The Financial Industry Regulatory Authority, better known as FINRA, reports that it has fined Citigroup Global Markets Inc. $1.25 million for “failing to conduct timely or adequate background checks on approximately 10,400 non-registered associated persons spanning a seven-year period.” Citigroup Global Markets (CGMI) characterizes itself as a provider of “products and financing solutions for corporations,… Read More >>
BGC Financial Settles Recordkeeping Case with SEC
New York-based BGC Financial allegedly violated federal securities laws that require broker-dealers to maintain accurate books and records and promptly provide records requested by SEC staff, according to a recent SEC cease-and-desist order. The interdealer broker has agreed to pay a $1.25 million penalty to settle the SEC’s charges that it “failed to preserve audio… Read More >>
