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

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates

Popular Searches on HFI