The SEC slammed Citigroup Global Markets with a $7 million penalty for providing the agency with incomplete trading data, the largest penalty for so-called "blue sheet" violations to date.

Citigroup admitted to wrongdoing, saying the deficient trading data was due to a coding error in the software it used from May 1999 to April 2014. As a result, almost 27,000 securities transactions were omitted from Citigroup's responses to more than 2,300 blue sheet requests.

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