Citigroup, Inc disclosed Friday that it has received subpoenas or requests for information from regulators, including the Securities and Exchange Commission, in connection with the company's handling of auction-rate securities.
The company said the SEC issued a formal order of investigation into whether various provisions of the federal securities laws have been violated over the sale of ARSs.
Separately, the company said it has received requests for information from various governmental and self-regulatory agencies relating to the Falcon, ASTA and MAT Citi-managed hedge funds. The company said it is cooperating fully with such requests.
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