Citigroup to pay fine in hedge-fund sales case
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WASHINGTON -- Financial-services giant Citigroup Inc. will pay $250,000 to settle allegations it used misleading sales material on hedge funds, the National Association of Securities Dealers said yesterday.
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Citigroup Inc. (C.N) faces a lawsuit from angry investors who allege they were defrauded in a "massive scheme of deception" when they bought securities tied to the credit-worthiness of Enron Corp. (ENRNQ.PK).
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Citigroup Inc. was sued by Bank of New York Co. over the sale of securities linked to Enron&#39;s creditworthiness, a newspaper reported Thursday.
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Bank of New York (BK:NYSE - news - research) reportedly faces a $24 million fine to avoid a criminal indictment for allegedly failing to report suspicious activity at one of its branches.
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Fremont Investment Advisors has agreed to pay $2.1 million in restitution and $2 million in civil penalties to end federal and state mutual fund timing cases, New York Attorney General Eliot Spitzer said yesterday.
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Citigroup was sued this week by a group of institutional investors that contend the bank defrauded them in selling $2.4 billion of notes linked to the creditworthiness of the Enron Corporation.
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Citigroup Inc. C.N on Friday said  U.S. securities regulators may recommend enforcement  proceedings against the former head of Citigroup Global  Investment Management.
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Brokerage Charles Schwab &amp; Co. has agreed to pay a $350,000 civil fine to settle federal regulators&#39; allegations that it illegally allowed certain customers to change mutual fund trade orders after the market&#39;s close.
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H&R Block's  broker affiliate was censured and fined &#36;500,000 for enabling a hedge fund customer in its Orlando office to engage in deceptive practices to market-time mutual funds, regulators said on Tuesday.
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&gt;Citigroup Inc. was sued by a group of institutional investors who contend the bank defrauded them in selling $2.4 billion of notes linked to the creditworthiness of Enron Corp.
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In today&#39;s fines, Merrill Lynch &amp; Co. was hit with the second largest, at US$1.6 million, followed by American Express Financial Advisors, at $700,000.
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NEW YORK, October 25  - Citigroup Global Markets Inc has been censured and asked to pay a fine of $250,000 by the NASD (National Association of the Securities Dealers), for allegedly distributing inappropriate hedge fund sales literature
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Fremont Investment Advisors of San Francisco has agreed to pay $2.1 million in restitution and $2 million in civil penalties to end a mutual fund timing case, New York Attorney General Eliot Spitzer announced Thursday.
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NEW YORK, September 14 (New Ratings) - Charles Schwab Corporation (SCH.NYS) has agreed to pay a fine of $350,000 to settle the enforcement proceedings by federal regulators in connection with the alleged illegal processing of some mutual fund trade
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Industry regulators fined Citigroup Global Markets Inc. $250,000 for disseminating inappropriate sales literature about its hedge funds.
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Citigroup  was cleared of insider  trading charges on Thursday by an Australian court, which ruled  the U.S. bank&#39;s &quot;Chinese Walls&quot; were not breached when it  traded shares in a company it knew was a takeover target.
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RS Investment Management agreed to pay $30 million to settled allegations it allowed &quot;excessive&quot; market timing in its mutual funds, New York Attorney General Eliot Spitzer said Wednesday.