Citi Is Latest To Face SEC Probe Over Unapproved Messaging, according to Law360

From Law360:

By Jon Hill (February 28, 2022, 11:58 AM EST) — Citigroup Inc. told investors Monday that it is responding to a U.S. Securities and Exchange Commission investigation concerning bank employees’ use of unapproved messaging channels to discuss business, making it the latest big bank to disclose its involvement in the regulatory probe.In a regulatory filing, Citi said that the SEC is investigating Citigroup Global Markets Inc. — the bank’s brokerage and securities arm — as well as other firms over “compliance with record-keeping obligations for broker-dealers and investment advisers in connection with business-related communications sent over unapproved electronic messaging channels.””CGMI is cooperating with the investigation,” the New York-based bank…

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