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Citigroup to Pay $11.5 Million Fines Over Incorrect Stock Ratings
January 02, 2018
New York-headquartered financial services corporation Citigroup Inc is expected to pay a minimum of $11.5 million in fines and due compensation for displaying faulty research ratings on 1,800 plus stocks, thus compelling many customers to buy the shares they wouldn’t have bought otherwise.
The banking giant has been asked by the Financial Industry Regulatory Authority to pay a fine of $5.5 million and a minimum of $6 million to the retail customers over the discrepancies that occurred during February 2011 and December 2015.
