Violation Tracker Individual Record
Company:
Citigroup Global Markets, Inc. and Citi Smith Barney
Current Parent Company:
Citigroup
Penalty:
$7,100,000,000
Year:
2008
Date:
August 7, 2008
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Violation Description:
Citigroup agreed to buy back $7 billion in securities and pay $100 million in penalties as part of the resolution of multistate litigation alleging it misled customers in the marketing and sale of auction rate securities.
Level of Government:
state
Action Type:
agency action
Agency:
Multistate Attorneys General Case
Civil or Criminal Case:
civil
HQ Country of Parent:
USA
HQ State of Parent:
New York
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking & securities
Source of Data:
https://web.archive.org/web/20100215073124/http://www.ag.ny.gov/media_center/2008/aug/aug7a_08.html
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
