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Citigroup | 8-K: Citigroup Signs Civil Monetary Penalty Consent Order and 2020 Consent Order Amendment

Citigroup | 8-K: Citigroup Signs Civil Monetary Penalty Consent Order and 2020 Consent Order Amendment

花旗集团 | 8-K：花旗集团签署民事罚款同意令和2020年同意令修正案
美股SEC公告 ·  2024/07/11 05:30

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The Federal Reserve and Office of the Comptroller of the Currency (OCC) have imposed combined penalties of $136 million on Citigroup and Citibank for ongoing deficiencies in risk management and data governance. The Federal Reserve assessed a $60.6 million penalty on Citigroup, while the OCC levied a $75 million fine on Citibank.The penalties stem from violations of a 2020 consent order that required Citigroup to enhance its data quality management program, risk management, and internal controls. Regulators found that Citigroup made insufficient progress in executing its enhancement plan and implementing appropriate compensating controls to mitigate data quality risks.Under the new orders, Citibank must submit a Resource Review Plan within 30 days and comply with provisions governing capital distributions to Citigroup entities. The regulators emphasized that failure to remediate these violations may result in additional enforcement actions.
The Federal Reserve and Office of the Comptroller of the Currency (OCC) have imposed combined penalties of $136 million on Citigroup and Citibank for ongoing deficiencies in risk management and data governance. The Federal Reserve assessed a $60.6 million penalty on Citigroup, while the OCC levied a $75 million fine on Citibank.The penalties stem from violations of a 2020 consent order that required Citigroup to enhance its data quality management program, risk management, and internal controls. Regulators found that Citigroup made insufficient progress in executing its enhancement plan and implementing appropriate compensating controls to mitigate data quality risks.Under the new orders, Citibank must submit a Resource Review Plan within 30 days and comply with provisions governing capital distributions to Citigroup entities. The regulators emphasized that failure to remediate these violations may result in additional enforcement actions.
美联储和货币监理署（OCC）对花旗集团和花旗银行实施了总计13600万美元的罚款，原因是其在风险管理和数据治理方面存在持续的缺陷。美联储对花旗集团罚款6060万美元，而OCC则对花旗银行处以7500万美元的罚款。这些罚款源于2020年的一项同意令，该令要求花旗集团加强其数据质量管理程序、风险管理和内部控制。监管机构发现，花旗集团在执行其增强计划和实施适当的补偿性控制以减轻数据质量风险方面进展不足。根据新的命令，花旗银行必须在30天内提交资源审查计划，并遵守关于资本分配给花旗集团实体的规定。监管机构强调，未能解决这些违规行为可能导致进一步的执法行动。
美联储和货币监理署（OCC）对花旗集团和花旗银行实施了总计13600万美元的罚款，原因是其在风险管理和数据治理方面存在持续的缺陷。美联储对花旗集团罚款6060万美元，而OCC则对花旗银行处以7500万美元的罚款。这些罚款源于2020年的一项同意令，该令要求花旗集团加强其数据质量管理程序、风险管理和内部控制。监管机构发现，花旗集团在执行其增强计划和实施适当的补偿性控制以减轻数据质量风险方面进展不足。根据新的命令，花旗银行必须在30天内提交资源审查计划，并遵守关于资本分配给花旗集团实体的规定。监管机构强调，未能解决这些违规行为可能导致进一步的执法行动。
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