Fined: Citigroup Global Markets Inc. Fined by FINRA (July 2019)


Citigroup Global Markets Inc. Fined by FINRA

8 July 2019

An AWC was issued in which the firm was censured and fined $55,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to report reportable options positions to the large options position reporting (LOPR) system due to a programming error in connection with accounts acting in-concert, and failed to report proprietary positions as acting-in-concert, because of a design flaw in its reporting logic. The findings stated that the firm reported positions to the LOPR in the wrong format and with an incorrect effective date.

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