Citigroup will pay U.S. regulators $75 million to settle charges that it failed to disclose $40 billion in subprime exposure to investors in 2007, the Wall Street Journal reported on Thursday.
Under Citigroup's settlement, the Securities and Exchange Commission will charge the bank with material omission of disclosure requirements, but not with fraud, the newspaper said, citing people familiar with the matter.
The SEC is expected to indicate that Citigroup did not intentionally mislead investors, according to the report.
Citigroup failed to disclose its subprime exposure in the second and third quarters of 2007, according to the settlement, the Journal reported.
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