The penalty includes a $3 million fine and $12.2 million in
restitution to more than 200 customers. The NASD also suspended
three brokers and two branch managers at a Charlotte, North
Carolina branch office for 45 days to 18 months, and fined them
a total of $295,000. Citigroup did not admit wrongdoing.
"We take this matter very seriously," Citigroup spokeswoman
Susan Thomson said in an e-mail, calling the activities "the
inappropriate actions of a small group of employees in one
office more than five years ago." She said Citigroup is doing
what it can to prevent a recurrence.
Read more at Reuters.com Government Filings News
restitution to more than 200 customers. The NASD also suspended
three brokers and two branch managers at a Charlotte, North
Carolina branch office for 45 days to 18 months, and fined them
a total of $295,000. Citigroup did not admit wrongdoing.
"We take this matter very seriously," Citigroup spokeswoman
Susan Thomson said in an e-mail, calling the activities "the
inappropriate actions of a small group of employees in one
office more than five years ago." She said Citigroup is doing
what it can to prevent a recurrence.
Read more at Reuters.com Government Filings News
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