FINRA fines Citigroup $600,000 over alleged trading strategies to pare taxesOctober 12th, 2009 FINRA fines Citigroup $600K over tax trading plansWASHINGTON — Citigroup Inc. has agreed to pay a $600,000 fine and be censured to settle regulators' charges that it failed to supervise complex stock-trading strategies aimed at reducing the bank's potential tax bill.
Russian finance minister says settlement of Bank of New York case to be signed soonSeptember 16th, 2009 Russia, BONY to sign settlementMOSCOW — Russia's Finance Minister says terms have been reached for an out-of-court settlement of a $22.5 billion Russian government lawsuit against Bank of New York Mellon and that the agreement is to be signed soon. The two-year-long case stems from a decade-old scandal in which a bank vice president and her husband were convicted of illegally wiring $7.5 billion of Russian money into accounts at the bank.
Federal judge orders Amaranth Advisors to pay $7.5M for price manipulation in energy marketAugust 12th, 2009 Amaranth settles energy manipulation complaintNEW YORK — Collapsed hedge fund Amaranth Advisors LLC will pay $7.5 million to settle a federal complaint that at least one of its traders tried to manipulate natural gas prices. Not included in the settlement was Brian Hunter, once the head of trading at Amaranth, which folded after losing some $6 billion on bad bets in the natural gas markets in 2006.
Judge declines to OK BofA's $33M settlement with SEC over Merrill bonuses, sets Monday hearingAugust 6th, 2009 Judge doesn't sign off on BofA, SEC settlementNEW YORK — A judge has balked at signing off on a $33 million proposed settlement between the Securities and Exchange Commission and Bank of America Corp. over bonuses.
SEC charges Kuwaiti trader with Citigroup connection in scheme to make millions off hoaxesJuly 24th, 2009 SEC charges Kuwaiti trader with hoax schemeWASHINGTON D.C. — The Securities and Exchange Commission on Thursday charged a Kuwaiti trader connected with Citigroup with scheming to make millions off fake offers to acquire U.S.
California resort where AIG sponsored luxury retreat amid federal bailout seized by CitigroupJuly 21st, 2009 Citigroup seizes resort where AIG held retreatDANA POINT, Calif. — A Southern California resort where American International Group Inc.
Citigroup shuffles executives, former chief financial officer Crittenden leaving the bankJuly 9th, 2009 Citigroup shuffles executives, former CFO leavingNEW YORK — Citigroup Inc. shuffled its top management again Thursday, naming its third chief financial officer of the year and bringing in a new head of its Citibank division as it returns its focus to traditional banking.
Huntsman announces $1.7 billion legal settlement, ending dispute with banks over buyoutJune 23rd, 2009 Huntsman announces legal settlement with banksTHE WOODLANDS, Texas — Chemicals maker Huntsman Corp. says it has reached a $1.7 billion settlement with two banks over its accusation they schemed to scuttle a $6.5 billion buyout of the chemicals maker last year.
Cleared of vehicular homicide, NJ trooper pleads guilty to traffic violations, fined $678June 12th, 2009 NJ trooper fined for violations in fatal crashCAPE MAY COURT HOUSE, N.J. — A New Jersey state trooper who was acquitted of vehicular homicide charges in a crash that killed two sisters has been fined for traffic violations stemming from the accident.
Citigroup finalizes agreement with US, launches offers to exchange preferred stock into commonJune 10th, 2009 Citigroup completes agreement with US governmentNEW YORK — Citigroup says it finalized exchange offers with the U.S. government under which the latter will exchange up to $25 billion of Citi preferred securities for interim securities and warrants.
Citigroup launches offers to exchange preferred stock into common, giving gov't 34 pct stakeJune 10th, 2009 Citigroup launches public exchange offersNEW YORK — Citigroup Inc. on Wednesday launched a series of public exchange offers that will effectively give the government a 34 percent stake in the troubled bank.
Citi plans to address $5.5B shortfall by converting more preferred shares into common stockMay 8th, 2009 Citigroup convert an additional $5.5B in stockNEW YORK — Citigroup Inc. is planning to convert an extra $5.5 billion of preferred shares into common stock to address its capital shortfall.
Report: Citigroup may need to raise $10 billion in extra capital to meet new gov't standardsMay 2nd, 2009 Report: Citigroup may need $10B in extra capitalNEW YORK — Citigroup Inc. may need to raise as much as $10 billion to meet the government's increased capital standards for banks outlined in its stress tests, according to a report.
Citigroup posts losses, lower than expected, in Q1April 17th, 2009 NEW YORK - US banking giant Citigroup reported Friday it lost $966 million in the first quarter of 2009, better than analysts' projections. Citigroup had lost $5.1 billion in the first quarter of 2008.
White House rejects rumours of bank nationalisationFebruary 21st, 2009 WASHINGTON - The Obama administration said Friday it was not trying to take over Citigroup Inc. and Bank of America Corp., the two ailing financial institutions.
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