NASD found that Citigroup failed to adequately supervise a team of
brokers based in Charlotte, NC, who used misleading sales materials during dozens of seminars and meetings for hundreds of employees of Bellsouth Corporation.
On June 6, 2007, FInRA announced more than $15 million in fines and restitution against Citigroup Global Markets, Inc., to settle charges related to misleading documents and inadequate disclosure in retirement seminars and
meetings for Bellsouth Corp. employees in North Carolina and South Carolina.
On June 6, 2007, the NASD announced more than $15 million in fines and restitution against Citigroup Global Markets, Inc., to settle charges related to misleading documents and inadequate disclosure in retirement seminars and
meetings for Bellsouth Corp. employees in North Carolina and South Carolina.