Citigroup pays $75m to settle SEC sub-prime charges

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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...

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