Citi To SEC: Yes, We Had Bad Controls And Poor Supervision

Entertainment (now) 2018-08-17

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Reuters reports Citigroup has agreed to pay $10.5 million to settle two separate complaints. U.S. regulators said on Thursday one complaint related to bad loans made by its Mexican subsidiary, Banamex, between 2008 and 2014. The other concerned a trader mismarking illiquid positions and unauthorized proprietary trading by Citigroup Global Markets Incorporated from 2013 to 2016.

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