RegAlert2015-08-17
Added · Updated
SEC Division of Corporation Finance no-action letter: Citigroup Inc.
Citigroup Inc. requests a waiver from 'ineligible issuer' status under Rule 405 of the Securities Act of 1933 following a settlement order against its subsidiaries, Citigroup Global Markets Inc. and Citigroup Alternative Investments LLC. The settlement requires the subsidiaries to pay disgorgement of $139,950,239 and prejudgment interest of $39,612,089, and to cease and desist from specific violations of the Securities Act and Investment Advisers Act. Citigroup argues that the alleged conduct involved subsidiary-level marketing of hedge funds without involvement by Citigroup's senior management or disclosure controls, and that maintaining ineligible status would impose a disproportionately severe sanction on the parent company.
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SEC published 7 documents in the last 30 days. We email you each new one the day it's published.