"Japan's Financial Services Agency (FSA) is probing whether Citigroup failed to offer sufficient explanations to customers about investment trusts, which are similar to mutual funds in the U.S., and other financial products, the source said.
Sanctions would come as a fresh blow to Citigroup, which had its name tarnished in Japan in 2004 when regulators forced it to close its private banking business due to lax controls in the prevention of money laundering.
It was punished again in 2009 for the same violation and forced to suspend retail bank marketing activities for a month"...............READ MORE
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