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Portfolio Selection
Chapter Query
Citigroup was required to publicly apologise for faulty stock research by the firm’s analysts. The Security exchange commission made a regulatory inquiry into whetherthe brokeragef irm misled small investors with overly optimistic research on investment-banking clients. The financial services firm finally paid a fine of about $300 million to $350 million and was required to spend as much as $100 million more for independent research to settle the inquiry.
The actual facts on payment of fines by various other financial services group are as follows: A $100 million fine for Merrill Lynch National as settlement terms following an year long investigation into Wall Street business practices. The fines include ...
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