Citigroup Global Markets Inc. Fined by FINRA
An AWC was issued in which the firm was censured, fined $225,000 and required to revise its supervisory system and WSPs. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it effected a short sale for its own account without borrowing the security or entering into a bona fide arrangement to borrow the security, and without documenting its compliance with the locate requirement for short sale transactions.
