(Reuters) - The penalty includes a $3 million fine and $12.2 million in restitution to more than 200 people through a related class-action lawsuit. The NASD also suspended three brokers and two branch managers at a Citigroup office in Charlotte, North Carolina, and fined them a total of $295,000.
According to the NASD, the largest U.S. bank failed to supervise brokers who conducted dozens of seminars for BellSouth workers in North Carolina and South Carolina from 1994 to 2002.
Read more at Reuters.com Business News
According to the NASD, the largest U.S. bank failed to supervise brokers who conducted dozens of seminars for BellSouth workers in North Carolina and South Carolina from 1994 to 2002.
Read more at Reuters.com Business News
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