2011年10月1日土曜日

Citigroup Under Scrutiny in Japan - Wall Street Journal

TOKYO—Japan's Financial Services Agency is nearing the completion of an investigation into the local arm of U.S. financial giant Citigroup Inc. on suspicion of lax compliance in a number of areas and will likely issue sanctions as early as October, people familiar with the matter said Friday.

In what could trigger the third major sanction of Citi in seven years, the banking watchdog has found that the bank didn't provide sufficient disclosure about financial products such as investment trusts when selling them to customers and failed to adequately screen customers for product suitability, the people said.

Additionally, the FSA is ...

TOKYO—Japan's Financial Services Agency is nearing the completion of an investigation into the local arm of U.S. financial giant Citigroup Inc. on suspicion of lax compliance in a number of areas and will likely issue sanctions as early as October, people familiar with the matter said Friday.

In what could trigger the third major sanction of Citi in seven years, the banking watchdog has found that the bank didn't provide sufficient disclosure about financial products such as investment trusts when selling them to customers and failed to adequately screen customers for product suitability, the people said.

Additionally, the FSA is ...


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