January 26, 2017 BY LeapRate Staff
Citigroup overbilled advisory clients, pays $18 million fine
The U.S. Securities and Exchange Commission today announced that the Citigroup Global Markets unit of global banking giant Citigroup Inc (NYSE:C) has agreed to pay $18.3 million to settle charges that it overbilled investment advisory clients and misplaced client contracts. The SEC’s order finds that at least 60,000 advisory clients were overcharged approximately $18 million…
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