FINRA has fined Citigroup Global Markets $725,000 for failing to disclose conflicts of interest in its research reports and public appearances by analysts.

These conflicts of interest were “inherent in their business relationships in certain research reports from January 2007 through March 2010,” according to a public release by FINRA. By not disclosing the conflicts, the company prevented investors from being aware of potential biases in its recommendations, said Brad Bennett, executive vice president and chief of enforcement at FINRA, in the release. “Firms need to provide investors with full and accurate information so they will be able to take it into consideration before making an investment decisions.”

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access