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Violation Tracker Individual Record

Company: Citigroup
Current Parent Company: Citigroup
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $10,500,000
Year: 2018
Date: August 16, 2018
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Secondary Offense: financial institution supervision failures
Violation Description: Citigroup agreed to pay $10.5 million in penalties to settle two enforcement actions involving its books and records, internal accounting controls, and trader supervision. The charges stemmed from $81 million of losses due to trader mismarking and unauthorized proprietary trading and $475 million of losses due to fraudulently-induced loans made by a Mexican subsidiary.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.