August 07, 2014
The last words of Judge Jed Rakoff on the U.S. Securities and Exchange Commission's longstanding case against Citigroup Global Markets Inc. may turn into the opening lines of a new challenge to Wall Street's top cop, as the judge raised questions about the constitutionality around the agency's administrative law proceedings.
August 05, 2014
Judge Jed Rakoff said Tuesday he would sign off on a $285 million settlement between the U.S. Securities and Exchange Commission and Citigroup Inc. over the bank's marketing of a collateralized debt obligation, saying the Second Circuit -- which vacated his initial rejection of the deal -- had left him with "sour grapes".
November 28, 2011
With Judge Jed S. Rakoff's stinging rejection of the U.S. Securities and Exchange Commission's $285 million mortgage-backed securities settlement with Citigroup Inc. on Monday, the agency will now have a far tougher standard to meet for no admit, no deny deals going forward, attorneys say.
November 09, 2011
The New York federal judge reviewing Citigroup Inc.'s $285 million proposed settlement with the U.S. Securities and Exchange Commission expressed doubts Wednesday about the agreement, which some observers have said lets Citigroup off too easily for alleged misdeeds over mortgage-related securities.
November 07, 2011
The U.S. Securities and Exchange Commission told a leery judge Monday that a $285 million settlement with Citigroup Inc. would adequately resolve allegations that the bank bet heavily against a $1 billion mortgage-related collateralized debt obligation it had touted to investors.
October 27, 2011
A New York federal judge known for scrutinizing U.S. Securities and Exchange Commission settlements on Thursday questioned the agency's proposed $285 million deal with Citigroup Inc. to resolve securities fraud allegations over the sale of a $1 billion collateralized debt obligation linked to mortgages.