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.


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

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