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Stock Market & Financial Investment News

News Breaks
July 25, 2014
11:03 EDTCCitigroup unit LavaFlow to pay $5M in settlement with SEC
The Securities and Exchange Commission has charged a Citigroup business unit operating an alternative trading system with failing to protect the confidential trading data of its subscribers. New York-based LavaFlow Inc. has agreed to pay $5M to settle the SECís charges, including a $2.85M penalty that is the agencyís largest to date against an ATS. According to the SECís order instituting a settled administrative proceeding, LavaFlow allowed an affiliate operating a technology application known as a smart order router to access and use confidential information related to the non-displayed orders of LavaFlowís ECNís subscribers. While LavaFlow only allowed the affiliate to use the confidential trading data for order router customers who also were ECN subscribers, the firm did not obtain consent from its subscribers to use their confidential information in this way, nor did LavaFlow disclose the use in its regulatory filings with the SEC. In addition to the Regulation ATS violations, the SECís order finds that LavaFlow aided and abetted a violation by the same affiliate that operated the smart order router, Lava Trading Inc., which continued to provide broker-dealer services for several months after it deregistered in August 2008.
News For C From The Last 14 Days
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November 24, 2014
09:46 EDTCCitigroup Global Markets fined $15M by FINRA for supervisory failures
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09:39 EDTCActive equity options trading
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07:01 EDTCFed could further restrict banks' commodities businesses, NY Times says
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November 21, 2014
07:24 EDTCBB&T CEO says 'banks lending recklessly' again, Reuters reports
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November 20, 2014
07:21 EDTCCitigroup's OneMain could receive bids from Springleaf, Centerbridge, WSJ says
Springleaf Holdings (LEAF) and Centerbridge Partners are said to be considering separate bids for OneMain, Citigroup's (C) subprime lending business, The Wall Street Journal reports. The unit could fetch over $4B, a source says. Other sources say the sale process for OneMain is in the early stages and other bidders may emerge. Reference Link
November 19, 2014
15:59 EDTCCitigroup latest bank to mull sale of index business, Reuters reports
Citigroup, amid increased regulatory scrutiny, is weighing a sale of its index business, said Reuters, citing two sources familiar with the situation. Reference Link
08:27 EDTCCiti cuts 35 capital markets jobs in London, Reuters reports
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07:51 EDTCClearing House Payments Company to hold a conference
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07:37 EDTCCitigroup to hold a conference
Global Financial Conference is being held in Singapore on November 19-20.
November 17, 2014
14:16 EDTCCitigroup reports October credit loss 2.18% vs. 2.53% last month
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