Citi Fined $7M by SEC for Trade Data Errors

The fine is the highest imposed by the SEC for violations relating to reporting of "blue sheet" data, which encompasses various types of trade data.


The fine is the largest ever imposed by the SEC for blue sheet violations.

A coding error in software used by Citi between May 1999 and April 2014 resulted in the bank omitting almost 27,000 trades from responses to blue sheet requests from the SEC.

According to the regulator, Citi then did not report the errors or take steps to produce the data for a further nine months.

Blue sheet data includes information such as the time and type of trades, the volume of securities traded, prices and client

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