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Citigroup and Putnam pay $60m to settle SEC fund charges

Citigroup and Putnam Investments will pay a total of $60m in civil fines to settle US Securities and Exchange Commission allegations that they failed to disclose commission payments to customers.

Citigroup was fined $20m and Putnam, a unit of Marsh & McLennan, $40m. Neither admitted nor denied wrongdoing.

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