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...

ISSN: 2151-1845 / CDC10004H

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