Tag: Citibank N.A.

DFSA
November 08, 2018 BY Valentina Kirilova

Citibank to pay more than $38 million for improper handling of ADRs

The Securities and Exchange Commission (SEC) has just announced that Citibank N.A. has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). ADRs – U.S. securities that represent foreign shares of a foreign company – require a corresponding number of foreign shares to be held in custody…

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SFC fines
January 05, 2018 BY Valentina Kirilova

OCC assesses $70 million civil money penalty against Citibank

The Office of the Comptroller of the Currency (OCC) announced that it has recently assessed a $70 million civil money penalty against Citibank, N.A., for failing to comply with the agency’s 2012 consent order related to Bank Secrecy Act (BSA) and anti-money laundering (AML) deficiencies. In its 2012 order, the OCC cited the bank for…

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