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Citi faces FINRA fine over derivatives deals - report

Source: Reuters - Mon 12th Oct 2009

Citigroup Inc is expected to be fined $600,000 by the Financial Industry Regulatory Authority over derivatives transactions that helped foreign clients avoid taxes on dividends, the Financial Times reported on its website on Sunday.

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The fine against Citigroup Global Markets is expected to be announced on Monday, the paper said.

A Citigroup representative was not immediately available for comment.

FINRA could not be immediately reached for comment.

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