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September 4, 2013

Citigroup Ordered to pay $10.8 Million

Recently, a Financial Industry Regulatory Authority (FINRA) arbitration panel ordered Citigroup to pay $10.8 million to an investor, based upon the investor’s claim that it failed to hedge a large position in Royal Bank of Scotland Group Plc. (RBS) stock. As part of the award, the branch manager of the Citigroup office was also ordered to pay $250,000 due to a lack of supervision.

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