Posts Tagged “Citigroup”
Citigroup agrees to pay $730 million to settle with investors
by The Compliance Exchange on March 19, 2013
Citigroup Inc (C.N) has agreed to pay $730 million to settle a class action lawsuit on behalf of investors who said they were misled by the company’s disclosures.
Goodbye, Vikram: A Lesson To Learn
by Jack Kelly and Beth Connolly on October 26, 2012
How is it possible that former Citigroup CEO Vikram Pandit was totally blindsided by the board’s decision to fire him? He neglected an important element of any corporate career.
CFTC Fines Citigroup for Violating Wheat Futures Position Limits and Other Top Stories on September 25, 2012
by Kyle Colona on September 24, 2012
CFTC Fines Citigroup for Violating Wheat Futures Position Limits The CFTC issued an order last week filing and settling charges that Citigroup Inc. (Citigroup) of New York and Citigroup Global Markets Ltd. (CGML) of London exceeded speculative position limits in (…)
Two Citigroup Compliance Personnel Depart After Being Named In Mortgage Insurance Fraud
by The Compliance Exchange on September 19, 2012
Two Citigroup Inc. executives are departing after federal prosecutors named them earlier this year in a mortgage-insurance fraud case that resulted in a $158.3 million settlement and an admission of wrongdoing by the bank. Jeffery Polkinghorne, a senior risk manager at the CitiMortgage division, is (…)
Citigroup Must Pay Investor $1.4 Million For Fund Loss -Panel
by The Compliance Exchange on September 12, 2012
A Citigroup Inc unit must pay more than $1.4 million to an investor for losses tied to a municipal bond that was marketed as “safe,” but was steeped in risky derivative securities
Citigroup’s Pandit Says Regulators Should Avoid Product Control
by The Compliance Exchange on August 31, 2012
Citigroup Inc. (C) Chief Executive Officer Vikram Pandit said regulators shouldn’t dictate what banks can sell to clients because such controls risk undermining financial stability and have no clear economic benefit.
Citigroup to settle MBS suit for $24.9 million
by The Compliance Exchange on August 29, 2012
Citigroup Inc has agreed to pay nearly $25 million to settle a lawsuit by investors who said they were misled about the quality of mortgage-backed securities they bought just before the U.S. housing market crashed
FDIC’s Tom Hoenig Spearheading Charge to Break up Big Banks
by Kyle Colona on August 3, 2012
While Sandy Weill’s recent remarks calling for big banks to be split up created waves of chatter on The Street, FDIC board member and former head of the Kansas City Federal Reserve Bank Tom Hoenig has been spearheading the charge (…)
Former Citigroup Manager Cleared and Other Top Compliance Stories on August 2, 2012
by Kyle Colona on August 2, 2012
Former Citigroup Manager Cleared in Mortgage Securities Case A federal jury cleared former Citigroup executive Brian Stoker in connection with the bank’s sale of risky mortgage-related investments at the peak of the housing boom. The New York Times Dealbook called (…)
Should Big Banks Be Broken Up?
by Kyle Colona on August 1, 2012
One of the leading proponents of the “one-stop shopping” bank model, Sanford (Sandy) Weill has added his voice to the “break up the banks” choir. Mr. Weill was the chief architect of the Citigroup/Travelers behemoth. In a recent interview on (…)
