Citigroup Inc. (NYSE:C) shares are trading higher today. The bank reportedly agreed with the Bourse de Montreal to settle claims of failing to report large options contract positions.
The exchange noted that Citigroup lacked a system to ensure employee compliance with reporting rules, reported Reuters.
As part of the settlement, Citi will pay a $138,000 fine and $10,600 in related costs.
Last week, the U.S. bank regulator Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) have fined Citigroup $135.6 million for failing to comply with a 2020 enforcement action.
The fine includes the $60.6 million fine from the Federal Reserve and additional penalties imposed by the OCC.
This penalty is part of a larger effort, coordinated with the Office of the (OCC), to address ongoing issues with Citigroup's data quality management and risk controls.
Recently, Citigroup reported second-quarter FY24 revenue growth of 4% Y/Y to $20.14 billion, beating the analyst consensus estimate of $20.07 billion and EPS of $1.52 beat the analyst consensus estimate of $1.39.
Citigroup stock has gained more than 36% in the last 12 months. Investors can gain access to the stock via First Trust Nasdaq Bank ETF (NASDAQ:FTXO) and Opal Dividend Income ETF (NYSE:DIVZ).
Also Read: Citigroup's Growth Streak Continues: Analysts Unpack Q2 Insights
Price Action: C shares are down 0.15% at $64.79 premarket at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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