Citigroup Global Markets Inc. (CRD #7059, New York, New York) received a censure and fine of $107,500. The firm was also required to pay $1,706.01 in restitution. According to the findings, the firm failed to report to ACT the correct symbol indicating whether transactions were buy, sell, sell short, sell short exempt, or cross for transactions in eligible securities. The regulators also found that the firm failed to use reasonable diligence to ascertain the best interdealer market and failed to buy or sell in such market so that the resultant price to its customer was as favorable as possible under prevailing market conditions. The findings also state that the firm failed to display immediately customer limit orders in NASDAQ securities in its public quotation. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CLG050004)
Did Citigroup Global Markets Inc. manage your investments?
SHEPHERD, SMITH & EDWARDS, LLP
Offices and Associates:
New York, Chicago, San Francisco, Dallas,
Houston, New Orleans, Phoenix,
and Mexico City.
Main Office: 1010 Lamar, Suite 900, Houston,
Tel. (713) 227-2400 - Fax. (713) 227-7215