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Citi settles SEC compliance charges for $15 million

Bank also to add $4.5 million in refunds for overcharged fees

Citi settles SEC compliance charges for $15 million

Citigroup on Wednesday agreed to pay $15 million to settle charges of compliance and surveillance failures, according to the Securities & Exchange Commission.

An investigation found the bank didn't review thousands of trades executed by several of its trading desks during a 10-year period. While personnel used electronically generated reports to review trades on a daily basis, technological errors caused the reports to omit several sources of information about thousands of relevant trades, according to the regulator.

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