January 26, 2017

Citigroup Global Markets, Inc.

Trading and Pricing

SANCTION AMOUNT: $18,300,000

Defendants: Citigroup Global Markets, Inc.

The SEC found that Respondent Citigroup Global Markets overcharged at least 60,000 advisory clients approximately $18 million in unauthorized fees because it failed to confirm the accuracy of billing rates entered into its computer systems in comparison to fee rates outlined in client contracts, billing histories, and other documents. The firm also allegedly failed to maintain/misplaced client contracts.

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