Citigroup Fined USD350,000 by FINRA

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Citigroup Global Markets Inc has agreed to a USD350,000 fine as part of an agreement with the Financial Industry Regulatory Authority (FINRA).

The agreement addresses alleged breaches of FINRA rules that occurred between June 2017 and February 2019. During this period, Citigroup Global Markets Inc failed to establish and maintain a supervisory system, including written supervisory procedures, reasonably designed to monitor the external brokerage accounts of its employees. For those accounts, the firm required employees to manually upload PDF statements.  During this period, Citigroup did not have reliable procedures designed to ensure the timely upload of PDF statements.

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