News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Citibank’s parent company, Citigroup, disclosed this year that an astounding 15 percent of its employees are now categorized as “risk, regulatory, and compliance staff,” up from 4.3 percent about ten years ago.… Continue Reading
Banking giant Credit Suisse Group AG said Wednesday the DOJ and SEC are investigating its hiring practices in the Asia Pacific region.
The agencies want to know whether Credit Suisse hired referrals from government agencies and other state-owned entities “in exchange for investment banking business and/or regulatory approvals,” according to a fourth-quarter earnings release.… Continue Reading
For nearly five years Citigroup Inc. sent retail customers the wrong research ratings on more than 1,800 stocks, causing many to buy and hold shares they never would have owned.
The Financial Industry Regulatory Authority or FINRA fined Citigroup $5.5 million and ordered it to pay at least $6 million in compensation to retail customers for the ratings errors.… Continue Reading
The Securities and Exchange Commission is reportedly investigating Citigroup for accounting fraud and possible violation of the Foreign Corrupt Practices Act following the bank’s disclosure of fraudulent loans in its Mexican unit.… Continue Reading