US - Citigroup has agreed to pay $75m to settle charges brought by the Securities and Exchange Commission claiming the firm misrepresented its exposure to sub-prime assets to investors.
In the lead-up to the financial crisis, Citigroup said it had $13bn of exposure to subprime mortgages in its investment banking unit, but that figure excluded ‘super-senior' tranches of collaterali...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date