NASD fines Citigroup $250K for inappropriate sales literature

Thu Oct 28, 2004

The NASD this week slapped a $250,000 fine, its largest to date involving hedge fund sales by broker-dealers, on Citigroup Global Markets for disseminating what the self-regulatory group called inappropriate sales literature.

The censure and fine are a response to 100 pieces of sales literature that contained projections for a targeted rate of return and other hypothetical figures without properly disclosing...


The full contents of this article are available to active AR subscribers and trialists only.

To continue reading please,
take a free trialsubscribe or log in to AR.


Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now