Recently, a Financial Industry Regulatory Authority (FINRA) arbitration panel ordered Citigroup to pay $10.8 million to an investor, based upon the investor's claim that it failed to hedge a large position in Royal Bank of Scotland Group Plc. (RBS) stock. As part of the award, the branch manager of the Citigroup office was also ordered to pay $250,000 due to a lack of supervision.
If you have lost money due to a financial advisor's failure to adequately diversify your savings or believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.
To read more, please visit: http://www.bloomberg.com/news/2013-07-31/citigroup-ordered-to-pay-10-8-million-in-arbitration.html