FINRA Fines Citi Unit Over Disclosure Failures

Law360, New York (January 18, 2012, 3:24 PM EST) -- Citigroup Global Markets Inc. has been fined $725,000 by the Financial Industry Regulatory Authority for allegedly failing to disclose conflicts of interest in research reports and its research analysts' public appearances, FINRA said Wednesday.

Those potential conflicts stemmed from the role of the company or its affiliates in public securities offerings or investment banking revenue that they received from subject companies, among other business relationships, according to FINRA.

Citigroup failed to disclose the purported conflicts in research reports that it published from January 2007 through March...
To view the full article, register now.