Citi Pays $11.5M in Finra Fines and Compensation for Ratings Failings

Finra says Citi's inaccurate ratings led to numerous porblems for portfolio manager clients and retail investors.

finra-new-york-2009

Between February 2011 and December 2015, Citi displayed inaccurate research ratings for more than 1,800 equities—more than a third of those covered by the firm—which Finra says caused “widespread, adverse consequences.” For example, because of the errors in the ratings feed that Citi provided to its clearing firm, the clearer displayed the wrong rating, a rating for a security that Citi did not rate, or displayed no rating for securities that the bank did rate.

In addition, Citi brokers

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Waterstechnology? View our subscription options

FCA declines to directly regulate market data prices

A year-long investigation by the UK regulator to determine whether competition is hindered in the wholesale data markets has concluded with its decision not to directly regulate much-maligned data pricing and licensing structures.

How GenAI could improve T+1 settlement

As well as reducing settlement failures, researchers believe generative AI can provide investment managers with improved research, prioritization, and allocation resources.

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here