SEC Says It Charges Citigroup Global Markets Inc. With Recordkeeping Failures Concerning Underwriting Expenses
Portfolio Pulse from Benzinga Newsdesk
The Securities and Exchange Commission (SEC) has charged Citigroup Global Markets Inc. with recordkeeping failures related to underwriting expenses. The details of the charges or potential penalties were not disclosed.
August 29, 2023 | 8:10 pm
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NEGATIVE IMPACT
Citigroup Global Markets Inc., a subsidiary of Citigroup Inc., has been charged by the SEC for recordkeeping failures. This could potentially lead to penalties and reputational damage.
The SEC's charges against Citigroup Global Markets Inc. could lead to financial penalties and reputational damage, which could negatively impact Citigroup Inc.'s stock price in the short term. The extent of the impact will depend on the severity of the charges and the potential penalties.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100